I bet you have once wondered or are wondering right now, why that guy is selling so much better than you, when your product is so much better than him. But at the same time, all your competitors are pricing low, so despite your better judgement, you do the same. You feel like you’re stuck because of some incompetency you can’t see and society anchoring you down with it.
This kitten looks more content than you. (photo by marinadelcastell)Why is that? Why are you not getting paid what you’re worth and how do you get to it? Most likely, you’re thinking about things all wrong, and need to get past these three basic mistakes.
1. You have the wrong audience.
This problem isn’t as obvious as asking a little girl to buy an industrial chainsaw. The problem actually lies within you more than you’d want to believe. If you offer discounts left and right, who are you attracting? The people who only buy things with discounts, or the people willing to spend more for quality? By applying cheap business philosophies, you will attract people with similar views.
2. You focus too much on the product, rather than what it can bring.
Look at your website and ask yourself:are you stating the features of your product, or are you telling your audience what your product can do to benefit their lives? Do people really want airbags in their cars, or do they want safety for their family? Do they want better mileage, or less visits to the gas station to interfere with their schedules? If you list features like a cheap warehouse catalogue, you treat yourself as a commodity. But once you share with others how you can complete their lives, you become a necessity.
3. You compare yourself to others.
At first, it may sound smart to see who you’re up against and weave through them using upgraded versions of their tactics. After all, they’ve been in the business longer than you. You mark down when they mark down, because obvioously their sale will detract customers from you. But take big companies who price so much higher than their competition, and still sell like hotcakes. How are they able to keep up? They focus on themselves and know that they provide a better product.
4. Lastly, think big.
I mean really big. Gargantuan. One of the reasons you might not be getting paid what you’re worth, is because you’re not offering what you’re worth. And I’m not talking about spending more hours mindlessly doing twhat you’re offering. By offering the best product you can and selling it for what it’s worth, you’ll definitely feel more valuable and more content.
Stop focusing on what you’re selling, but rather how it will make the customer whole. Know what you do, then answer all the whys.