As
mentioned in parts 1 and 2 of this series, you simply cannot "wow" the customer
by beating the competition's best price.
Yes, you must remain cost competitive and cost appropriate without being
cost offensive and there are ways of doing this. Simply understand what customers want and
expect from you as their supplier.
Whether it is a one time sale or an ongoing relationship, you MUST provide them with a buying
experience that not only meets but exceeds ALL of their expectations. In doing this you
will guarantee yourself and your organization stability, long term success and oh
yes...........higher margins.
Here
are some more of the proven methods of establishing that ideal relationship
where pricing truly does become secondary.
#1 - Keep it
simple, easy and efficient (click here to review Part 1)
#2 - Cost
appropriate pricing conducive to the level of service and quality of products
offered (click here to review Part 2)
#3 - Depth of products (click here to
review Part 2)
#4 - Advance
notification of problems and prompt resolution
Problems
will happen and customers fully expect them to.
They also expect to be notified in a timely fashion to allow them to
make alternative arrangements where necessary.
Forward thinking customers and true business partners (those that do not
buy solely on price) understand that problems will arise. There is a staggering statistic that states,
approximately 70% of customers change suppliers because they felt that they
were treated rudely, indifferently or that the supplier did not care about
their business. Conversely, 95% of
customers will buy from you again if provide them with resolution quickly. When stuff happens, address and solve the
problem quickly, that's all a good customer will ask.
#5 - A Source of
Information
When
you approach your prospect or customer, they could react in several different
ways. They could say "oh no, here he
comes again....hide" in which case, they believe you are going to waste their
time and they are at that point, probably inclined to price shop and/or waste
your time. Or.......they could say "hey here
comes Tom, he‘s likely got a new idea for us today". Obviously, the latter is the preferred response. Always strive to achieve the level of
confidence in your customer where they believe that you truly add value to the
relationship. They should believe that
it is genuinely a good use of their time to meet with you and that you can show
them ways to make or save money.
Customers
look to their suppliers for information such as:
- New product information and applications
- New market innovations
- Industry trends
- Competitive updates
- Advance notice of product shortages
- Market volatility and price fluctuations
If
and when you have reached the level in a relationship where customers see you
as a value to their business and more than just another supplier, they will pay
more for your product or service.
#6 - Consistency
Do
what you say you will do and be consistent in your daily routines and
commitments. Everything you do should be
consistent with your promises. If you
agree to call your customer back with information, do it. If you agree to return next week with a
sample of a product, do it. If you promise the customer that you will be there
for them at a specific time every week, do it.
Integrity is established in a relationship by doing what you say you
will do. Customers will begin to trust
you and know that they can rely on you to follow through on your
commitments. It is a foolish customer
that will change suppliers for a few dollars when they know you are consistent
with your promises.
Remember,
by providing a level of service that not only meets but exceeds customer
expectations, you achieve a level of differentiation that actually entices the
customer to pay more for your product or service....if you ask for it. Imagine,
a margin increase simply by giving the customer what they want.........and
expect.
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links below:
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