When discussing Law #1 of The Go-Giver, “Your true worth is determined by how much more you give in value than you take in payment” it’s very important to know there is a huge difference between price and value. And, it goes hand-in-hand that, so often, what seems to be a prospect’s problem with the price is simply a lack of perceived value in the product or service being offered.
Sometimes, however, the issue isn’t “price vs. value” but…well, let’s hear from reader, Geoff Hamrick, Co-Founder of Group Story, Inc. , who wrote with the following question:
“Hey Bob. I’m still amped up thanks to the all-star speakers at The Big Event. Motivating. Educational. Incredible.
I understand the difference between price and value. But, what if the potential client’s issue is not value vs price but instead, ‘I don’t have time to evaluate your product?’”
Hi Geoff. First, thank you for your very kind words about The Big Event. I’m so glad you found attending to be worth your while. We certainly enjoyed having you there with us.
In answer to your question (and, of course, without any information other than what you wrote above), here’s my thought: it indeed appears that, as you say, at this point in the process, it isn’t even a matter of price versus value.
However, it mostly likely is time versus value. The only reason he doesn’t perceive having the time is because he doesn’t see the potential value as being greater than the time he would need to evaluate your product. If he did, he would then “make” the time.
Remember, no one “has” the time to do anything they don’t want to do. They make the time because of the perceived sufficient value of that which they will trade their time for.
So, the question now becomes, what do you need to do in order for that to happen?
While there are many marketing strategies that can be used, I’m going to suggest that it will all come down to cultivating a relationship with him in which the “know, like and trust” he develops for you is so strong, that he will make the time.
Why will he make the time? Because he is sold on you. He values you (and your character and competence, including the potential value you would bring to the table) more than he values the time it would take to meet with you.
Remember…people buy you before they buy your product or service.
As usual, friends and readers, do you agree? Disagree? Have suggestions I may not have considered?