Having been around for more than 20 years, we’ve seen our fair share of competitors come and go. We’re aware of the rental rates other temporary fence suppliers may charge. We also know we’re not always the cheapest option. In fact, this is hard to forget when we’ve had some potential clients flat-out ask, “Why is Modu-Loc more expensive?” This might seem like a tough question to answer, but we don’t shy away from it. That’s because when it comes to rental fence, we know exactly the value we can offer – and that is reflected in our pricing.
Before we explain the reasons why we might charge more than other suppliers, let’s talk about the difference between cost and value. Because rest assured, there is a difference!
For a customer to derive value from a product or service, they must be able to define their expectation of value. Good value may mean something different from one person to the next. Once a customer has determined those expectations, they may find that for a vendor to truly provide the kind of value they require, they may not necessarily be able to achieve the lowest price.
Consider the following example. You’re in the market for a new pair of shoes. You could spend $20 on a cheap pair of shoes that may be able to endure 100 kilometres of walking. Alternatively, you could invest $200 in a pair of shoes that will last you several years and perform reliably for upwards of 5,000 kilometres of walking. Whether you see a better value in the $20 pair of shoes or the $200 pair of shoes likely depends on how much walking you do or how often you expect to wear them.
Since value and cost definitely intersect, the best-case scenario is for a customer and their vendor to be aligned on the expectation of value and the associated cost. If a customer and their vendor are not on the same page, the likeliest outcome is disappointment for the customer.
Whether it’s “you get what you pay for” or some variation, this is a saying you’ve likely heard in your lifetime. In many cases, this is an accurate statement. Depending on your requirements and expectations, the lowest-cost option might not represent the best value.
When gathering quotes, don’t simply jump on the lowest-cost provider without considering the potential outcome. Make sure you do your research. Request testimonials or examples of completed work if you need to. This is a great way to verify that the vendor is able to deliver “good value” based on your specific needs.
Don’t discount the possibility that a lower-cost supplier – particularly a less-experienced one – may be overestimating their abilities or underestimating costs. If this is the case, whatever savings you’d hoped to secure may be negated by unpleasant surprises or hidden costs down the road.
With all that out of the way, we’re ready to address why Modu-Loc is sometimes more expensive than other suppliers. There are several reasons – all of which are closely related to the value we’re able to deliver.
When making big-ticket purchasing decisions in our personal lives, it’s rare that we automatically opt for the cheapest option. Was the last car you purchased the cheapest car available? Did you book the cheapest possible vacation? Did you purchase the cheapest house on the market? Most likely, you started by defining your requirements to narrow down the options, and then considered price for those options.
Similarly, when selecting a supplier, start by determining your requirements (or expectation of value). You can then obtain quotes to establish associated cost, and find the supplier that will provide the best value for the price. Of course, low-cost suppliers have their place in the industry. Like the $20 pair of shoes, sometimes they offer exactly the value that you need. However, you might just discover that the best value lies in a “more expensive” supplier.
We’re here to answer any questions you may have.