Enough is Not Enough
Today’s selling environment is more competitive than ever.
In almost all situations, there are more companies now offering similar or the same product lines. Traditional “brick and mortar” businesses are often forced to compete with online companies which incur much lower expenses and can be profitable at lower prices. And with the amount of information on the internet, buyers are now able to be completely familiar with your product or service, and your reputation before you even initiate your first contact.
“It is no longer enough just to have the best product from the best company at a fair price.
You now have to bring more to the equation.”
– Jeff C. West
Follow these thought steps to increase your sales.
Never Sell Based on Price:
People who yelp about their low price are just barking at the wind.[lightbox link=”https://jeffcwest.com/wp-content/uploads/2015/03/IMG_3672.jpg” thumb=”https://jeffcwest.com/wp-content/uploads/2015/03/IMG_3672-300×200.jpg” width=”300″ align=”left” title=”IMG_3672″ frame=”true” icon=”image” caption=””] Low price only matters when you are in a commodity driven business model and have no opportunity to bring more value to the customer’s table. Those situations are extremely rare. Even though some buyers will communicate that price is one of their top concerns – they are also very much aware that they will “get what they pay for.”
Justify The Investment by Bringing Value:
Take the time to list the various ways you and your company can bring value to your customers that goes above and beyond the transaction. If your company has never taken the time to work through these issues with you – gather a group together and brainstorm. What are the value-adds that you and your company may provide that will be of little or no cost to you, but bring great value to your customer? What is the unique value proposition with your company that brings value that your competitors cannot provide? When you think you have enough on your list – add more. Enough is not enough anymore.
Effectively Communicate Your Value Difference:
See the buying decision as a scale of value in your customer’s eyes. On one side is the price of your product or service. On the other side is the value that your customer receives. Keep stacking value on the side of the customer until the scale is tipped so much in their favor that their perception is not only that their investment with you is justified – but that your competitors are pretenders instead of contenders.
QUESTION: What value do you see in getting the key players of your company together to brainstorm about your unique value-adds you could bring?