Calling all decision makers from every business! I’m curious… What’s more important to you price or quality?
Decision makers are the most important people to those of us in business development and they are the ones making decisions based on price or quality. Them and purchasing of course. Too often I have found myself in a situation where price is their determining factor. At some point, not sure when, the number one priority became price over quality. I’m sure plenty of decision makers have been burnt by the cheapest guy and I’m sure some of them still go with the cheapest. For those of you decision makers that don’t buy solely on price; THANK YOU 🙂
I’m very interested in why businesses take the risk with the cheapest supplier over getting quality and right-first-time work. Anyone who’s a decision maker please feel free to reply…
What are the most important factors to a business decision?
Let’s use ROI, Brand Impact, Effect on Resources, and Opportunity Cost as our four main points. Now mind you I’m biased and personally don’t buy based on price. I buy on quality of work and personality of those I’m dealing with. Trust is also a MAIN priority of mine. If I trust you you’re in. If I don’t we won’t do business. Does anyone else feel like that?
- ROI (Return on Investment) – What is the effect on profitability?
- Brand Impact – What’s the effect on my image?
- Effect on Resources – How much time and people will this use up?
- Opportunity Cost – Is this the best way to spend my $?
These are four main points in a decision. Each can tip the scales towards price or quality. The important thing here is that you (BD guy) understand your prospect and make sure they know that you understand them.
Quality is the hardest thing to sell and price is by far the easiest. Be smart, outsmart your competition, impress the decision makers, and make a case for why your quality is better than anyones price. But always remember this when you’re going into a sale… Some will buy, some won’t buy, so what, and someones waiting for you to contact them. Keep plugging away and sooner or later you’ll find the ones your supposed to work with. And always remember this image when talking quality vs. price…
Good luck out there selling!