In yesterdays article I told you that the fastest and easiest way to boost the profits in your Recruitment or Search Business is to put your prices up…
And although I stand by what I said…
I perhaps made it sound easier than it is…
Because although for you to put your prices up is as easy as you making a simple decision to just do it!
I understand that I can feel like a difficult decision to make…
In fact, raising prices is probably the area I get the most resistance and objections from the Recruitment and Search Firm Owners I work with…
I get it!…
And I’ve been their too!
(Even today there are almost certainly products and services in my own business that I’m not charging enough for)
It’s an uncomfortable thought that you making the decision to put your prices up could cost you future sales…
But the truth is, not everyone buys on price and price alone…
There are even people who won’t buy your services because it appears to cheap…
And I’ll even prove it to you…
But there’s more.
Because although I’m willing to prove to you almost no one ever buys on price alone…
I’m not going to do it for nothing.
I want something from you in return. No, it’s not your money I’m after…
Rather… I want a promise from you…
In short…
… if I can prove to you price really is not the issue with your buyers, even though you and they think it is…
… then I want you to test a price increase right now.
Seems fair right?
And if you can’t or won’t make that promise, then I’d much rather you stopped reading my posts and looked elsewhere for the answers to your marketing problems.
OK?
Good.
So, the Proof.
It’s simple. Here’s what I want you to do…
Go outside and look down the street where you live or where your business is.
(If for some reason you can’t do it now, just do it when you get home.)
Now, make note of a few things you can see and then answer these questions:
Are people living in the cheapest houses they can find?
Are the people you can see in the street wearing the cheapest clothes they can buy?
Are they driving the cheapest cars?
Are they buying only the cheapest food from the supermarkets?
Do they own the cheapest mobile phones?
When they eat out, do they only ever go to McDonald’s?
We both know what the answer is without even having to look…
A big fat NO!
Fact is, if people really bought on price all the time then there would only be one model or kind of anything: the cheapest.
The cheapest provider in any sector would have all the business and be dominating the market…
But we know this isn’t true. There are minis, Audis, Rolls Royces and Ferraris. If people bought their cars only on the price, then no one would join an seemingly endless waiting list to splash out a couple of hundred grand for a Ferrari.
I can even bet that in your market there are people charging more than you do for the exact same service and who have more business…
And I bet there are even people charging less than you do for the exact same service and who have less business than you do…
So yeah… There’s your proof!
Now, there are two things we need to focus on.
The first is…
… when people do buy on price… why are they doing it?
And the second is…
… what do they want instead of low price?
Answers to come, all in good time!
Speak to you soon,
Until then…
Take care, take action and be relentless…
Terry Edwards
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