There is a difference in cost and price. Price is what you initially pay for something and cost is the long term investment into that item. For example, as a photographer, you may see the price of one lens at $150 to be better than a similar lens at $600, but what is the long term cost if you have to buy (2) $150 lenses, lose time on repairs and the quality is just not as good as the higher priced lens then end up buying the $600 lens after being frustrated with the cheaper lens. You'll get a better idea of cost and price by watching this video that is less than 5 minutes long.
Here's a brief overview:
We have been conditioned to believe what we see doubt what we hear. Therefore, when you have a change to write it down to show a prospect as well as let them hear, you have a better chance of getting the business.
Find a story that works in your industry. This is one that Zig shares in this video about purchasing a bicycle for his 6 year old son.
$64.95 Schwinn Bike vs. $34.95 Cheaper Bike
$34.95 + $4.50 (repair) = $39.45 + $15 (repair) = $54.45 (Lasted 6 Months - $9 Per Month)
Then went back to $64.95 and road solid for 5 years and casually for 10 years. The annual cost over 10 years was $6.50 per year. What he didn't repeat is how he had already spent $54.45 on a bike that already lasted 6 months. So his cost really included the cheaper bike plus the nicer bike.
A lot of people can be us on price but no one can beat us on cost. Price is a one time thing and cost is a lifetime thing. Don't you really want the lowest cost
Tomorrow is Sunday and I'm posting another Zig Ziglar video that is part of my Sunday motivation series to help start your coming workweek off right. If you are not subscribed to get blog post updates by email, please be sure to sign up while you are here.
Latest posts by David Williams (see all)
- Getting The Canon 5D Mark IV – Several Months After The Release - June 17, 2017
- Attracting & Retaining The Right Clients For Your Photography and/or Video Business - February 16, 2017
- Your Photography & Video Pricing Strategy For 2017 In The Raleigh NC Market - January 15, 2017
- The Magic of One Light with Joel Grimes - December 28, 2016
- Profoto D2 – The world’s fastest monolight with TTL - December 28, 2016