Where Does Price Fall On a Client’s List?

Recently a client asked me this question. I thought I might as well share my response with all my LinkedIn connections.

“I have heard many people say that price is way down on the decision-making list. Do you know exactly where it is on the average person list?

This is one of those questions where I get to use my best consultant answer: It depends!

Price is where you and your industry have placed it on the buyer’s list.

The more a prospect wants to be educated and comes to understand how much value they receive in doing business with your firm the more they will pay. The less a prospect wants to be educated and understand how much value they receive in doing business with your firm the less they will pay.

If they ever come to believe that you may be the only firm in the world who can give them what they really want then they will pay a premium to do business with you.

Many companies fail to understand what their customers really want and then further fail to understand how to differentiate themselves from everyone else in their business. Your clients or potential clients want to find a way to tell one business from another. If you don’t give them a way then they will choose the only way they can seemingly measure — price.