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How to Overcome Profit-Sapping Sameness

You are here: Home / Uncategorized / How to Overcome Profit-Sapping Sameness

October 31, 2017 By Ian Edwards

We strive to differentiate our businesses. Looking for that edge that makes us stand out from our competitors. If we fail to do so and we look the same as everyone else.

Sameness costs money, makes the salespersons job much harder and customer retention harder still.

Sameness shows you’re happy for your competitors and customers to control the price you charge. You win on price and speed of delivery alone, sapping profits today and holding back future investment. You readily accept that customers go elsewhere for the same reasons they came to you in the first place.

Avoid the slog

Do you enjoy the slog that comes with trying to make the number each month? Manufacturing deals by offering even more discount to entice customers to buy. . . . and then feeling pressured to offer extra discounts for every further order they place with you against their threat to take their business elsewhere.

It costs your customer the best service. It costs you your mojo and your happiness. Your family suffer too. Not much fun for those you love when you arrive home grumpy after yet another miserable day in work.

Is this really the life you crave? Because it needn’t be this hard.

Choose to Stand Out

Most businesses can stand out from their competitors. It’s just that so many choose not to invest the time to discover and promote their difference. Instead, they prioritise hitting the number today at the expense of future profits.

Surely you prefer prospects and customers to come to you because of the value you deliver. Value that delivers measurable results to them in ways that differentiate your business.

Achieve this and you stack the odds in your favour. The odds each sale will be more profitable. The odds you will increase the lifetime value of each customers. The odds you become the preferential supplier.

You’ll definitely have more fun selling on value, and arrive home with a smile on your face after work.

Do it the Easy Way

Ask your customers why they choose your company and you, why you are different from other options and how your service helps them do their job better.

Then listen to what they say. Let them say it as they see it without interruption.

Given the opportunity, customers readily share what they value about your company, employees, service and products. The information they provide is marketing and sales gold. Not always what you expect or want to hear but accurate.

Include these words in your marketing and sales presentations and you clearly demonstrate the value you deliver. More prospects will become customers and customers will stay longer. Without the need for you to beat or match the lowest price.

 

This article is a version of a post that first appeared on the Maximizer blog.

Filed Under: Uncategorized

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