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From The Sales Success Audio Series For Professional
Builders, Remodelers & Renovators ...
The 'Price-Shopping Myth' That's
Sucking Profits
From Your Business
One of the greatest myths in the construction industry is
the one of 'price-shoppers'.
Speak to any builder or remodeler and price-shoppers seem to
exist everywhere. Prospects want to know "how much per square
foot" and "how much does it cost to build a _____?"
And, of course, the worst crime of all -- a homeowner who chooses
their contractor based largely, if not solely, on price.
The frustration of professional contractors is understandable but,
what most industry professionals don't realize is ...
Only 14% of The Population Are True Price-Shoppers
and Tire-Kickers!
Brett Martinson, an industry consultant who creates profit-building
and sales-boosting products for builders and remodelers,
recently discussed his favourite strategy for dealing with
'price-shoppers' and 'tire-kickers', with Caroline Jordan, a
business consultant and president of The Jordan Result.
"I believe that too many builders and renovators think that
price-shoppers and tire-kickers are just that," Brett says,
"they're price-shoppers and tire-kickers, and they're to be
eliminated or avoided.
"These people do exist, but what contractors have never been
told is less than 14% of population buys on price alone!"
Brett explains that, "the reason most people are labeled
as a price-shopper are they tend to open a buying conversation
with 'how much?' "
This merely shows a lack of knowledge for what the person is
buying -- not a person solely focused on price.
"A nation-wide survey showed that 76% of buyers make their
decision based on the confidence and trust they have in the
salesperson," says Brett.
"The first thing a buyer tends to do, whether they're buying a
computer or hiring a contractor, is to go to a place they know,
or ask friends for their suggestions," Brett says. "And the sole
reason is, they're looking for someone to trust!"
"Price only gets in the way because they don't understand, in the
case of hiring contractors, R-values, ICFs, 16" O/C, and other
equally confusing industry jargon that eludes the general public."
How To Separate Price-Shoppers From 'Real' Prospects
For Brett, it's all about converting 'mislabeled' tire-kickers.
"We want the prospects to have the right information in their
hands to realize that not all builders and renovators are built
the same -- excuse the pun."
Brett continues,
"You can eliminate a large portion of your competition by
distinguishing between a professional contractor and a
'nonprofessional' one
, like one that side-steps things like proper insurance,
permits and other similar items that are important for the
homeowner to know about ... but generally are uneducated in
those areas."
But Brett also takes it a step further.
"Even within the professional ranks, you do things differently
than your other professional competition out there. Therefore
you can start to differentiate yourself in that area too," Brett
says.
A Sure-Fire Way To Stand-Out From
100% of Your Competition
... That'll Win You More Projects!
"For example, you'll always see builders and renovators talk
about insurance -- 'You need to make sure builders and renovators
have insurance.'
"But the average person doesn't know what 'insurance' means --
your prospects may think that's a good thing, and maybe some of
the unprofessionals have insurance, but not the right kind, or
enough of it," Brett adds.
"So in your flyers, ads, other marketing material, or just in
your conversations and meetings with your clients, you can help
them choose a professional contractor by telling them:
'One of the most important questions to ask any contractor is
what type of insurance they hold, how much, and
can they back it up with a copy of the certificate?' "
But, according to Brett,
the most important aspect is to give the reason why --
the benefit vs. the feature of what you're discussing.
"Give the reason why they should be looking for the insurance,"
says Brett, "don't just assume they'll know the gravity of the
situation."
Why go to these lengths?
"Because most people don't realize that if a hammer falls from
the roof and goes through your neighbor's car windshield, the
homeowner may be held responsible if the builder or renovator
doesn't have the proper insurance," says Brett.
"More so, if a worker falls from the roof and ends up in the
hospital for six weeks, they don't realize that, again, they may
be liable if the builder or renovator you choose doesn't have the
proper insurance."
The Key To Creating Trust and Confidence In Your Prospects
By helping your prospects to buy, you create that trust and
confidence they're looking for, and they'll choose to work with
you simply because you focused on the reason most people buy:
trust and confidence ... not price.
"Don't just assume your prospects can decipher all the ins and
outs of the building industry," Brett suggests. "List the five
or six areas they should know about, and give it to them.
"Failing to do so just leaves your leads comparing on price,
looking like the 'price-shoppers' most contractors fear. But
76% of those 'price-shoppers' just need a trusting voice in the
industry.
"When you give them the information they need, they'll trust you
to guide them through the thick and thin of any project, and will
choose you regardless of any price your competition can throw at
them."
Go to
www.SuccessfulHomeBuilders.com
today and you can listen for FREE how one builder/remodeler eliminated
time-wasting free estimates from his business -- for good!
Sign up today
and start profiting from this amazing interview right away!
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