www.essential-marketing.com

Wish you had an inside view on the latest marketing issues?

Now you can with Essential Guide, the marketing information service from Essential Marketing.

Essential Marketing is a talented and dedicated team of marketers, sales professionals, creative thinkers, designers, web programmers and project managers, each with over 10 year’s relevant experience in their field. Each month, we cover two new topics and share our knowledge on these through Essential Guide. We hope you find our guide useful and if you’d like to see a particular topic covered, please let us know.

Are you bothered by something in marketing? Click here.

Uncover your value

Being in business is tough and it’s commonplace for businesses to buckle under the constant pressure to negotiate on price. But there are businesses out there that don’t concede and sell products or services at the higher end of the market—and do very well from it.

So how can the ‘bun fight’ on price be avoided? The key is not to sell on price, but to sell on value.

Selling on price is one-dimensional; it’s your price against your competitors’ and the cheapest wins. Selling on value is multi-dimensional; it requires identifying the value that is sought by customers in the market place and tailoring your communications to address this. Sound easy?

The truth is, selling on value is challenging for three reasons:

  1. Value is in the eye of the buyer, not the seller

    We see it time and again. Businesses tend to be inward-facing, making assumptions about what customers are looking for, without taking time to look outwards at the market. Don’t get caught out by thinking that what you are providing, at the price you are selling, will be considered ‘value’ by the customer. Take time to understand your market, understand the value that customers are seeking and define your value proposition based on your findings.

  2. Value is a prerequisite. What buyers really want is VALUE-ADDED.

    Buyers automatically assume that what they are going to pay for something will be a ‘fair equivalent’ for what they will receive. Therefore, what they are really looking for is good value. This means looking for additional things you can offer which can add exclusive, yet relevant, value within the price.

  3. Value is hidden.

    Once you’ve identified value which is both relevant and exclusive, the key is to communicate this clearly to the customer, so they understand exactly what they are paying for. Yet clear communication is where many businesses fail to deliver. Value is often hidden in bad or over-complicated communications. At the end of the day, if a prospect doesn’t understand what they are paying for, then why should they choose you?

Getting this right can propel a business forward with fantastic effect. If you’re interested in knowing more, then give us a call on 0117 907 9930. We’re experts in uncovering the value in businesses and communicating that value in a way which is compelling to the chosen markets.

Return to top