Price Really Doesn’t Matter
The Whale Hunters founder Barbara Weaver Smith interviews Anthony Iannarino, author of The Sales Blog, about how to avoid being commoditized.
The Whale Hunters founder Barbara Weaver Smith interviews Anthony Iannarino, author of The Sales Blog, about how to avoid being commoditized.
Anthony Iannarino on the topic of how to avoid commoditization.
Occasionally my sales fantasies turn into realities. When it happens, it’s so
easy to be seduced by this low-hanging fruit. Outwardly, I try to appear calm, cool and collected – a true professional. But inside, every inch of my body wants to scream out, “Take me! Take me!”
If your perspective is outbound on the customer, you need to change your viewpoint. See and understand the world from the client’s perspective, internalize what they know, observe, and live everyday and you will have potentially earned the right to express your opinion; or, offer your advice. If you have not earned the right, you are wasting everyone’s time.
Barbara Hauser explains that sales suffer when the company practices a culture of “See No Evil, Hear No Evil, Speak No Evil.”
But it frightens me how many small to midsize companies behave like ostriches when it comes to a serious evaluation of their social media strategy.
A lot of The Whale Hunters client companies believe they are playing in a totally price-driven market. They do not see any opportunities to compete other than on price. When they lose a deal, they assume they lost it on price.
The problems with that zero-sum game are that there are always limits to how low the market can drive prices (before vendors abandon the market) and that every vendor is vulnerable to price-cutting by any competitor at any time.
How you behave when you lose a sale reflects on the character of your business.
Tactics that seem to be customer-friendly can really backfire if you imply service that you don't intend to deliver.
Whale Hunting is a great strategy to grow your company fast. But even fast-growing companies make on average 80% of their revenue from existing clients. So it’s much more important to keep existing whales than to hunt for new ones. How do you find out if there is a high probability that existing whales will work with you next year, too?
When you combine expert facilitation with visual representations of the outcomes that were achieved in a collaborative manner, you have a living reminder of the work you accomplished together. And most important, you have a map that you can use to help the rest of your employees understand why it is important to change the way the company is doing something.
Each month we do our Expert Series call focused on growth and sales for small and medium sized businesses. This month, on July 20th at 12pm Eastern, we’re doing our free call with Compendium CEO, Chris Baggott .