What,your,value,Iknow,talk,lot marketing Whats your value?
Automation technologies represent a fundamental aspect of any modern industry. The major types of industrial automation solutions, such as DCS, PLC, SCADA, and MES, are used on a large-scale in process and discrete industries.DCS technologie Awhile ago, I got an email from one of the "gurus" I follow and it shocked me. The gist of it was this person wanted to trade services for a household item.To say it floored me would be an understatement.What was worse was a few days later t
Iknow we talk a lot about understanding the value of your product or service.Today Id like us to explore your value. Do you really appreciate what yourproduct or service does for your clients? Do you believe you are pricing it appropriately?Itis really easy to decide for your clients how much they can afford or wish topay. However, that is not the best way to price your product/service. Andheres why.1. ChaosYoull make it really hard to keep track ofwhat you are charging if your pricing varies by client. You want to have astandard and usual pricing for the vast majority of clients. Unique pricingshould be few and far between and only when the case makes a lot of sense. Anexample would be offering a first time discount when you strongly believe therewill be a lot of follow up business later. This is best done when there is acontract for long term work. That way you are guaranteed to receive therevenue, and the discount makes sense. Its like a good faith gesture. 2. DevaluationYou run the strong risk of devaluing yourproduct/service. This is risky. You are, in essence, trying to get into thehead of your prospect and make decisions for them about what they value andwhat they can do. If youre wrong (and theres a strong chance you will be) theresult is that you have actually told your prospect that your product/serviceis worth less than it should be. That is the belief they will have movingforward. It doesnt instill confidence and it doesnt guarantee they will hireyou.3. Failureto GrowWhen you do this you make it really hard togrow. You end up spending your time on underpriced work. Moreover, you can getyourself into a cycle where you cant get to the right-priced work. Youll endup frustrated and disappointed. This can even lead to re-evaluating your worthinternally. You know, when you are underpaid for too long you can startbelieving that its all you are worth.Notonly is this dangerous but it is also unfair to you and your clients. If westay with the premise that you have a quality product or service, thenundervaluing it serves no purpose. If you come across a prospect who cantafford what you have to offer, they just may not be a qualified prospect. Dontautomatically move to the position of lower your price. The long term impact ofthat decision can be devastating to your business.
What,your,value,Iknow,talk,lot