May 11, 2017 at 8:37 pm | Blog
Do you feel commoditized? Are you fighting the price game every time you have a new opportunity?
We see so many companies succumb to price pressure because they don’t have a relevant value proposition. Often they miss the opportunity to provide solid confidence building in the sales encounter.
Nothing grabs the attention more of a prospect or customer than showing them how much time and effort you can save them. It is up to you, not them, to quantify those savings. Countless value proposition elements go unstated and may be hindering your close ratio and margins. Improve your business by making a list of the actions/products/services that make your customers’ job easier and/or more profitable. You may offer free training to their staff, or maybe your products are more reliable and have fewer defects causing fewer delays.
What does a delay cost them? Maybe you deliver quicker or more often than the competition. Perhaps your packaging allows for easier handling and reduces damage, or you provide storage
saving them warehousing costs Quantify the impact of these things. The more specific you can be, the bigger the impact. For example, “after switching to our product line, our customers reported an average 25 % boost in manufacturing productivity.”
Even better, quantify what this productivity boost means to their bottom line. How much more can they sell? Make it hard for them to choose the competition.
Ask your customers which of your value adds they positively must have then make sure you internally measure those things and hold employees accountable for consistent delivery of them.
Visit www.smartadvantage.com to see the outcomes from our clients who do this well.