You will get haters when you run any business, but if people complain about your prices, it’s because you are not showing enough value. Dropping your prices should be the last thing you do to be competitive. Your margins are probably already tight enough and the last thing you want to do is engage in price wars. Using price as your selling point is an indication that you need to get back to developing what makes your product a unique proposition.
For any product or service, there is only one business that’s the cheapest. While your buyers may shop the lowest price, it is value that they really want. When value exceeds price, price is no longer the issue. I’ll show you an example of this where we had a customer recently complain about my prices on Facebook, so this was how I handled it:
I support the USA and if that means some of my products have to be more expensive, then so be it. When value exceeds price, then price is no longer an issue.
Go visit another country for a couple of weeks and you will appreciate all the comforts and freedoms that are so accessible, prevalent, and normal in this country. While it seems popular to criticize what America does wrong, I would love to see more people stand up and defend all that America does right! This is not to suggest I am unaware of the number of things we can do better, but all the complaining, the problems, and the challenges do not change the fact that this is the United States of America. I see the positivity in the future, a land of true opportunity.
I make real estate acquisitions knowing that, regardless of today’s problems, America is a great investment for the long-run. My brother’s friend visited from Portugal and bought property because he saw so much value here. An Australian businessman flew in to meet me at my home, and I asked him why he was shopping for real estate in America and he said, “It’s America!” That’s enough reason alone!
Americans might pick you apart for the price you charge, but remember that this happens in every business unless you are the lowest cost provider—which you don’t want to be. Showcase the value your offer brings, and when you do that well enough, price complaints go away no matter what country you live in.
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Isn’t America great?!
GC
