Some tradies lower their prices in the hopes to attract more clients.
Typically wanting to attract more clients to make more money...
But here's the thing...
The way you price your services says A LOT about the type of business you run, the quality of work people ASSUME you deliver, and the type of clients you’re going to deal with.
And the reality is...
CHEAP PRICES ATTRACT CHEAP CLIENTS!
If you decide to drop your prices, ‘Budget Buyers’ and ‘Bargain Hunters’ will be your biggest fans.
They'll jump at your cheap prices and STILL love to try and heckle you down EVEN FURTHER because they love a 'good deal'...
Premium clients looking for a premium experience on the other hand, will likely find your prices off-putting!
They will dismiss you, seeing your cheap prices as a ‘red flag’.
This is because great clients typically associate price with value.
The higher the price, the higher the value.
Likewise the lower the price, the lower the value.
KEY LESSON:
Next time you consider reducing your prices to win more work...
Have a serious think about the type of people you want to serve, and whether or not you’re sending them the right message with your pricing strategy.
If you're an electrician, plumber, painter, carpenter, or any other trade business owner who is looking to take their business to the next level, click here to learn more about how our team can help!
