Almost the first thing anyone asks me about having an explainer video created is the price. Is that the only thing they should really care about? What if I said $100 and then produced garbage, would that really have been worth the $100? Shouldn’t the first question be, are your videos any good and who have you worked with? We all have a price point that we can afford for everything. I’m not going to drop $500 on one dinner, no matter how great the meal might be, I just can’t justify that expense. I’m also not going to go spend .99 cents on a taco at Taco Bell either. Both deliver a totally different experience and both are using price as a feature. One is a high price, so you assume it must be the best in quality and experience and the other is all about low price and it might not be the best but it takes care of a need. Either way, by using price to sell does nothing to explain what you are getting.
It should be about the experience and the quality you’re getting. If every choice was made off value alone, we’d all be eating McDonald’s for every meal and watching local public access. Paying a premium isn’t a bad thing when you’re getting quality and an experience that meets or exceeds your expectations.
No one has shown this better then Apple; millions of people pay extra for something that looks great and functions properly. If those millions of people just cared about the price, no one out there would be carrying around an Apple product. You have to decide what value you place on a service or product and if its important for you to pay for the cheapest possible, the most expensive, or somewhere in between.
Low prices might get people in the door but you need something for them to stay. Don’t worry if the guy down the street is charging $100 for the same service or product. The moment you try to match them on price, someone else will come in lower then both of you. In a race to the bottom, nobody wins. You try to compete by cutting costs and therefor cutting quality and the customer gets something that is disappointing and they end up unsatisfied. Don’t pay attention to the low priced competitor, instead you should focus on delivering a great experience that makes clients and customers want to come to you because of the quality and service that you deliver.