Jim Logan

The key to reducing price in the hierarchy of purchase decisions PDF Print E-mail
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Written by Jim Logan   
Monday, 05 May 2008 07:32
Surfing the NET, I came across an interesting site that allows consultants to register their services in a free directory. The site has nothing to do with the point of this post, but it's where I found this:

  • Taking a proactive approach to finding the best possible funding source to meet your needs.
  • Ensuring you have access to the capital you desire under the best rates and terms possible.
  • Maintaining the confidentiality of each client
  • Providing reliable, dependable service
  • Working to earn your trust
  • Achieving results!


What's so interesting about that? Nothing. And that's the point of this post.

I found those bullets within a profile. It's the answer given to the question What's unique about your service?

What's unique about you, your offering, and company are critical to earning a prospect's business. It's the reason your prospect should do business with you as opposed to your competition.

If what makes you unique are the things we all expect and claim to deliver, then there's nothing unique about you and I have no reason to do business with you. Other than price. Which means you're a commodity.

A benefit has to exist and be valued by your prospect to create a sales opportunity. And something meaningfully different about your offer must exist to make a competitive sale. Otherwise, your prospect will base their decision more on price. In other words, if two or more vendors offer the same solution - the same as far your prospect is concerned - your prospect will more often that not make their purchase decision based on price....unless you offer them a compelling reason they value that steers the purchase decision in your direction.

The key to reducing price in the hierarchy of purchase decisions is offering meaningful difference in you, your company, and the product and services you offer.

What do you think?

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