A LinkedIn contact of mine posted this quote yesterday.
“The bitterness of poor quality remains long after the sweetness of low price is forgotten”
I’m not normally a big fan of having LinkedIn cluttered up with quotes (especially the pseudo inspirational ones that actually make little sense when you analyse them), but this one strikes a chord. In the field of training there are cheaper providers, and it can be quite frustrating when customers try to evaluate your services on a like for like basis with cheaper providers – because it is rarely like for like. Cheap providers are usually cheap for a reason, and doing things both cheap and well are not always reconcilable. “You buy cheap, you buy twice” is something people often say to make a similar point.
But actually, when you analyse the above quote it is deadly accurate. If the job is a bad one, how often do you still find comfort that the price was a good one? Conversely, when the job is a good one, for how long does the higher price still sting?
Dealing with a price sensitive customer can be difficult. That is not to say that there is anything wrong with looking for a good deal, quite the opposite, but cheap prices often come with trade offs, and being prepared to accept those trade offs is important.