Episode 073 Learn how your mattress may hold the secret to your sales!

Lisa Thal is an Author, Speaker, and Business Coach.  She wrote the book "Three Word Meetings."  A Simple Strategy to Engage, Inspire, and Empower Your Team.  Lisa coaches leaders on how to take their sales and business meetings to the next level with fun and interesting 3-word  topics to get your sales team motivated and inspired.  She has over 33 years of marketing and leadership experience.

 

Episode 073: Learn how buying a mattress improved how I provide Value vs. Price to my clients.

Do you have clients that want your product based on Price? Don't you hate that? Just think back to the last time you made a purchase, and what was going through your head? "Can I buy this for less? What type of deal can I get before buying this? Let's face it; no one wants to pay more for a product! We need to perceive we got a good deal or Value from purchasing a product or service.  

Price is often the primary consideration when customers make a purchase, but cutting the Price isn't the best way to compete. We have to find ways to make our partnership more valuable than just Price.

 

Here are four strategies you can implement:

 

Become an Expert

When your clients feel you have the knowledge and expertise, they are more likely to do business with you. You have to offer them better advice than the other vendor; you add more Value. This increases your chances of winning and retaining their business. Clients will pay for speed to market. How can they grow their market share faster? Dave was an expert when it came to mattresses. He shared his story of buying his brand—the benefits to better night sleep. Think about yourself. Are you an expert in your industry? What other education or skills do you need to be a solution provider to your customers. The best investment you can make is in yourself! You and the client will benefit from it.

 

Think like your client

 We all have family, friends, and co-workers that you connect with better than others. Why? One reason is that you feel like they understand you. Dave was masterful at making me feel like he understood my mattress needs. He asked, are you a side or back sleeper. He shared his stories of mattress shopping and the decisions we should consider when making ours. Well, the same applies to your clients. Do you know what each of your clients needs? Understand that they all may have different needs. Some clients may need sales and revenue; some may need better marketing; some may need help recruiting employees; some may need better systems to run their company more efficiently and some tactical ideas to grow market share and profits. If your approach it the right way, ask great questions; they will tell you everything. Once you know, and they start to feel that you know as well. Listen, take notes, and provide solutions as if you owned the business. Your actions will speak louder than words, and your Value will increase massively. 

 

Two ears and one mouth

One of the best lessons I learned from Michelle Levine was two ears and one mouth. Make sure you listen twice as long as you speak. Do this, and you will increase your Value with your clients. Most people are thinking of how they will respond when the client is talking. Please slow down and listen to what they are sharing. Dave would ask us questions about what we desired in a mattress, and then he would listen. We felt heard, and that built more Value.

 

Surprise and delight

It's great when someone surprises you with something you didn't expect. We spend much time trying to winning the business. So when you do, you want to retain that client for life. Clients want your knowledge, a fair price, and expect great follow up. Their needs vs. ours! Any company can set up an automated mailer for when it's their birthday. ( Do you even know your client's birthday, step one). How would you feel receiving a personalized message or a handwritten birthday note with a cake and balloons! When we do something out of the ordinary, your Value increases, and remember: with Value comes loyalty.

 

People will pay more for something if they think there is Value or benefits. I know I paid more for a mattress than I expected, and I was happy to do so. 

Remember, Adding more Value will always be the difference to earning and retaining your client's business. 

Keep looking for ways to do more for your clients to ensure they value you and the solutions you provide!

 

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