As a copywriter, I often come across prospects whose primary concern is the cost of my services. But it doesn’t matter what line of work you’re in, you’re always going to deal with bargain shoppers. Bargain shoppers are customers whose decision making process is guided by price alone. They’re just concerned with finding the lowest possible price. Nothing else matters.
In my early days as a freelancer, I would give in to these bargain shoppers because I was scared of not having any work. But I quickly learned that it was much better (and more profitable) for me to spend my time focusing on achieving higher quality customers than to bounce from one low paying job to the next.
Here are 3 reasons I stopped dealing with bargain shoppers.
- They always want more for less—Every time I’ve ever gone into business with a bargain shopper, I’ve had to work my butt off just to keep them happy. They tend to demand much more of your time and energy, but they’re paying less than anyone else. Imagine that. Clearly, it’s not a recipe for business success.
- Bargain shoppers have no loyalty—If the only reason someone chooses to do business with you is because you have the lowest price, guess what’s going to happen when they find a cheaper service provider. They’re going to ditch you and go with them. Battling for business based on price alone is not a sustainable strategy in most cases.
- Bargain shoppers spawn more bargain shoppers—One of the things I’ve noticed over the years is that whenever you do business with a certain type of customer, more customers of that same type tend to show up. In other words, when I was chasing the bargain shoppers, more bargain shoppers started getting in touch with me. But when I started focusing my efforts on higher quality clients, the bargain shoppers went by the wayside and more high quality clients started showing up. It’s funny how that works.
You might be tempted to appease bargain shoppers, but heed my warning. It’s always more trouble than it’s worth. Give me 10 quality customers over 100 bargain shoppers any day.