Memecast #32: Don't Compete on Price, Compete on Value

<p><span style="font-weight: 400;"><a href= "https://www.simon-kucher.com/en">Simon Kucher & Partners</a> did a study that found that a huge percentage of people thought that they were in a price war. But when you ask the people who thought they were in a price war, who started it. It was like 80% said the other guy started it.</span></p> <p><span style="font-weight: 400;">Remember that last deal that came in and the sales person said, <em>‘Hey, we really have to do a deep discount. Otherwise, we're going to lose this.’</em> And so we did a deep discount. </span></p> <p><span style="font-weight: 400;">What is your competitor just seeing? They just saw you competing on price.</span></p> <p><strong><span class="JsGRdQ">"Don't compete on price, compete on value."</span></strong> <strong><span class="JsGRdQ">- Mark Stiving</span></strong></p> <p><span style="font-weight: 400;">We often think our competitors are competing on price, wherein truth, they're thinking the exact same things we are.</span></p> <p><span style="font-weight: 400;">How can we win more deals at higher prices? How can we change the conversation to value instead of price? So my recommendation is to focus much, much more on value than on price. </span></p> <p><span style="font-weight: 400;">See, if we can win deals that way your competitors are trying to do the same.</span></p> <p><span style="font-weight: 400;">We hope you enjoyed this podcast. If you see have any questions or feedback please email me mark@impactpricing.com. </span></p> <p><span style="font-weight: 400;">Now go make an impact.</span></p> <p><strong>Connect with Mark Stiving: </strong></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Email: mark@impactpricing.com</span></li> <li style="font-weight: 400;" aria-level="1"><a href= "https://www.linkedin.com/in/stiving/"><span style= "font-weight: 400;">LinkedIn</span></a></li> </ul> <p> </p>