Have you ever wondered why some people get plenty of customers even though their price is a bit high? And here you are, giving out the cheapest possible price just to get a customer in… just to get anybody in!
Let me tell you this, the greatest brands don’t compete for price.
Take Apple’s iPhone for example, it’s expensive but regular people would do anything just to get their hands on it.
Not only that, people will also buy their computer, laptops, whatever it is they’re selling.
You know why?
People know, like and trust them.
I’m going to share with you strategies that you can apply to any business in order to stop competing on price, and have prospects wanting to work with you.
1. Know What They Really Need
You can’t sell a product or service to a customer if they don’t really need it, or at least think that they need it. Your product or service should be molded around what your prospects need.
Think the way your customers think; see the way your customers see. Create your marketing in a way that will make them want or need the product or service that you offer.
You can’t do this just by telling them how awesome you are.
You need to connect with how they feel at the moment.
2. Don’t Wait for Them, Follow Up
After giving your customers your bid or quote, what do you do? Do you wait for them to call you or do you reach out to them yourself?
Not following up with your prospects makes them feel that you are doubtful of your product or service.
This doesn’t mean that you need to follow up every single day.
Some customers just need time and more support than others.
They might not need you now, but if you keep popping out every now and then, you’ll be the first one that will come to mind when the time that they need your service comes.
3. Reward Loyalty
How do you keep your current customers loyal to you?
We’ve seen big stores do it.
It’s like making your customers feel like there’s no other option but to purchase from you, because they know they’ll receive something good at the end.
They trusted you, so why not trust them in return?
You can’t sell your product or service if you just stay where you are and be quiet.
You need to have connections. Join conferences and conventions. Promote your company.
Other than telling people what you have, you’ll also get to learn something new from those you talk to.
There’s no need to be shy when you know you got the best product or service there is.
5. Give Giveaways
You can’t just offer your prospects your main product or service immediately. You have to lure them in first with something free!
Just like a baby, you can’t expect them to learn how to walk from day one.
They need to know how to crawl first, then stand on their feet, before they can actually walk.
It’s the same with your prospects. You have to guide them.
You’re not supposed to scare them away with something high-priced.
Give them something free, then ask them to purchase something for a very small amount, before asking them to purchase your main offer.
6. Deliver What You Promise
How would you feel if after purchasing a product or service, it turns out to be a dud?
You would feel betrayed and cheated, right?
Now you don’t want your customers to feel that way. Otherwise, you’ll receive a lot of negative feedback and you’ll have to fight for them to stay by giving them something else for free, or for a cheaper price, or worse… a refund.
Make sure that you deliver what you promise.
Don’t promise something you can’t deliver just for the sake of having a customer.
If you don’t have what they are looking for, at least offer them something else that you can do to ease away their problem.
7. Become the Best
If you’re the best in your industry, who wouldn’t want to work with you?
Remember what I told you about iPhones? They’re expensive but since they’re believed to be the best, everyone wants to have them.
So you see, it’s not really about the price. If what you offer is something worth it, then the customers will do whatever it takes just to have you.
You don’t have to worry about your competitors as long as you offer the best solution there is.
If you are the best, you will see your competitors come and try to copy you… for a cheaper price.
So make it happen.
Do the work and you’ll soon be finding yourself reaping the benefits that come with not competing on price. Better clients, better jobs, less stress, better margin and the better profits in your business.