Here is a fact for you:
You need to be better than each of your competitors in at least three ways if you want to survive.
This does not mean your products or services need to be cheaper.
But . . . what happens if a competitor undercuts you and offers your customer a lower price on the same product?
True story:
It happens to the best of sales people, just the way it happened to Jennifer.
She made the telephone call, scheduled the appointment and everything seemed to go well.
She wrote a thank-you note after the first appointment and then made a follow-up telephone call to the client.
The client wanted a demo. The demo was a success.
The client asked for a proposal.
Wow!
Time to celebrate.
But then something unexpected happened.
After all of Jennifer’s hard work, the prospect took her proposal to a competitor and was able to get a better price.
The client bought from the competitor.
Ouch. That really hurt.
What happened?
How could this have been prevented?
Three Ways to Avoid Being Undercut by a Competitor
- Begin at the very beginning of the relationship to build true customer loyalty.
And simple efforts can make all the difference—world-class customer service, for example, will entice many customers to pay your price.
Thoughtfulness, like sending holiday cards and/or gifts will cause your customers to feel that you really care instead of feeling that you just want to make a sale.
Keep in touch with customers and prospects using . . .direct mail. Yes; you read that right.
Today with millions of emails flying back and forth, receiving an actual letter by postal mail from a company you have done business with is impressive.
Click here to get 63 effective pre-written business and marketing letters you can copy and paste so you can easily keep in touch.
Building customer loyalty is not about being perfect but being authentic and keeping in touch.
And I promise you this:
Your clients will love you when you use these 4 words that show you are thinking of them.
2. Find ways to differentiate yourself. Add value to your products and services.
Customer-perceived value is the difference between a prospective customer’s evaluation of the benefits and costs of your product when compared with others.
- Use your Unique Sales Proposition (USP). It is the thing that makes your business different from anything else out there – the reason customers will buy from you and not from your competitors. Identify and plan at least three clear USPs that define exactly what you offer that your competitors don’t provide.
USPs must be true to your business vision – and, in turn, everything your business does sticks to your USPs. Clients can relate to your product, the way you deliver your service or the way you run your business. Do market research to make sure your USPs are unique.
Stay in touch with prospects and customers using direct mail (real letters) and you will begin seeing an increase in customer loyalty.
Click here to get 63 effective business and marketing letters you can copy and paste – and use as emails – so you can easily stay in touch with prospects and customers.
