Your Value vs. Client Wants
This DailyBlunt pairs well with: Total Eclipse of the Heart by Bonnie Tyler
In case you missed it, there is an eclipse today. To be honest, Bonnie Tyler doesn’t get a whole lot of time in our playlist, so figured we would take advantage of this moment.
Turn around bright eyes. Don't stare at the sun. Use your phone's camera instead.
Today we’re talking about your value. So.... what is your value, anyway?
Why don't they get it?
Are you tired of living out the same scenario over and over? Do your checkout counters, negotiation tables, or business calls make you feel like you’re living inside Groundhog Day?
It’s that one interaction we business owners hear every day that can make our heart stop and sink just a bit, and also brings a little frustration along with it.
The one where you just want to respond with “geez, I thought we’d been through this already!?!”
This is the interaction when you hear a client or customer mutter something along the lines of “oh no, that’s too much.”
Is Price Really a Negotiation Point?
Price is often the most frequent objection you hear from a potential client.
It could be when you’re trying to sell your flower to the guy who will turn it into oil, or when you’re negotiating prices with the retail store buyer, or even when you overhear a bud tender trying to upsell a client on the next product.
Instead of getting frustrated, or even worse, offering discounts that you might not need to, let’s take a step back for a second.
Why is your customer objecting to the price in the first place?
It's only one of two things.
One. You really are out of line with pricing in the market versus what you offer.
Or Two. You haven’t done a good enough job of showing why your product or service has value for what your client wants.
You won’t want to admit the answer, because it’s a tough one to swallow. It’s tough because it requires some real work and dedication to revamp how you operate.
But, the unfortunate reality is that the customer probably doesn’t see the value for what you have to offer, because you haven't done a good enough job explaining it in a way they understand.
Did you know that less than 15% of people will make a purchase solely based on price? That means over 85% of the time, the objection that sounds like it is based on price is actually something much deeper.
It’s easier for a customer to say “oh, that’s too much” instead of saying “gee, I hear what you are telling me about this product you have, but I don’t truly see why yours brings me a greater value and benefit personally that is better than this other thing I saw down the street.”
Why do some people buy a Toyota Camry and others buy a BMW 3 Series? They both have 4 tires and move people around on the road. But, the sales guy for the BMW probably did a good job of explaining why the client wants the BMW driving experience instead. (After all, happiness isn't around the corner. Happiness IS the corners... right?)
People don't buy what they need. They buy what they want.
As business people, we need to do a better job of presenting why our product or service has value. Not only that. But why does this client or customer want what we have to offer.
Keep this one thing in mind as you go about your day, and when you think about creating value for your audience.
Price is only ever an issue in the absence of value.
If your customer is questioning your price, then you haven’t done a good enough job of representing the value it brings for what they want.
And this is where the real work begins. The secret for higher profitability is in finding a way to present your value up front instead of fighting the price wars on the front lines.
Remember, in order to present a value that really speaks to your client, you need to figure out what they really want.
That’s what we are in the midst of doing here at CannaLocations. We've spent the time out on the streets talking with people and figuring out what they really want.
We know that you want to increase the size and scope of your business. We know you want to find a buyer who isn't flaky. We know you'd really like to just have it all taken care of for you.
But, we haven't shown you how it works.
At CannaLocations, we know how to move your opportunity forward and pair you up with buyers, sellers, investors, and partners better than anyone else around. We know how to get eyeballs on your deals. Heck, we know which people you’ll need from start to finish to get your deals done.
But, we’ve failed at showing you what it is we do and how all that traffic works. Until now.
Moving Your Opportunity Through the Channels.
See, we know that over 80% of our traffic is direct, rather than through a search engine or other source, meaning that people come to us because we put things together and that we have resources to make it happen. We know that we’ve had nearly 100,000 page views and 17,000 unique visitors to our site. But you don't know these things, because we haven't shown you.
Through our research and experience, we also know that if your deal is priced in line with the market that you’ll have a solid offer within the first 14 days. We also know that if you are more than 10% off in pricing, you likely won’t get any legit offers to come to the table at all until you bring the price closer to the market. Again, you don't have this data because we have only shared it case-by-case. Until now.
Getting a Closer Look
Our experience comes from never selling the same thing twice. We’ve had over 60 unique cannabis deals come through our doors. Over 92% of those turn into real deals.
Now, we’re able to show you real stats and trends for what you want. All the work we do to cultivate an audience can now be viewed with the click of a button.
CANNA VIEW clients and CANNA Premium Subscribers can now see our market statistics videos for each week in our Real Canna Stats section.
These videos outline not only how many eyeballs were looking at our pages, but also where they came from, how many pages they viewed, what their device was, their browser… you get the idea.
Our core mission is to lead the cannabis industry out of the shadows. We’re taking the next step forward in transparency by giving you a look behind the big curtain.
But that’s not all, we’re trying to set a new trend of openness and trustworthiness in the industry, and give other cannabusinesses like us a new avenue to create value for their customers.
We, the cannabusiness industry, need to improve our presentation across the board.
Once you master creating value in advance, then you’ll never hear a price objection again.
Need to get your deal moving? Give us a call at (206) 466-4020 or firstname.lastname@example.org. We can get you in front of your next buyer or partner.