ABCIncome.com - Why Price Is Not An Issue

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Why Price Is Not An Issue

If you’re in either ABCIncome.com’s Earn Without Risk! or We Guarantee To Build Your Business! program then the issue of cost is likely to be less important to you. However, if you are still in the process of deciding on a particular product or opportunity, or if you are marketing other opportunities, then you and others in your organization will benefit from the information here.

This article is not about determining the price of a particular product or service that you might be selling. That can be a very involved process that a short article wouldn’t do justice to. What we’ll talk about here are the existing prices of products or services that you are already marketing, and/or the price of your particular business opportunity.

Whether people new to marketing or seasoned veterans there are an amazing number of people who seem to feel that they almost have to apologize for the price of their product, service, or business opportunity. They are convinced that the price is, “expensive,” too high for many of their prospects, out of reach for many, or, a favorite excuse that you will hear often, “if the price was just lower they could sign up more people.”

Throughout ABCIncome.com, and especially in articles that you will find here, I stress the importance of mindset and attitude. It is vitally important to have the proper mindset for success if you actually expect to succeed and be successful. Certainly there are situations where a price is indeed legitimately set too high, but in the vast majority of cases the problem is that the marketer’s mindset is too low, as opposed to the price being too high.

In the same way that a good photographer can usually take excellent pictures even with an old camera (in fact many of the World’s greatest photographers have), while someone lacking those same skills may be frustrated with their results, even if they happen to be using the very newest and most sophisticated equipment, so it is with the issue of price.

A confident marketer convinced of the value of his or her product and service might be able to easily market it at the given price day after day, year after year, while someone else “trying” to sell the exact same thing feels that price objections are frequently encountered, and that the price is what is preventing them from making more sales.

In reality, there are only three reasons that someone will object to or not buy your product or service due to price:

1. They don’t have and/or cannot come up with the money.

2. Sufficient time has not been taken to explain the product or service, and/or the prospective purchaser doesn’t understand or perceive the value.

3. The person selling the product or service lacks the necessary mindset and/or is not be convinced of the value of the product or service him or herself.

Unless you are selling an extremely high-end product, and few people involved in the home business industry are, we can pretty much rule out number 1. Not to sound cliché, but it is absolutely, positively true that America is, ”the land of opportunity.” In America even the poorest person or household is likely to be found with numerous, “luxuries,” that people in many parts of the World would love to be able to enjoy. Even the poorest household, for instance, is likely to have at least one, good, working color TV (maybe even a big-screen model) and a cable or Dish service to provide the entertainment. [By the way, did you know that it has been well researched and proven that there is a direct correlation people the amount of TV that people watch and their level of success in life? Successful people tend to watch less TV, while poorer people tend to watch more.]

A, “poor,” household is likely to have cordless phones (with Caller ID), perhaps a refrigerator with ice in the door, microwave, dishwasher, expensive designer clothes (especially for the children), maybe a nice car, etc., etc., etc. In other words, in America a, “poor,” person is still likely to be fortunate enough to enjoy quite a few things in life that are above and beyond what is necessary for bare existence. It may even be quite a comfortable or cozy situation.

And, of course, the above examples had to do with a, “poor,” person, whereas most people are not living in that category. For most people, whether they consider themselves to be, “poor,” or whether they earn $30,000 a year or $300,000, it all boils down to a well proven point that we’ve all heard before, which is that people make a priority in life those things that they choose to afford and enjoy. It is usually not a case of not having the money, but rather a matter of how a person chooses to spend the money they do have.

In regard to excuse number 2, always make a sufficient effort to explain the value of your product or service to your prospective client, and try to make sure that he or she understands. It is amazing the number of sales that are lost not because the prospective purchaser could not afford to buy, but simply because a sufficient effort was not made to help your prospective client understand the value of what he or she would be getting.

And then finally we come to reason number 3: Mindset. Of all of the factors discussed above mindset is by far the most important. If YOU are convinced that your product or service is worth every penny of the price you are charging your prospective clients will sense that. Likewise, if you are NOT convinced that your product or service is worth the price, then your prospective client may not be either. In fact, I’ve seen marketers lose sales even after the prospective client was ready to buy, for no other reason than they literally talked the buyer out of it. If a marketer is apologizing for the price, or saying things like, “well, if I could afford it I would have one too,” or, “well, you know, maybe you don’t need to spend that much,” what kind of signal does that send to the prospective client? Not a very good one.

There are some situations in which the marketer may indeed be unable to afford the product or service they are selling, but, again, that does not apply to most home business scenarios. If you happen to work in sales for Boeing, for instance, you probably can’t afford to pick up the latest model of airliner to park in your garage. And if you happen to be in car sales there may be models that you simply don’t prefer, even though you may well be able to afford them.

Speaking of cars, they provide an excellent example of why price is seldom really an issue. I guarantee that you will seldom find the salespeople of some of the Worlds most respected (and expensive) automobiles, such as Rolls-Royce, Mercedes, or Porsche, apologizing for the price! And yet, these cars continue to sell year after year, decade after decade, even during bad times in the economy.

Why is that? Three reasons: a) Even in the price range of the cars mentioned above there are still more than enough qualified and interested buyers; b) The perceived value is high; c) The attitude and mindset of the marketer or salesperson. No salesperson of any caliber, for instance, would expect a serious prospective buyer of any of the aforementioned automobiles to object over price. Not to say the buyer wouldn’t want to be assured they were getting a good price, but a serious buyer wouldn’t expect a $200,000 Rolls-Royce, for instance, to sell for $50,000. They wouldn’t think the price range is too high for all of the reasons discussed above.

Notice that I used the term, “serious buyer,” because, true, there will be the curiosity seeker, tire kicker, or person who just feels good by window shopping for an expensive car they cannot afford. And that brings us to another important point to remember before we end this article.

There is an old saying in marketing: “Some will, some won’t, so what, next.” Meaning that some people will buy your product or service, and some won’t, but it doesn’t really matter because you can just always keep moving on until you get to that person who wants exactly what you have to offer.

Not everyone can afford a Rolls-Royce, Mercedes, or Porsche, but that has not hampered the sales or success of those companies, or the people marketing those product lines. Likewise, whatever your product or service happens to be, there may indeed be some people who truly can’t afford it. But, guess what? There are bound to be millions of people looking for exactly what you have to offer, and who can afford it, and are more than willing to pay the fair price that you’ve set.

Remember that not every buyer can afford the best, but no one likes to think that what they are getting is, “cheap,” or of lesser quality.

There is nothing wrong with an occasional discount if you have sufficient margin to offer one and it is appropriate for the situation. But, otherwise, Don’t sell yourself short by marketing a product that is below your abilities, either in price or performance. Not only will your bank account thank you, but so will your clients because you will have provided them with the service, value, and benefits they were expecting.

I hope that you enjoyed this article... Also, if you have not already done so, please read the information that you'll find at the link below:

To Your Success!

Phil Covington
Founder of ABCIncome.com