Many business owners fall to the trap of offering the lowest price to influence their customer’s purchasing decision. But there is a cricual factor they do not realise. That is, now more than ever customers are buying from companies for more than just the product with a fair price. But also because that company offers the best solutions at a fair price. That is because your competition is selling on value, not just price.
Competing on price can include several strategies, such as discounting. And yes this strategy can give your sales a modest boost. However, reducing prices can have more devastating impact on your profit margins in the long-run.
SELLING ON VALUE
You know you need to add customer value to your product, but it may not be clear how to accomplish this. It comes down to finding ways to make your product irresistible to your potential clients. No, not irresistible in a forced way but in a way that ensures a buyer won’t think twice about purchasing because of your pricing. You need to convince the decision maker that what you are offering will add unique value to their business.
How will your product help a buyer achieve what they are looking for? Focus your sales strategy on selling on value. That means also including in your strategy messaging that sells an outcome and not simiply a service or a product.
Read on as we detail in this infographic why selling on value of your solution is far more advantageous for your business. And the benefit is lasting.