Pricing Table Topics: Queen of Spades – Compete on Value, Not on Price

This one is the Queen of Spades from the Impact Pricing card deck.

We really should be competing on value, not on price. We often think we're in a price war with our competition. We think our competitors are competing on price because we watch them give deep discounts to customers when we're in negotiations and we're wondering, why are they competing on price? But if you think about it, we responded with deep discounts on our products, and they look at us and they say, why are they competing on price? 

What we really need to do is hold our price, try to maintain that price at a nice high level, and instead explain why our product is worth so much more money than our competitors. If our competitors are going to lower their price, it's probably because their product isn't as valuable as our product. We need to learn what does value truly mean to our customers and help them understand how much value they're going to get. 

When we learn to create, communicate, value better, we'll be able to capture more of it in the way we price and the deals we close.

We hope you enjoyed this example of Pricing Table Topics. What you just heard was done without a script. If you want to get better at speaking about pricing and value, grab a deck of our playing cards, pick a card, read the saying, and talk for one to two minutes about what that card says. You'll become a better speaker and expert. By the way, you can also play card games.

If you have any questions or feedback, please email me, mark@impactpricing.com.

Now, go make an impact.

 

Connect with Mark Stiving: 

• Email: mark@impactpricing.com
• LinkedIn: https://www.linkedin.com/in/stiving/