Competing on price is easy. Just drop your bid until the client says yes.
But we often unintentionally get in the way of this simple strategy by failing to adopt the competitive moves of our rivals.
A low-price strategy hates different. It hates standing out in the market. It dislikes focus, because focus feels risky. Blending in is key.
If you haven’t noticed by now, I am joking here to make a point. We often do compete on price despite our best intentions. And often times it is because we have a limiting belief. “It’s just how our industry works” you might say. But believing that “it’s just how it is” keeps you from finding a compelling reason for a prospect to purchase from you versus your rivals.
So we then (and I’ve made this mistake countless times) use the following on our website or in our sales presentations to explain why a prospect should do business with us:
- We partner with our clients.
- We are dedicated to delivering excellent customer service.
- We are the leading provider of (fill in the blank).
- We deliver on our promises.
- We are focused on helping you succeed.
So, how do you move your value proposition behind these table stakes? It starts with trying to discover the progress your customer is trying to make in her job and then finding a way to help her make that progress better than anyone else.
My recent blog Think Backwards will help you get started on understanding your customer so you can create better answers to “Why should I buy from you?”
So, this week, challenge the limiting belief that your customer only cares about finding the best price.
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