You will always command a higher price if your product is better than your competitor’s product.
The first step to becoming better is being different. This is easy to say and hard to do.
If you believe any of your products are commodities you probably don’t understand the last sentence.
Products don’t turn themselves into commodities – salespeople do it.
If you truly believe in the concept of differentiation – there are simply no commodities on this planet.
You have it all wrong if you believe your customers buy your products because they believe your products are unique in some ways.
What really happens is your customers and prospects are attracted to your products because you (The seller) believe your products are unique.
It starts and ends with you. Never forget that.
During my corporate sales training programs and the annual Boot Camps I do – I always make a point of saying this, “If I were selling single ply toilet tissue, I could differentiate mine from the competition.”
Well glory be, I’m in Park City Utah last year doing a sales training assignment at a combo ski/golf resort. And what do I see sitting on a shelf in the bathroom – a roll of toilet tissue.
Not an ordinary roll mind you, a differentiated roll of single ply toilet tissue. It was wrapped in dark brown paper and had the words “Emergency Backup” prominently displayed.
All tissue paper is wrapped, but the paper in my room was wrapped in differentiation and no doubt presented to the buyer as a better alternative to his current product.
Your product just needs to be a little different to be considered better.
The list of what can be differentiated is endless. Since we both have time for what’s endless – here’s a short list to get you headed in the right direction:
You can differentiate . . . how you make appointments.
You can differentiate . . . how you confirm appointments.
You can differentiate . . . how you begin a sales call.
You can differentiate . . . how you end a sales call.
You can differentiate . . . how you ask sales questions.
You can differentiate . . . how you present your products.
You can differentiate . . . how you package your proposals.
You can differentiate . . . how you show your appreciation to your customers.
You can differentiate . . . how you acquire and apply new sales skills.
You can differentiate . . . everything about you, your products, and your company.
And if you don’t get this concept – you’re doomed to sell on price.
Logically, when someone is comparing your price, it’s usually a good indication they don’t see any other comparisons. Everything looks similar – so we may as well talk about price.
And by now you realize – the more you talk about price the lower it gets.
Offer your prospects and customers more and they’ll gladly pay more. It’s been said and I don’t recall who said it, “Profitability is the applause of a happy customer.”
If profitability is the applause of a happy customer you should be raising your prices, especially if your customers are happy.