COMPETITION WITHOUT CUTTING YOUR PRICE
Copyright 2001 By Bob Leduc
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
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
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
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
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
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. Instead, 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.
Bob Leduc retired from a 30 year career of recruiting sales
personnel and developing sales leads. He is now a Sales Consultant.
Bob recently wrote a manual for small business owners titled "How to
Build Your Small Business Fast With Simple Postcards" and several
other publications to help small businesses grow and prosper. For
Phone: (702) 658-1707 (After 10 AM Pacific time)
Or write: Bob Leduc, PO Box 33628, Las Vegas, NV 89133