One way to beat your competition is to charge less for a
similar product or service. But you can also beat your
competition when your price is higher. One of the best ways
to avoid price competition is to become a specialist in a
narrowly defined targeted market.
RELATING IS MORE IMPORTANT THEN PRICING
I recently spoke with the creator of a marketing program for
new business owners. He could have confronted the
established competition and competed with a lower price.
Instead he decided to target prospects in 2 types of
businesses he had worked with before -- insurance sales and
MLM marketing. He knew a lot about the operation of each
business and the people who worked in them.
He created a separate web site for each type of business and
customized the content to appeal specifically to prospects
in that business. The site for insurance sales people looked
the same as the site for MLM marketers. But the content was
totally different.
His plan worked. Sales are running almost 50 percent ahead
of projection ...even with a price that's 15 percent higher
than similar programs. He built a successful business in a
highly competitive market by becoming a specialist.
CUSTOMERS LIKE TO BUY FROM A SPECIALIST
People like to do business with a specialist who has a
unique insight into their situation. They feel confident
about getting what they expect from a product or service
when it is proposed by somebody who understands them and
their unique needs.
Most customers or clients will even pay a little more to buy
from somebody who thinks like them. It's worth it to avoid
the risk of being disappointed because they bought from
somebody who didn't know anything about their special
situation.
YOU'LL SELL MORE AS A SPECIALIST
Targeting a niche market enables you to design your sales
messages with great precision. You can cater to specifically
defined interests of prospects and communicate with them in
their own style. More people will buy when they feel you are
talking directly to them about their individual needs.
SPECIAL BENEFIT: When you deliver results as a specialist
you also establish yourself as an expert in your field.
Customers will automatically refer other prospects to you.
They value what you did for them and they're confident you
can deliver the same results for others.
3 SIMPLE STEPS TO BECOMING A SPECIALIST
Becoming a specialist is easier than you may think. You can
accomplish it in 3 simple steps:
1. Divide your primary market into several narrowly defined
markets.
2. Take each market, one at a time, and learn everything you
can about the prospects in it.
3. Revise your marketing approach and selling materials to
appeal to the specific needs of prospects in each new
market. Use their own unique language and style of
communication.
TIP: Existing customers who match the profile of prospects
in a market you've targeted can help you develop your sales
approach for that market. Contact some of them and ask why
they bought your product or service. What do they like best
about it? Why did they choose you instead of a competitor?
They'll give you a lot of information you can use to develop
your appeal to other prospects who are like them.
You'll always have competitors. But you don't have to lower
your price to compete with them. InsteadComputer Technology Articles, become a
specialist and cater to prospects in a narrowly defined
targeted market. Your understanding and insight into their
unique situation will establish you as the expert in your
field. They'll want to do business with YOU even if you
don't offer the lowest price.
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ABOUT THE AUTHOR
Bob Leduc retired from a 30 year career of recruiting sales
personnel and developing sales leads. For more information...
mailto:
[email protected]. Phone: (702) 658-1707 (After 10 AM Pacific time)
Or write: Bob Leduc, PO Box 33628, Las Vegas, NV 89133
