By Ryan Sauers We communicate a message in everything we do. The word brand is one that is used frequently in our conversations. We discuss brands we like and those that we do not. Why? All brands stand out in our mind for some reason (good or bad). Successful people and organizations are cognizant of this and work hard to develop their brand—through effective communications. This process includes building a recognizable brand name in the eye of the beholder. So, what does this mean to you? Think about our instant recognition of Nike’s “Just Do It “or Apple’s “there’s an…
You see this title and know it is true. You tell me this all over the country. You see, in 2014, sales is quite simple. It all comes down to who has the lowest price. If you get your pricing tight, then you have a chance of winning some business. If you cannot do this, then buyers will not consider you. It is all about price and maybe you feel like the people in this sales meeting. Are you feeling better about your sales now?
Not so fast, as there is something else I need to mention.
The goal was to get your attention as we have the focus of gold fish (about 8 seconds). Opens in a new window Friends, this “all about price” statement is absolutely and unequivocally false. If you are selling on price and this is what separates you from your competition—you should be concerned! Thus, you must immediately learn how to differentiate yourself in other ways.
You see, what it all comes down to is value. What is value? Value = Your price + Your company’s services/offerings + YOU that go above and beyond the norm. So, you ask, does price play a role in sales? You bet. However, it is just part of the value equation.
Someone has the ear of your prospect or client. Is it you? Someone is telling them your price is too high, so you will go away. It is true in some cases, a buyer is only concerned about bottom line price and nothing more. Note: move on from such prospects/customers.
Let me share one more thing with you. There are a number of companies that are making money and many who are not. The ones that are making money ARE NOT selling on price. In contrast, those who are barely sticking around oftentimes use their “low pricing” as the reason people should do business with them. This is not a good strategy.
My challenge is for you to take off your “price hat” and put on your “value one.”
So, let me ask you this. Why should someone buy from you over the competition? Can you list five compelling reasons that do not include price or quality?
OK, now I will finish just as LeBron did a few months back. It is time to go back to the basics as 2015 is coming soon. So, this is all I will say. It is time to come home and sell value.