You Get What You Pay For. Why Not to Drop Your Prices.

When it comes to business, there is something to always keep in mind, you get what you pay for. And it couldn’t be more true when you turn it around. If you are providing a service/product, and you’ve set it at a fair price, then why would you lower it? Because a competitor lowered their prices and are receiving increased customer base? No! NO! and again NOOO!

Let’s think about something here, if Carl the competitor lowered his prices, don’t you think that he would have to cut corners on the services/products somewhere to make up for the decreased charge? And isn’t that, in truth, being dishonest to the customer? NEVER lower yourself to that level. Never be Carl, here are two very summed up reasons why NOT to drop your prices…

1.) Whatever Your Price, Someone Can Do It Cheaper

2.) It Devalues Your Services/Product

That’s it, two HUGE reasons why you should never drop your prices. And when you think about it, it’s pretty much common sense. Why lower your prices by 5% when Carl lowered his by 10% therefore allowing the customer/client to demand a 15% discount in order to go with you? That’s not smart business. But when play the “let’s lower prices game…” that’s the price you pay… As stated above, if you know that you are offering a service/product at a fair price, why would you lesson your value as a business? Why would you want to be seen as the “cheap guys,” when you can be seen as the “go to.” Here’s the thing…people want the best. And they are willing to pay whatever it takes to get it. It’s up to you to be it…or you can be like Carl…it’s up to you.