Price vs. Value – Value Matters!

January 25, 2017 by Jason Alexander

Let’s be honest, pricing matters, a lot. Though it should not be the only thing that matters, until you can set yourself apart from your competition and show your value to your prospective clients, pricing is the only thing that matters to your new clients! It can be overwhelming trying to book vendors for  a wedding or event. It’s new to your clients and honestly, when you look at various websites, they mostly say the same thing. “We provide quality service, we use the best equipment, excellent customer service,” etc. All the vendors say this. So clients have no choice but to start comparing by price.

In the DJ business, nearly everyone has “quality sound systems, cares about customer service, mixes live at every event,” etc. So what sets you apart? Why are you the best choice for your client? Why do you deserve to be paid what you charge? If you don’t clearly know the answers to these questions, you should find these answers, ASAP! Setting yourself apart by communicating your value is the best way to not be affected by the price comparison. Find a way to clearly communicate why you are different from your competition.

If you don’t know what’s different about you, and you can only say “I’m just as good as my competitors, but I charge less, so hire me,” you’re NOT communicating your value. Booking clients simply because you charge less isn’t the best approach. Sure, it works, and you’ll get plenty of bookings, but do you always want to be hired simply because you’re the cheaper alternative? Probably not. If you simply want to fill up your calendar, this is a great way to do it. You’ll be very busy and all the while, you’ll know that your competitors are just as busy, but making more than you! Cheaper prices and discounts will surely get you the booking, but the client wins and you lose by making less!

My advice: find out what makes you different, now. What do you do for your clients that other DJs/companies don’t? Your value can be with what’s included in your packages, customer service, day-of-services, music playlist options, additional upgrade options, MC services, bilingual DJs, and anything else you can think of! Once you have these answers, find a way to communicate this to every client, clearly. When clients understand your value, you win!

Filed Under: Mobile DJ Business