EducationQ&A

How does the conversation about price shift when customized products are in play?

Companies are having to “sell” in a whole different way, and part of that is just leaving the cost per item discussion out of the conversation. This requires a whole different mindset for sales because you are now more of a project manager, and you are creating programs for your customers that will drive the cost per impression down, not the price per item.

If I wear my XYZ-branded all-over personalized performance wear pullover every day, more people are going to see it. That means the number of impressions goes up.

On the flip side, if I have a more generic two-color plain old T-shirt from XYZ competitor, it will most likely end up at the bottom of my huge stack of T-shirts and only come out when I mow my lawn or use it as a rag in the garage. Not many people see it or even care as it looks like every other shirt everyone else has. So, that $8 T-shirt cost per impression might be $0.50 per impression, while the $30 pullover might have a cost per impression of a penny each. 

The shift is all about changing the perceived value of the product and not worrying about getting the 20,000 pen order, but instead getting the high margin shorter run projects. Also, think about adding value-added services like fulfillment, personalization, live events, and more.

For more on perceived value, click here.

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Aaron Montgomery

Aaron Montgomery is the co-founder of OurSuccessGroup.com. Its goal is to help 1,000+ businesses in 2020 reach their idea of success through training, community, and accountability. Aaron has 25+ years of experience with personalized products and small business development. You can also find Aaron co-hosting 2 Regular Guys podcast (www.2regularguys.com) He also has his own podcast channel and produces weekly live videos called Small Business Saturdays Series. New episodes are released smallbusinesssaturdayspodcast.com.

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