What Motivates Buyers to Choose a More Expensive Supplier?
Buyers don’t choose on price
In my last blog I shared research that showed that buyers were choosing more expensive options if the buyer experience was right. This isn’t the only reason why buyers avoid the cheapest price on the table.
Today I will explore some more of these. But first, I want to mention a big error that many sellers make.
Prospects rarely choose a supplier because they have been told about the excellent quality and service
Those of you who have been reading my column for while know that I frequently rant on why selling on service and quality encourages buyers to choose on price. Nearly all printing companies sell on these aspects. If you do the same, then you sound like every other printing company. The buyer just chooses the cheapest option because they can’t see any difference in what they are being offered.
Don’t get me wrong, providing good service and quality are really important. The buyer expects them and will leave if they do not receive them. But service and quality are tools for customer retention, not customer acquisition.
Here are four ways to move a buyer away from price:
1. The environment
This is becoming more and more important. Many buyers will choose a sustainable print supplier. This may be because of their personal preferences. Or their organization may have an environmental policy that must be adhered to. Have a more compelling carbon reduction strategy and roadmap than the competition and you will pick up more business.
2. Adding value to your customer’s organization
Buyers do not buy print for the sake of it. They buy print because it spreads their message or brings them more customers or makes their customers spend more. How do your products and services improve the performance of your customers? Once you can answer this clearly you will be well ahead of the competition who still want to sell commodity print.
3. Make your buyers’ lives easier
If you can save a buyer time or make them more efficient, they will thank you. It can give you the edge, even if your prices are higher.
4. Reduce costs for your clients
This is not about reducing prices. It is about helping your clients to work more efficiently, save time and waste less. Can you take on some of the administration or buying tasks that their staff carry out? Will your just-in-time print prevent stock wastage and warehouse costs? Can a different product reduce packing times and costs? All of these solutions can save far more than reducing your prices by a few percent.
How do you create a sales message based on these principles?
Have a look for my articles on the TPD Principle. Or check out my book, "How To Stop Print Buyers Choosing On Price," where you learn my simple system on creating powerful sales messages that stop price wars. Find out more here: https://profitableprintrelationships.com/online-training-resources/how-to-stop-print-buyers-choosing-on-price/
PS Find out more ideas on how to engage with today’s buyers: download my free e-book “Ten Common Print Selling Errors and What To Do About Them” right now at http://profitableprintrelationships.com/e-book/ You’ll also receive my regular “Views from the print buyer” bulletin, full of ideas on how to sell print effectively
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- Business Management - Marketing/Sales
Many printing companies are frustrated how hard it is to engage buyers in today’s world. That’s where Matthew Parker can help. He is a gamekeeper turned poacher. Parker has bought print for more than 20 years and received over 1,400 print sales pitches. He now uses his buyer’s point of view to give practical advice to printers. He helps them engage with prospects and customers to create profitable relationships.
Download his free e-book, "Ten Common Print Selling Errors And What To Do About Them" and check out his recently launched book, "How To Succeed At Print Sales: Setting targets, planning the right activities and making sure goals are met."
