If You Compete on Price Someone Will Always Beat Your Price. But If You Deliver Insights to Prospects They Are Much More Likely to Buy.
Imagine the scene. You get called in to meet an employer. You check out their need and seem to get along really well with them. Away you go, you write a proposal and quickly send it off. Then nothing happens. The silence is deafening.
Why don’t they come back? Why don’t they jump at the chance to work with you?
Let’s face it this, or something similar, has happened to all of us at some time.
If you eventually get to speak to them they explain that a new big project has come up, that they are just waiting for the new website to be launched / new manager to start / the new moon to rise/gone with another provider. … I guess we’ve all heard 1001 different reasons why they don’t want to go forward at that time.
If they went to another provider because of your price you lost a piece of business that could have been won .. at your price .. if you’d have provided insights.
Finding Prospects is hard enough without making it harder.
The Real Reason Isn’t Price … It’s About How You Deliver Insights to Justify your Price
The real reason you lost the project was quite likely that you focused on price and didn’t provide any insights. Or you didn’t bring new insights.
Let me explain how to remedy this.
The problem is that often the client doesn’t really know what they want .. except in basic terms such as more sales. So if everyone just says we can get you more sales the client is left with just the price as the differentiator between you and everyone else that pitches for the work. And often the lowest bid wins the work.
But you could win this work even if you quoted a much higher price. And it isn’t down to showing testimonials or similar .. everyone tries that one and no one wins because of it.
So let’s say you are quoting for a commodity course such as First Aid training. What insights could you bring?
On the face of it, this is a simple price based course transaction. But what if you ask the company about recent accidents or how sickness is impacting absenteeism? You could mention other clients that have bought First Aid training and have also used your free/paid for review of lifting practices, or forklift driving practices that have resulted in fewer accidents and absenteeism due to bad backs.
By doing this you’ve brought some insights into why people take time off.
Let’s face it no one really wants to buy First Aid training .. they have to do it to comply with legislation What they really want is to reduce sickness and absenteeism. And your questions and offer have brought insight into their problems. They are now likely to buy their First Aid training and use you to undertake some reviews of working practices.
The above is a very simple example based on a simple course request. In many cases, the quotes requested might be far more complex. But by asking questions that you know address issues the sector is facing you can bring insights. And insights win trust and contracts. People prefer to buy from those that understand the issues and can help them.
What Type of Questions Deliver Insights?
Basically, you need to dig deep. This isn’t just about asking how many people they want to be trained or even why they want to train them.
What you are trying to do is to examine their deeper needs and to consider different or additional needs. You’ve got to get them to change their minds about their needs or the solutions they want.
In reality what you are doing is to identify and/or highlight issues they hadn’t given much thought to. For example, they may know people take time off with bad backs .. but never have thought it was down to poor manual handling or could be remedied.
By suggesting the lifting practices review you’ve identified an issue they hadn’t considered in depth .. and by talking about how additional training had reduced bad backs and absenteeism elsewhere you have given them a solution to a problem they hadn’t identified as such.
By giving these insights you both differentiate yourself and add value.
This makes you stand out. Where everyone else is saying here’s a price, you’ve shown them that First Aid training only satisfies their legislation need but doesn’t solve the real problems ie bad backs and absenteeism.
Is this a simple solution?
NO. If it were simple everyone would be doing it. It requires you to understand the sector’s issues, to dig a bit deeper, to ask probing questions. It takes time .. but when you give it time you win far more quotes than when you just email them a price!
To learn more about how to Deliver Insights & how to beat underfunding visit our sister website, www.ProviderMasterMind.com