So why do so many salespeople and businesses believe price is the most important factor?
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Customers will buy on price if you don’t show or give them any other reasons why your product or service is different from your competitors.
Big mistake, when you do it once you set a precedent for the next purchase. And the next, and the next…
In must industries what happens over a period of time is products become increasingly commoditised. The industry goes from a little concerned to full-blown panic and a price war emerges. This isn’t going to end well with suppliers losing margin in the fight for sales.
You’ve only got to look at the current situation in our high streets to see this for real.
Stop Competing On Price!
You must stop competing on price!
- Put together a questionnaire and send out to your customers and ask some questions like:
- Why do you buy from us?
- What could we do better?
- If you didn’t buy from us, who would you go to and why?
- What other products (services) would you like us to provide?
- What’s your biggest challenge at the moment
- Talk to your customers and ask the same questions.
- Collate all the answers (you’ll be amazed at the results) and use your team to discuss how you can change:
- Your sales approach
- How to develop your product to serve customer needs better
- How you could add more value and further products to your customers
- Don’t stop, keep finding more and more ways to talk and build relationships and trust with your customers
“If you always do what you’ve always done, you’ll always get the same result” Henry Ford – Founder of the Ford Motor Company
So, what do you do now?
If you’ve read this far, you’re clearly not happy with your business. As I see it you now have 3 choices:
One of my clients and now good friends, Adrian, has a great saying (he’s from Yorkshire, so it’s even better in his accent!):
“Only s**t happens, everything else you have to make happen yourself!”
Great stuff and good luck, you’ll be well on your way to very quickly having a much easier business to manage, you’ll feel rejuvenated and start to really enjoy your business again.
If you need any further help please check out the free tools on our website, www.betterneverstops.global
Check out www.betterneverstops.global