If you own a business or run a large operating unit inside a business, have you ever given any thought as to how your clients make that all important decision as to whether or not they will buy your product or service? What is it EXACTLY that triggers their buy / don’t buy button? Is it really price that controls their decision, or are other factors involved? Leaders need to know the difference.
What you need to know…
Believe it or not, the price is actually one of your prospect’s last considerations. Human nature says that no matter who buys what you sell, they will always want “the best deal.” That doesn’t mean the lowest price, but it does mean they want the most “VALUE” for the price they pay. The perception that your product or service offers extraordinary value controls their final decision.
Why you need to know this…
The key is to create “extraordinary value” as it relates to what you sell. In fact, if you do this, you can even charge a much higher price. Providing the right perception of value justifies the higher price. Unfortunately, most business owners don’t have a clue how to create “extraordinary value,” and therefore don’t offer it to their prospects, costing themselves massive market share and a boatload of lost revenue.
To create value, a business must “innovate.” You must understand the things your clients want from your product or service. Then use innovative ideas and solutions to either remove the pain and frustration the customer normally experiences. What you offer should be the solution to eliminating that pain for your customer. Once the prospect associates what you sell with a benefit they receive from using it, then you have extreme value.
For example, the daycare mom who feels frustrated and worried when she drops off her child at daycare because she doesn’t know how the child is being cared for finds tremendous relief and peace of mind (extraordinary value) when the daycare installs Web Watch… a 24 camera surveillance system that allows parents to view their child online, anytime.
The cost to you if you fail to act…
If you fail to create “extraordinary value,” then you look like, feel like and smell like your competition. You will be forever doomed to compete with them on price, and when you’re forced to compete on price, you have just lost the battle. There will always be someone willing to undercut your price… ALWAYS!
By innovating your business, you begin to separate your business from your competition. You begin to eliminate your competition from the minds of your prospects… and you will have your prospects literally saying to themselves that “I would be an absolute fool if I bought this from anyone else.”
Innovation attracts your “ideal” clients to your business. These are the clients that will buy more from you at premium prices. They will spend more money and buy from you over longer periods of time. Your revenue and profits begin to skyrocket as you begin to add unprecedented market share.
Look for ways to “innovate” your business and do so in such a way that you create extraordinary value in the minds of your prospects.
It’s Not Natural
Finding these innovative ideas is hard. I get that. So that is why I have partnered with a great team who has spent years and millions of dollars developing a systematized approach to doing just that; finding innovative ways to promote your business. I call it “Finding the Edge.”
When you take a look at what we offer here, you will see a comprehensive library of tools and resources to put your business into another gear. It’s all done for you. There is pre-written marketing copy that has been used by others like yourself, in other markets to drive increased leads, higher sales price, and improve return/repeat business. Any one of those factors alone can make a big difference, but imagine what it could mean to your business is you just got two or more working at the same time. We’ve seen increases of 50%, 100% and even 200% profitability.
To take a Test Drive on our system visit Finding the Edge
Here’s to your success!
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