Sell Yourself… Not The Price Of Your Service Stacie Francombe, InspireSmartSuccess.com
Two gas stations are located right next to one another just a mile from your house. The first has unleaded gas (the grade you always buy) at $4.10 a gallon, the second is priced at $3.98 a gallon, which one do you choose? Simple, the cheapest.
That’s because gas is a commodity, and our perception as customers is that gas from one station is absolutely no different than that from another, both make our cars run right, so we buy entirely on price. Listen up, because this is important: when buyers see no difference, value or benefit between choosing one service/product over another, they will likely go with the best price.
If you have recently heard something like “Cathy Crumbs Cake Superstore, is $150.00 cheaper for the same cake, I’m going with them,” then it’s time to do some work, sell yourself not price, and stop losing business. How do you do this?
Well, first you must clearly understand what makes you DIFFERENT from your competitors, then you must be able to clearly COMMUNICATE that difference to your customers. This is your “Differentiating Value Proposition.” Remember, it is not enough to know what sets you apart, it is also essential that potential customers firmly grasp the VALUE you bring to the table versus what your competitor offers. Just to be clear, by value I don’t
mean price, we have already established you are losing business to cheaper services!
So how do you define value? Well, first ask yourself, what unique qualities or experiences do you have that clearly benefits your customers beyond cost. Once you have unlocked your
Proposition,” one tactic to consider during meetings with potential clients, is to convey a negative situation that may occur if YOUR service is not used. Couple that with positive situations that past customers have experienced when using your service, think testimonials, and you have painted a pretty compelling picture of your value way, way, beyond price. (Note: This is not an opportunity to finger point or belittle a competitor, it’s about promoting yourself positively.) When a customer has a clear understanding of your value, and what you offer beyond price, they will be far more willing to part with the extra $150.00 if they feel their event may be negatively impacted by not hiring you. Your service means success.
If you don’t know what sets you apart, then you are not selling yourself, you’re selling a commodity, you’re selling price, and the best price usually wins. So if you don’t like the idea of dropping your price and cutting your profits because of smaller margins, then get to work, sell your VALUE.
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