Good Morning Educators,
Choosing a product or service solely on price is generally a losing situation and people almost always end up paying more in the long run when price is the only factor.
The home improvement industry in which we operate is notorious for focusing solely on price. A customer will inevitably ask us for “the lowest price” on their flooring. Unfortunately, if we quit caring, the lowest price won’t include the add-ons that drive the price up. (Better underlayment, better pad, higher face weight, etc). A lot of times, the final cost, with other contractors, ends up being much more than the original bid, and the buyer ends up paying a lot more.
Buyers who have preconceived ideas about what they want based solely upon price may not clearly understand the total cost or the best solutions available to them. To truly get the “best deal,” we must move beyond focusing solely on price and into the realm of customer value, factoring in price, quality, service and reputation. Doing this requires us to educate the customer. By providing our goods and services at the “lowest true cost” we don‘t always provide real long-term value.
For our customers, it is in their best interest to buy from someone with knowledge and understanding about the products and the market, someone who offers the best long-term value, has their best interests at heart and will go the extra mile for them. That’s the true definition of customer value.
Believe this and submit it to memory – we will be thankful when we are in front of “that” customer.
" The bitterness of low quality remains long after the sweetness of low price is forgotten." - Benjamin Franklin
“There is hardly anything in the world that someone cannot make a little worse and sell a little cheaper, and the people who consider price only are this man’s lawful prey. It’s unwise to pay too little.” - John Ruskin
Floors By Tomorrow
Auth Rep of Empire Today
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