Understand Your Buyer >How To Convert > Invisible Costs

 

What is it?

Often people choose cheaper alternatives or DIY because they simply don’t see the true cost of their actions. Just because you don’t get an invoice for something doesn’t mean it’s free… As such, we need to highlight these hidden costs to our buyers.

 

Why does it work?

It works because, respectfully, your buyer is often ignorant to some of the harsh realities they are facing.  It’s up to us to spell out the consequences of their actions to help them make the best decision possible.

 

How can you use it?

To do this we need to (politely) broach the subject of the costs your buyer will incur. These could include, but aren’t limited to:

• Lost opportunities
• Reputational damage
• Delays from errors
• Delays due to lack of ability / capacity
• Liability if things go wrong
• Having to purchase equipment/tools

Typically if a buyer proposes to do something “in house” they need to be reminded that they are already paying the salary for the person undertaking the work- so they are already “paying” for the job to be done.

 

See also

• The Hidden Choice
• The Law of Inaction

 

 

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