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"We need to give them a win"
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"We just raise up the price 30% and then go and give them (the customer) a 30% off. That way they'll go to their boss saying they got a deal. And they'll buy" Their closing rate: 40% Reality? A product in the market that's underpriced —and living in a discount culture. Money left on the table? A couple million euros per year. Here's the thing: Inflating your prices to give a discount means a couple of things:
Giving them a win doesn't mean to cut your prices down, but how it can be profitable for them AND for you. For both parties to be happy with the deal, and for you to find ways to better-serve them. And that's not math. |
Rod Aparicio
Get one tip, question, or belief-challenge that just might change the way you market, to help your customers buy. A *daily* email for b2b founders on improving your business —without the bullshit.
Yesterday's message on this Super Deluxe book for 4 105.00 EUR is Wings, by Paul McCartney. A limited edition, signed, with a numbered copy. Is people paying for the time and materials he put into it? No. Is people paying for how long it took him to get the book done? No. Is people paying because of the story in the pages? Maybe. What they're paying for is for what having that limited edition, signed copy means: that they're having something rare. Furthermore, is the price fair? To the ones...
Super Deluxe Hardback Book in Cloth, Slipcase with Exclusive Blue Color LP. 4 105 EUR Would you pay for this? Material production costs. 35 - 50 EUR Effort put into it. A lot. Does it make this worth it per se? Signature. 0.5 EUR in the ink used. It's just a book, after all. Unless, the price is not about what's the book made of. Or the cover. Or its story. Or the attached LP. Or because it's "deluxe". Or even the signature.
Business is not busyness. Being busy doesn't mean you're actually bringing value to your business. And even worse, you might not bringing value to your customers (the right ones). You might end up full of tasks, to-dos, overwhelm and choose to focus on every customer (because they're all important, right?). And what you're doing is choosing to ignore your most profitable ones over the ones who are not. Keeping that game for long will end in only busyness —quite likely without a business.