Are you feeling the recession blues yet?
Many are. And if you look around you, companies every week is short of cash.
Everything is being cut back.
Competition is greater than ever. But customers are getting lesser. How?
Michael Masterson teaches that a good strategy – an evergreen one at that – is to under-price your competition.
For the cost conscious clients, cash is king. If you can fulfill the same service but at a lower price than your competitors, you are bound to seen as attractive.
Personally, I found that to be true. But price shouldn’t be the only focus.
It’s also about delivering well on your service. And to stress the value of your service is much more higher than the price you charge. So your customer will feel that they gotten a great deal.
I say don’t shortchange yourself. Go ahead to under-charge if you need to. But over-deliver. And let the client know that.
If you charge $1, let them know you are delivering $10 in value. Your clients are happy. And that can be a good start to a long term relationship. Everyone profits.
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