Allow me to share the success story of a client of mine:

My client sells a high-end product at very affordable prices, yet, when he came to PerSyst Consulting, he was frustrated that he was somehow failing to gain traction and expand his sales base.  How could this be?  High-qulity products at low cost...what more could customers ask for?

Research 

My client was relying on price-driven sales. 

Performing a market analysis, we found that his desired demographic viewed his company as a cheap vendor. They presumed he did not have the quality they desired.

Tweaking the perception

My client needed to triple his prices to be at the same price point as the competition. We discussed the ethical quandary of such high mark-ups for days, and in some ways, we still do! But, he simply had to raise his prices in order to grow his business.

We also spread the word that now, not only do we offer the best product, but valuable services (services the research reflected would be valuable to the market). Fundamentally, there was no real change - just a change in perception.

Results

The number of new customers increased overnight. More importantly, his quality clients not only purchased their normal volumes at the higher prices, but actually INCREASED the amount of product purchased.

We lost some price-sensitive clients, but the bottom line sure doesn’t reflect loss. In fact, in many cases, customers didn’t just stay with him; they actually increased their loyalty.

Today, revenue is higher, the difficult clients have largely left, overhead is lower, and everyone is happier. His company expects a ten-fold increase in sales volume – that’s ten times the volume at three times the profit!

Daddy like.