If your first approach to winning new business is to cut your prices you are well on the road to not only losing valuable profits and credibility you will risk seriously eroding your brand and its values. So why do it?

In previous posts we discuss differentiation and making your company and brand stand out from the competition. Easier said than done I hear you say. However, if you do take the time to create a clear and differentiated proposition your prospective customers will see straight away that you are match for what they are looking for and are therefore less likely to compare you on price.

We appreciate that there will be times where  you will have to negotiate terms but ideally your first engagement with a prospective new client should not be about how much you charge or how much your products or services cost. We suggest you do the following to attract customers that are looking for the value you can deliver rather than the pounds they can save.

Know what your customers and prospects want

Know your market place and understand why your customers are buying from you. Remember to ask them now and then and not always assume you know what they want.

Know your competition

Look for those companies offering a similar service or product offering to yours. What are they doing differently or the same? Learn why they are winning new business and why you are losing out on your sales pitches against them.

Know your market

Keep abreast of changes taking place in the market place. Adapt and evolve to the changes that will affect you and your customers. Regularly update your customers of what’s happening too.

Know your stuff

Demonstrate your knowledge by becoming an expert. Participate in trade events, expert panels in trade and relevant business publications. Win awards for doing things differently and better. Then communicate this knowledge to your customers and prospects. Reassure them constantly that their business is safe in your hands.

Exigent Marketing. Specialising in marketing, branding and creative design solutions for SME companies based in Twickenham working with business to business clients in West London, Chiswick, Twickenha, & Teddington as well as technology clients in Reading and Berkshire area. www.exigentmarketing.co.uk