How to Convert a Price Shopper to a Value Shopper
Price shoppers typically want the value and don’t want to pay for it.
The following story can be used to break the ice with a Prospect who wants a lower price.
A man has a raging tooth ache. His face is swollen and the pain is intense. He makes an appointment with a dentist.
The dentist looks at the tooth and explains to his patient or prospect if you will. The gums around the tooth are badly infected. If the tooth isn’t removed the infection can spread to the surrounding area.
The patient says how long will it take? The dentist replies,” not more than ten minutes and you will be out of here”. The patient replies great I don’t have dental insurance, how much will that cost to which the dentist replies $1500.00 hundred dollars.
The patient is in shock and says can you do it any cheaper. The dentist says of course. I won’t use any anesthetic.
And I can drop the price to $700.00 hundred dollars. The patient says oh no no no please use the anesthetic.
After a brief reflection the patient say, ‘You know dock $1500.00 dollars seems like a lot of money for ten minutes of work.
The doctor replies’ I understand how much do you think it is worth to remove the infected tooth to which the patient/prospect says about $500.00. The dentist now replies, that sounds about right I will remove your tooth won’t use any anesthetic and it will take three hours to remove the tooth.