Pricing Your Painting Services: Finding The Balance of Price & Quality
As a painting contractor, you know how important it is to price a job right. But, there is also something to be said for quality over price. Sure, you can use cheaper materials such as low-grade paint but will your customers really be happy with results? Finding the right balance between quality and price is the key to growing your painting business with happy customers and healthy margins.
Why The Lowest Price Isn’t Enough?
You can certainly get business by being the lowest price in town, but your company may suffer when you aren’t able to live up to the expectations of your clients because your quality isn’t there. Lower prices mean you have to cut somewhere and this usually means that material grade and worker quality suffers. Using a lower quality paint won’t produce the best results and will need repainting sooner. While this becomes an issue down the road for the customer, the most profitable service contractors rely heavily on referrals as free marketing. Skimping on paint that deteriorates in the future creates unhappy customers.
While you may be able to secure some business with low prices because some customers aren’t willing to pay for quality but what are you sacrificing to do this? Your business may be operating by the skin of its teeth with very little margins that don’t allow you to upgrade the tools needed to complete a paint job in the proper fashion.
Price is a determining factor in a customer’s buying decision but it is not the only thing they take into account.
How To Sell On Quality vs. Price?
Here are four tips to selling on quality vs. price and win that business every time.
1. Develop A Relationship
By building a relationship with your client they will see the value in giving you the business. It is harder to say no to a friend and someone you like than someone that you customer doesn’t see eye-to-eye with. Create that connection with them and build their trust that you will provide a job well done that will exceed their expectations. Having a connection with a customer will help forge that relationship and make them a client for the long haul and the life of their home.
2. Rely On Your Past Clients
Obviously, you have created many happy customers in your business interactions and now is the time to reach out to them. They can provide you with referrals, references, and testimonials that can prove to new customers that you are worth the price you are asking. Having a new customer see firsthand the quality of your work can make the decision to hire you easier as a new customer will know what to expect and what they will get in terms of value from your services.
3. Have Your Customer Envision The Results
When you get your customer emotionally involved in the project they will be more apt to spend more to get the final product they seeking. Don’t just tell them, but show them how you can go above and beyond to provide them the look that they are envisioning. The more intimately involved in the outcome your customer is with the finished project the more willing they will be to pay for value when it means that they will have their dreams fulfilled.
4. Reduce The Risk
If you’re selling your services at a premium price, you need to address the elephant in the room. Showing your customer that they are risking their project by going with someone lower priced can give you the edge you need to win their business. The risk may be lower going with someone that is more experienced and has done the work before. Customers are also concerned about what they have to lose and appealing to this pain point can help push a customer in your favor as the risk to them is lower. Proving to a customer that your painting services will provide what they are looking for without worry will set you up for success every time.
Stick to quality in your business and you will develop the customer base you have been looking for. Plus, you will be proud of the work you do. You may not be able to be the lowest priced painting contractor in the market you serve, but you can be the best quality painter in the area.
When it comes to quality vs. price, always choose quality first as there are plenty of customers out there that will choose your business because of it. Low prices can only take your business so far and you want to be in the painting industry for the long haul. Quality will produce the results your customers are looking for and will give your painting business the success it is looking for.