Sep
8
There's been a lot of debate in HotelSphere about this, with two schools of thought on the subject.
As you might expect, there are two approaches:
The first takes the view that your prospects "self qualify" on the basis of price. You state your price, they decide if it's within their budget. If it is, they carry on reading about your offer, if it's not, they move on to somebody else's offer. Leading with a price saves an awful lot of messing about.
The second takes the view that there's nothing unique about a price. Every product has one. Leading with a price means you're not telling your prospects about they key benefits of your product or service. Price led customers are not loyal customers - if they come to you because your price was lowest, they'll leave you for someone elses (price).
As you might expect, there are two approaches:
The first takes the view that your prospects "self qualify" on the basis of price. You state your price, they decide if it's within their budget. If it is, they carry on reading about your offer, if it's not, they move on to somebody else's offer. Leading with a price saves an awful lot of messing about.
The second takes the view that there's nothing unique about a price. Every product has one. Leading with a price means you're not telling your prospects about they key benefits of your product or service. Price led customers are not loyal customers - if they come to you because your price was lowest, they'll leave you for someone elses (price).
Let's be frank here. Price is very important. It's the only one of the marketing "P's" to actually put money into your business. However price is just a small part of the equation your prospects consider when they're planning an hotel stay.
It is very tempting to lead with a price. But if you're going to make price your main competitive weapon, you need to be cheapest.
Cut your price; cut your quality; cut your throat.
Do you REALLY want to make price your primary selling point?
The Sunday papers are full of hotel adverts featuring either price or the hotel name as the main reason the prospect should visit.
What does that mean to your visitor? Will they come to you because you're cheapest? It all depends on what they want to buy - how can you quote a price, when you don't yet know what they want to buy?
At HotelSphere, the second point of view is winning the argument (for the moment) - lead with a benefit. Tell your prospects what the experience will be like. Appeal to the twenty or thirty other buying criteria they might be considering. Price is only one part of a very complicated buying calculation. if you only concentrate on your price, somebody else will be concentrating on attracting those customers who aren't quite so price sensitive.
That's the sort of customer you really want, right?
To answer the question: No, it is not a good idea to lead with a price. Price alone makes you no different from anyone else.
It is very tempting to lead with a price. But if you're going to make price your main competitive weapon, you need to be cheapest.
Cut your price; cut your quality; cut your throat.
Do you REALLY want to make price your primary selling point?
The Sunday papers are full of hotel adverts featuring either price or the hotel name as the main reason the prospect should visit.
What does that mean to your visitor? Will they come to you because you're cheapest? It all depends on what they want to buy - how can you quote a price, when you don't yet know what they want to buy?
At HotelSphere, the second point of view is winning the argument (for the moment) - lead with a benefit. Tell your prospects what the experience will be like. Appeal to the twenty or thirty other buying criteria they might be considering. Price is only one part of a very complicated buying calculation. if you only concentrate on your price, somebody else will be concentrating on attracting those customers who aren't quite so price sensitive.
That's the sort of customer you really want, right?
To answer the question: No, it is not a good idea to lead with a price. Price alone makes you no different from anyone else.
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