Build Value Not Discount To Avoid Becoming A Commodity in Your Industry During Good or Bad Times
Build Value Not Discount To Avoid Becoming A Commodity in Your Industry During Good or Bad Times
The price of your products and services is directly tied to the value that your product or service provides your customers. Why would you even consider diminishing that value by discounting your price? Does this make good business sense?
Of course with many in sales still embracing a sales based marketing approach, discounting your price is part of that mentality. Within this approach, the traditional focus in on the benefits that your products or services deliver. Unfortunately, today’s market place where technology has dramatically raised the level of knowledge, benefits can be found on almost any website.
To add value means that you must educate your customer by providing knowledge he does not have. That knowledge is all about the results that you can and have delivered to your existing clients. In some cases, you may actually have to spend some of your own dollars to be able to demonstrate your value in real time. Provided you have done your homework and this person is a qualified potential customer you have a golden opportunity to earn a sale with far less strain on your resources of time, energy and dollars.
Sometimes you may have to add additional value to your products and services for your potential clients to commit to buying from you. This added value can have a nominal cost such as three monthly follow-ups. You may already engage in this behavior, but by front loading it as added value, your customer sees your commitment to her or him.
Sales Coaching Tip: When you discount your prices, you are truly discounting your value and putting yourself in the Sea of Sameness with all those other Gray Suits. To be that Red Jacket, you must know the actual results that would be considered valuable by your target market. Then your only challenge is to build a value bridge between your results and the desired results that your customers are seeking.
Build Value Not Discount To Avoid Becoming A Commodity in Your Industry During Good or Bad Times - To learn more about this author, visit Leanne Hoagland-Smith's Website.
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Many sales professionals to small business owners to C Level executives believe that by discounting their products or service during good or bad times that they can increase sales and maintain customer loyalty. However, what these folks are really doing is just the opposite because they have turned their products and services into a commodity.
The price of your products and services is directly tied to the value that your product or service provides your customers. Why would you even consider diminishing that value by discounting your price? Does this make good business sense?
Of course with many in sales still embracing a sales based marketing approach, discounting your price is part of that mentality. Within this approach, the traditional focus in on the benefits that your products or services deliver. Unfortunately, today’s market place where technology has dramatically raised the level of knowledge, benefits can be found on almost any website.
To add value means that you must educate your customer by providing knowledge he does not have. That knowledge is all about the results that you can and have delivered to your existing clients. In some cases, you may actually have to spend some of your own dollars to be able to demonstrate your value in real time. Provided you have done your homework and this person is a qualified potential customer you have a golden opportunity to earn a sale with far less strain on your resources of time, energy and dollars.
Sometimes you may have to add additional value to your products and services for your potential clients to commit to buying from you. This added value can have a nominal cost such as three monthly follow-ups. You may already engage in this behavior, but by front loading it as added value, your customer sees your commitment to her or him.
Sales Coaching Tip: When you discount your prices, you are truly discounting your value and putting yourself in the Sea of Sameness with all those other Gray Suits. To be that Red Jacket, you must know the actual results that would be considered valuable by your target market. Then your only challenge is to build a value bridge between your results and the desired results that your customers are seeking.
Build Value Not Discount To Avoid Becoming A Commodity in Your Industry During Good or Bad Times - To learn more about this author, visit Leanne Hoagland-Smith's Website.
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Dianne CramptonDianne Crampton is an executive leadership coach, team culture consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. Dianne's contribution to the 2010 Pfeiffer Consulting Journal (an imprint of John Wiley and Sons Publishers) entitled TIGERS Hearted Teams is available in November 2009. Her new book TIGERS Among Us: 5 Winning Business Team Cultures And Why, Three Creeks Publishing will release in March 2010. To receive publishing discounts, subscribe to the free TigerTracks Newsletter here. - Visit Dianne Crampton's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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