A few years ago, a high technology vendor surveyed 400 sales reps, asking what was the most important factor in winning a deal. Overwhelmingly, the answer from the salespeople was "price".
At the same time, the company surveyed 400 clients and potential clients, asking the same question. Their number one answer: "reliability". In fact, price ranked only sixth on the list.
The high-tech company's proposals, of course, were focusing primarily on price. Even though the vendor had a great story to tell on their reliability, with several important differentiators which clearly set them apart in the industry, the most important factor in client decision making wasn't highlighted.
In a competitive market, it can be very difficult not to feel that price is the most important factor. (And, sometimes, price is very important). But don't ever just assume that price is what matters most.
The best way around the "price trap" is to clearly determine what differentiates you from your competitors - and then offer an alternative vision.
|
