I believe that, in the current situation, in Western countries, all sectors have entered into a price war. This does not mean that we all have to fight to be the cheapest. We have to stay in a band of prices not much higher than the average. We have reached quality levels of products and services so top that quality is no longer a competitive advantage. It’s something that customers take for granted.
I have always believed that a company has to seek its increase in profit by rotation, that is, by the number of times they buy us, and not by the profit margin of each sale. Independent professionals who live from selling work hours have a problem with this. We always look for a cheap locksmith in Orlando, a cheap supermarket in Miami, a cheap hotel in Texas, etc.
We have to fight for our customers to buy us more than the others. Do we solve it with prices? If we go to a cheap locksmith in Orlando and get a quality price, it will be the best thing that can happen to us may be in the week. It is effortless to say and difficult to do so. It is one of the areas that we all work with our clients. How to make us buy more?
What you have to work on is finding a way to make customers spend their money on you and not on anything else they see in the market.
Keep in mind that our competition is anything in which the customer, whether consumer or company, will spend their money and no money left to buy from us. This concept in final consumers is more evident. We all have a monthly income, and we cannot spend more. Once we run out of money, we no longer buy more.
What we have to do is get our products and/or services positioned higher on that customer’s shopping list. The same goes for companies. If you sell your products or services to companies, you have to bear in mind that we all offer the same final benefit: Increase the income statement.
In the highly competitive business world in which we live, in which there are several suppliers for the same service, we get our customers for the affinity they have with us. There are times that, although rationally everything seems correct, something inside tells us that it is not the right choice. Our feeling is that we have to reject it. On the contrary, the same thing happens. Have you ever made a decision against all the rational signals that there were?
This is because we are emotional animals, not rational as they would have us believe. We have to guide our commercial message (we are companies, all our words are aimed at selling, directly or indirectly) towards the emotions of our customers.
Falling in love with customers
Falling in love with your clients is one of the ideas I propose. You just have to find the reason why people do things, and customers will line up at your door. Another idea that you can work to increase the times is that your company does the client’s first job.
I give you a real example of this. An education center that needs new tables for the computer classroom. Receive a cheaper budget with tables and chairs of the same quality as another budget somewhat more expensive. Which one did you choose? You have already guessed that the highest price. Because after installing the new tables and chairs they needed an electrician to do the wiring installation. The cheapest did not solve this. Those of higher price contacted an electrician to give a complete service to the client (with the corresponding increase in budget, of course).
One more idea: Let your customers see and know that your company cares about giving an excellent service or having fantastic products. When you worry, it shows. We like customers to care about us. We like to feel that they really want to help us, of course in exchange for money. We have different hopes that we want to cover. We usually cannot do it alone, and we need other companies to achieve it.