MAKE YOURSELF WORTH IT
Sometimes we find ourselves jumping to lower our prices to keep competitive. While this is good for short term sales, MBA President Gordon Neu, Neu Construction, Inc. disagrees that this method is effective for the long term sustainability of your business. "Part of the home building process is building a relationship with your customer," says Neu. "I often get over the hurdle of cost by explaining how my services differ from my competitors and listening to the customers’ needs." Recently, Neu had a customer make additional changes his products after pricing a kitchen remodel, resulting in a hefty increase on their bid. Instead of lowering his price, he asked the buyer to think it over for a night. Neu recalls, "The customer called me back the next day, and said 'you know, at first I was really upset. But after I calmed down, I thought to myself, is Gordon worth it?' I'm happy to report he is having me do three more projects on his home." Neu's advice to members would be to stick to your company's standards. You may lose a sale, but often times if a consumer's main focus is the price, they may be more difficult to work for than they are worth. When putting together a bid make sure the potential customer knows every step in your thought process, and definitely be upfront about costs! Make sure they understand your company's quality and craftsmanship is worth it!
Bottom Line: Make it "Extra Special" - Basic marketing boils down to what do you do that's different. What's your competive edge? Make everything you do something "extra special" and clients will take notice. Not only will they come back for more, they'll tell their friends.
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