Not all customers behave the same way because they are motivated by different things.
- Focus largely or exclusively on the cost of the product or service, will want to get to discounts and prices very quickly.
- See the product as a commodity easily substituted by a competitor’s product or service.
- Want a favorable cost, either in terms of price, or ease of acquisition.
- See no value in your sales force (and might even resent the time sales people spend with them).
- Interested in solutions and applications.
- Put a premium on help and advice
- Build relationships with suppliers that go beyond the mere transaction.
- Want more investment of selling time to ensure that the potential solution is grounded in their business needs and issues.
- Demand an extraordinary level of value creation.
- Want to deeply leverage a supplier’s core competencies.
- Build a bi-directional relationship to create a level of value that neither would be capable of generating alone.
Where many Sales strategies go wrong is when they take Strategic or Value based messages to cost-orientated customers, who then complain about complexity and expensive ‘extras’ . Equally, taking a cut-down offering (to get the price right) to strategic customers will alienate them for the opposite reasons.
The current economic conditions will encourage many suppliers to embark upon a race to the bottom, cutting prices and slashing services. If you seek out and/or nurture your Value and Strategic customers you may be able to avoid the worst excesses of price driven business.If you would like to talk more about how SalesPathways can help with your customer strategies contact us.