How to beat your competition (and become more profitable)
If you've done your homework in prospecting for new clients, you've found out what their crucial needs are: their pains or problems that your service can solve.
So why aren't they buying your service?
These expressed needs of prospective clients are often well-known by your competitors, as well.
So, as a result, in a competitive marketplace, often all service providers are providing the same or similar services to the same group of customers. The services become a commodity in the eyes of clients, and it often becomes increasingly difficult for the service provider to differentiate and compete without implementing price-cutting strategies.
Become more competitive - and profitable - by thinking ahead.
You have much greater chances of differentiating your services, and charging more for them, if you establish a "think ahead" approach in working with your clients.
Ask yourself these questions:
- "What problems are my customers having that they are unaware of, that my service can solve?" Push yourself to exceed customer expectations, not just satisfy their current needs.
- "If I were starting my business again now, what would I do differently? What services would I provide? What new clients would I go after?" You may discover new ways of approaching potential buyers, thus expanding your potential client base.
- "If I had to start over again, what services could I think about offering, that would make my current services obsolete?" This may be a bit mind-boggling, but the exercise of thinking outside the box on a regular basis gives you greater opportunity to become the leader in a competitive market.
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