What My Mom Can Teach YOU About Pricing
When I was a kid growing up, my mom worked most Saturdays at a local bank.
She’d call the house around 9 am (that’s as LATE as we were allowed to sleep in) and she’d say…
“Your “Cinderellies List” is waiting for you and your sister.
Make sure to have it all done by the time I’m home at noon.”
So for those of you who didn’t have a “Cinderellies List” as I did…here’s what I’m talking about.
My mom would have a BIG piece of paper waiting on the kitchen table which said…
“Good Morning Cinderellies!” (Her twisted version of Cinderella)
“Here’s the list of what has to be done today – if you FIGHT – you ALSO have to mow the grass and wash the car:”
- Make a pan of brownies
- Vacuum
- Dust
- Clean bathrooms
- Wash 2 loads of laundry
- Take the garbage out
- Have lunch ready
Love, Mom
Yikes. We VERY QUICKLY chose the list that was less work.
So what can my MOM teach YOU about selling?
Compare Something BIG to Something Smaller
I’d bet when a customer asks you about YOUR pricing you start with the LOWEST amount and then offer a range ie/ We have packages STARTING at $99
Uh oh. You need a lesson from my mom. Because remember – what your customer (or your kids) will remember – is what you SAY FIRST. My mom positioned washing the car and mowing the lawn IMMEDIATELY as the big comparison – it made the rest of the list LOOK EASY!
You ALWAYS position your products or services in COMPARISON to something else. (Sometimes even what a competitor is usually charging)
Show the VALUE of what you normally charge. Show what you’d normally charge per hour. Show what the retail value is.
Your Diva Assignment this week is to review your rates and pricing. Are you positioning expensive products without COMPARING it to something EVEN MORE expensive? Or you’re having a sale but you don’t compare it to anything?
Fix it.
So there.
Love from Your Sales Diva,
Kim
P.S. I’m devoted to helping as many women entrepreneurs and women in sales as I can. If you know of someone who would love to learn HOW TO SELL THE RIGHT WAY, then please encourage them to sign up at www.salesdivas.com and we’ll get them on the track to success!
I would have never considered that; and I make the mistake of offering the lowest price first, almost daily!! -Thank you!!
Comment by Sarah — February 17, 2010 @ 6:13 am
Sounds just like my Mom too! The analogy I use is that’s it’s much easier to ski downhill. Give a few options, starting with the higher-priced (more bells and whistles) down to the other one or two lower-priced options.
In the current economic climate it is all too easy to forget, or panic (a sale’s a sale, right?), and start with the lowest price.
We’re all supposed to be professionals, and often we have to put our discomfort to one side, and make the recommendations of a professional (not the cheap, more comfortable, suggestion).
Thanks again Kim for all of your “family wisdom” – it’s brilliant!
Paul.
Comment by Paul McMenamy — February 17, 2010 @ 7:04 am
Boy Kim, this hit home. My mom was a working mom too and would leave our list on the bathroom mirror! I swear, it was the same list! I get what you mean about pricing …can you give us more examples.
Thanks,
Bonnie
Comment by Bonnie — February 17, 2010 @ 11:41 am
This is exactly why I love “Diva Sales Tips.” I know that I can come here and find valuable information, even as a man, and leave with a new tool to knock the socks off my competition. Thank you Kim for another nugget of advice. I will be back.
Comment by Spencer — February 17, 2010 @ 1:37 pm
Hey I love all the Sales Diva Dudes that are subscribers! (So you’re not alone Spencer! Ha)
Thanks for your comment – I appreciate it!
Kim
Comment by kimduke — February 23, 2010 @ 10:59 am
Hi Sarah,
Yikes – I’m glad I was able to step in and hopefully stop your daily habit!
Thanks for your note – let me know how it works for you lady!
Kim
Comment by kimduke — February 23, 2010 @ 11:01 am