Business people often feel forced to lower their prices when the economy struggles or risk losing their increasingly cost-conscious customers. Fortunately, most customers do not make their buying decisions based primarily on price, even during recessions. They make their decisions based on value. To thrive in times such as these, you must convince customers and prospects that your company offers the best value, even if you do charge a slightly higher price. Here’s how…
Most entrepreneurs deceive themselves by claiming to know their competitive advantage. Discover the truth about your company, and you can send your sales soaring. [Honestly!]
Companies leave potential business on the table all the time. It happens in so many different ways: potential contacts not followed up, proposals that don’t go far enough or meet the specific needs of customers, so sales aren’t closed when they should be. One significant overlooked reason is often at the root of the failure.
I speak to CEO and executive groups nationwide and am continually told that their sales managers complain the sales staff wants them to “lower the price” so they can sell more. That is a common cry. However, when a company creates, measures and maintains strong competitive advantages that are most valued by the customer, that company will attract the very best salespeople and customers. It starts with strategic decisions and operational changes that make a difference.
There is a very serious lost discipline in most companies today. Many have wandered away from concerning themselves with competitive advantage and its impact on their bottom line. Sales people are struggling to compete on anything but price. Some have simply lost touch with what is and what is not a competitive advantage.
Marketing consultant and best selling author Jaynie L. Smith advises that you must know and be able to articulate your competitive advantages to beat out the competition.