I was working out at home today doing a killer Crossfit workout with kettlebells, all the while listening to WAAF – Boston’s Rock Station, broadcasting on 107.3 FM. The DJ came on after one of my favorite hard rock songs, “Sweet Child O’ Mine”, by Guns N’ Roses. It was 25 years ago to the day that Guns N’ Roses released their debut album “Appetite For Destruction.” The first time I heard Guns N’ Roses, I was working out in a local gym and had just gotten out of the Air Force. When I heard “Sweet Child O’ Mine” coming out of the sound system – it was so loud that it was deafening – I knew GNR would revive rock n’ roll. At the time, the air waves were dominated with dance music and pop metal music.
Appetite For Destruction
The album title “Appetite For Destruction” reminds me of security dealers (Alarm installers, CCTV, Electrical Contractors, Home Automation, Locksmiths,and Private Guard Services) who are charging WAY too little for their products and service. Most folks are scared to friggin’ death to raise their prices for fear of losing business, but if you can’t maintain a healthy gross margin, my dear friend, you will most DEFINITELY go out of business.
Here, in my humble opinion, is some of the best advice on pricing y’all will ever get. I can and do charge high prices for my security products and services because the can and do deliver unbelievable results. Plus, we offer tremendous value, world-class support, and stand behind our products with a Brass-Balls Guarantee. We’re running highly ethical operations here and we treat prospects and clients like they’re 5 Star. So, without any further ado, here’s what I consider to be a collection of some of the best ideas, thoughts, and mind-set when it comes to pricing.
1 – Business is a game of MARGIN, not VOLUME.
2 – If you say to yourself that you’re going to cut prices and make it up in volume, you will be working 1000 X times harder to make the same money.
3 – It you base your security system pricing on your competitor’s pricing — and he’s going broke — you will soon, too.
4 – Security Dealers & Sales Reps who have ZERO sales skills will always use “LOWEST PRICE” as the sales tool of choice.
5 – You know your prices are too low, when you’re winning every project in town and not making a red cent in the process.
6 – When your competition starts complaining about the way you do business, your prices are probably too low.
7 – Just because your competitors prices are lower than yours, doesn’t mean that your price are even high enough either.
8 – Slippery and slimy security installers and sales reps, who are not trustworthy, will not be paid a premium price if they can’t be TRUSTED.
9 – Price Is Virtually More Important In The Mind Of The Security Sales Rep Than In The Mind Of The Buyer.
11 – Security sales reps who are most successful DON’T MESS AROUND with PRICE-SHOPPERS, and COUPON CLIPPERS. That’s right; They meet with folks who are PRE-SOLD in advance by the right marketing system that educates, nurtures, and informs their prospects and clients so that they are willing to pay top dollar for their services.
12 – Your Security Marketing Messages Should ATTRACT Your Ideal Client & At The Same Time REPEL DeadBeats, Free-Loaders, and Lookey-Loos.
13 – If you have a sales rep complaining that everyone is a price buyer, you need to fire his or her ass IMMEDIATELY! You can’t fix loser, there’s no use in trying.
There you have it! Hope you enjoyed!
P.S. The first place people are searching for your products and services these days are on mobile smartphones. We are dedicating the Smokin’ Security Group Coaching Call on Thursday night 7/26/12 @ 7PM – 8:30PM EST to the following topics.
- How To Create Mobile Enabled Websites For Your Security Business.
- How To Beef-Up & Optimize Your Local Google Business Listing.
- The First Results People See Are From Google Local, This Is True Especially On Smartphones.