“It’s all about Price” Think again!

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I keep hearing from business owners across all markets that everything is driven by price. Of course, as budgets are coming under even more pressure, consumers and commercial buyers are more sensitive about price. However, it remains true that most people would still rather buy from companies they actually like and give them exceptional customer service.

If you compete just on price you will get driven into a downward pricing spiral because:

  • Your sales team will have a poor attitude and approach to sales
  • You will just be the same as every other company
  • You will give mediocre service – oh, and before you tell me how much your customers love you because you offer friendly, personal & flexible service; I have some bad news for you, I’ve heard it all before from EVERYONE!

In many cases if you give your customers a reason to go looking elsewhere then they will.

Did you know that 68% of customers move suppliers for one simple and astonishing reason? – PERCEIVED INDIFFERENCE

Here is a 4 point plan for keeping customers and preserving margins:

Find out what it is about your product or the way you serve the customer that is different. Define it and be clear about the benefits it gives the customer. Then, shout about it to your existing and future customers

Back up what you say about your product or service with a rock solid, confident guarantee

Document and critically analyse your sales and service processes – evaluate them critically – FROM YOUR CUSTOMERS PERSPECTIVE, NOT YOURS!

Build great rapport into your sales process. Understand your customers’ challenges as well as they do. Once you have built a relationship – keep working on it. Communicate regularly so they know you are still there and you still care.