More Selling Tips for Recession Conditions
“…in a recession ‘value’ takes on a different meaning in the eyes of the client,” writes sales consultant Paul Collins in a recent article for Rain Today. Collins presents eight tips to boost your business’s value during this rough economic time. While his tips cover topics such as pitching and pricing, Collins goes against the grain by suggesting businesses not compete based on price. The following is an except from his number-two tip, “Don’t Compete on Price”: “In a recession, if your service is the same as others, then only price will determine the selection outcome. Strong client relationships erode quickly in the face of a cheaper supplier! Stack the cards in your favor by being unique in a way that clients value. It could be that you are the only supplier that will guarantee results on a “no result-no fee” basis. It could be that you own IP that nobody else can access. It could be that you have referrals second to none. Whatever it is, make your offer unique and don’t compete on price.” This goes back to the opening statement that value can mean different things at different times, and in a down economy, dollar signs just may not equate to value for some clients. Can’t budge on price? Note that Collins stresses uniqueness, and by taking a new approach to selling or offering a different spin on services, you may help set your company apart from others that do have lower costs. For the other seven tips click here.