I read in a newsletter recently: ‘someone has to be the most expensive, so it may as well be you. But if you’re going to be the most expensive you have to be the best.’
This resonated with me as I see many a business having the strategy of being the cheapest and really struggling.
Being the best covers a lot of ground. Here are 6 key steps:
- The shift has to start internally – if you have a cheap mindset you need to replace that with a quality mindset. Nothing will happen if you don’t make this internal shift.
- Be absolutely aware of what your competitors are offering and work out how you can make your offer not just a little better but extraordinarily better.
- Leverage your past successes, years in operation, number of clients, types of clients, amount sold, awards – anything that adds to your credibility (maybe even write a book…).
- Become great at selling yourself – and make sure that your team are great at selling. Sell with confidence, sell with pride and don’t be afraid of pointing out why you are more expensive than your competitors.
- Be generous with your customers – exceed their expectations at every turn.
- Make it personal – do the follow up phone calls, give gifts, remember names, treat valued customers as the important people they are.
Now a word of warning here, you can’t just start charging more and expect your existing customers to pay if nothing changes. You have to keep coming back to the term “be the best”. As you proceed you will lose customers, but don’t worry, these are the ones with a “cheap mindset” that you need to lose.
Email Ken – Ken@Engage4Results.com – for a free chapter on WOWing the customer from his Award Winning Book, “The People Pill”.