How you treat price sensitivityAug 30, 2021
Prospect: "It's too expensive"
You: My prospects are price sensitive
Reality: No they're not. Most people in life are not price sensitive. They are VALUE SENSITIVE. If the value we get is greater than the price being asked, we buy.
Value though lies in the eye the beholder. Different people value things differently. Value is made up of perceived + actual value. It's why we pay more for a cup of coffee in Starbucks even though we can get a coffee for a lot less in the supermarket. It's why we pay so much more for a Coke in a hotel than from the corner shop. It's why some pay much more for a seat in the front of the plane even though everyone is going to the same destination
It's our job to extract what value is for each customer. And then position our offerings to maximise value. Having different options helps to appeal to different customers valuing things differently
Watch the video below to find out more about how to treat price sensitivity