Business Articles - Sales

How to Beat Your Competition

In this industry, having the lowest price brings a tremendous amount of headaches and frustrations. Beating your competition by lowering your prices is one way to go broke quickly. But you can beat your competition, get the job even, when your price is higher. How can you do this? One method is to establish your business as the specialist in a narrowly defined targeted market.

People like to buy from someone they perceive as a specialist. Their confidence level rises far higher when they feel that you understand their unique needs.

Most will even pay a little more than they expected when they feel that you're there to service their needs. It's worth the extra investment rather than being disappointed from doing business with someone who didn't know anything about their needs.

You'll Sell More as a Specialist
A targeted niche market allows you to design your sales messages with laser accuracy. It allows you to cater to them in the format and language they expect to be approached with. More people will buy your services if you are talking directly to them and their needs.

Being able to deliver the results they are looking for enables you to become the expert in your field. Everyone who does business with you will spearhead this message to others, thereby increasing referrals. They do this because they value the service you gave them. And since they are most likely to know others who have the same needs as they had, this works to your advantage.

Three Steps to Establishing Yourself As the Expert
Establishing yourself as the expert can be extremely easy, especially if your competition has failed to utilize this powerful marketing strategy. You can accomplish this by following these simple steps:

1. Find out which work is best for your business. This is accomplished by utilizing the Job Characteristic Report. Define the markets that support the work you do best.

2. Learn everything you can about the markets, the prospects, and your competition in those narrowly defined markets. Leave no stone unturned.

3. Develop your new marketing approach to appeal to the needs of the prospects, and to state the unique difference they will receive from you, not the competition, if they elect to do business with you. Make sure that you speak and communicate in their language or level. Don't be afraid to proclaim yourself the expert, especially if your competition hasn't.

Strategic Tip: Existing customers who have already purchased from you and fit the profile of the prospects you've targeted can be very useful in helping you develop your marketing and selling approach. Don't be afraid to contact them and ask why they bought from you. What did they like best about doing business with you? Why did they chose you over the competition? These are powerful questions and should be a part of your research method with your existing customers. Remember, this information will help you develop better promotional and selling approaches.<.p>

Since You'll Always Have Competition, Why Worry?
Let's face the facts. You'll always have competition. But why lower your prices if you don't have to? Instead, consider becoming a specialist or expert in your field in a highly targeted but narrowly defined market. Your research will give you the understanding and insight into providing the right services for their unique situations. This will establish you as the specialist or expert that they want to do business with, even if you don't always offer the lowest prices.

Henry Goudreau, C.S.L.
HG & Associates, Inc
"We turn contractors who dream of a successful business, into business managers who make a business successful!"

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