Ever buy something that costs less than the thing you really wanted because it looked all right and somebody said it would work just as well? Then, when it didn’t live up to your expectations, did you tell yourself you’d gotten what you paid for? We’ve all done it.
Stop selling on product and price!
Yet, people continue to buy based on appearances and price…and to make them comfortable about products that can’t be tried before they’re bought, both makers and sellers issue liberal promises. Those promises are on the web, in advertising and sales literature. They are repeated by sales people, and reinforced by warranties.
But, customers sold on unfulfilled promises can be lost forever once they are unsold. The web and social media give these unhappy customers a megaphone to declare their disappointment, frustration and, occasionally, raw bitterness.
There is a way, however, to beat the price game, still make the sale, and keep the customer satisfied. The answer is to add value to your product lines. And, the way to do that is to stand out from the competition.
The real key to unlocking growth with your customers is to align your business with their needs
Truth is, having the right product at the right price and an acceptable level of service are the cost of entry today. You have to stop selling product features and specifications. You need to start selling
- Customer success
Your customers, like all of us, are bombarded with thousands of messages everyday…family stuff, business, the news of the day, social media, advertising, email, sales promotion, publicity. The trick is to avoid having your message lost in the daily clutter. So your customers know who you are, what you have to offer, and that you care when they’re ready to buy.
Looking beyond products
It’s the “care” part that makes you different. You have to guarantee their satisfaction. Your sales people must be knowledgeable. You have to offer the best products available in every price range…best for the money, best for the application, best for builder, best for remodeler and homeowner satisfaction.
You’re an expert at what you do. That means you need to look up from the day-to-day business long enough to identify market problems and turn them in to advantages. Do this customer by customer with the goal of being the supplier who is most committed to their success. Leverage your strengths as the marketplace expert and resource.
Why adding value is good for your business
The end result? You will stand out in your customer’s minds. You will make your competition irrelevant because all they are selling is product. And if they are using price as their primary sales tool, this strategy makes price less important.
That’s why adding value is good for your business. Because aligning to customer needs benefits you with…
- Increased customer loyalty
- Less price sensitivity
- Higher sales
And, that helps you stand out in a crowded marketplace, beat the market’s economic swings and pitfalls, and increase sales profitability.
For other posts on value from Channel Instincts, see Are You Ready For A Dog Eat Dog World? and Are You Delivering Real Value to Your Customers?
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