Offer the best solution, not the lowest price
If your offer is based only on price, there is a good chance that someone else will have a lower price than you; and you are prone to becoming involved in a bidding war that distracts from solutions. To avoid that, base your proposal on achieving more goals for your prospects, instead of just saving them money. By doing this you will set yourself apart from the rest of the salespeople who base their offers on price alone.
Anyone can step up to the plate with a lower price. But not everyone can attend to their customer’s needs and specialize in assisting them effectively. If you are able to adequately identify your customer’s business requirements and provide the best solution at a fair price, then you have a winning formula.
There will be clients who will only be drawn to the lowest price. Those will be buyers that have little or no requirement for personal attention. Or, if they do, they haven’t realized it yet! Once a customer has been exposed to your expertise and your understanding of their requirements, you’re most likely to have formed a long-term bond with them. If your customer can come to trust your judgment and ability, you will have a customer for life!
Selling the best solution is not about having the lowest price. The best solution entails having a solid understanding of your client’s business and its needs. It entails sourcing and providing the best possible outcome that addresses those needs – at a fair and mutually-agreeable rate. Knowledge is the key to sales success! Anyone can sell something cheap, but not everyone can create an effective solution that actually benefits the customer and his business processes.
When a bidding war begins, the participants often lose sight of the end goal. The end goal is finding the best solution for the customer (at a fair price, of course!). Never get involved in a bidding war. You can be prepared to side-step that scenario by presenting a detailed and holistic solution that is well-researched. Show your client that he will get more out of taking your deal (even if your price is not the lowest) because of your knowledge and expertise that is specific to his requirements. If you’ve done your homework you’ll be able to produce the goods and present the winning solution.
To ensure your success in the sales arena, remember that knowledge is power. Knowing all that you can about your customer before presenting him with a winning solution, means that you’re a step ahead of those who are cold-calling and selling blindly. Walk the sales walk confidently. Gather your knowledge; conduct research; and sell effective solutions.