We’re working with a number of clients who operate in highly competitive markets. When doing competitive research the first thing we
notice is the emphasis on price. There are quote calculators, and price features front and centre.
All of which lead to one thing. Prospects looking for the lowest price and a race to the bottom as each business offers lower and lower pricing.
If this is you, STOP!
One of the biggest lessons we learned over the years is “price is elastic”. i.e. People will pay whatever you ask as long as they perceive they get more value than they’re paying for.
But they won’t know what’s valuable and why they should choose you unless you tell them!
In my corporate sales career selling very high end computer software, it was drummed into me that the person who worked with the prospect early in the buying cycle to elicit the issues (what was important to the prospect about solving this) and set the buying criteria (what was important to look for in the solution) would win the deal. Done right, while price did figure, it was pretty low down in importance.
Fundamentally nothing has changed in the intervening 25 years.
The only real difference is where the buying criteria and value clarification gets set.
Today that’s the role of marketing.
Most people when making a purchase of any kind will research online and look for suitable providers.
Once they have a short list, they’ll go into more depth looking at the solutions each provide, social proof (case studies and testimonials) and only then contact the supplier.
This applies equally to going out to dinner where you look up the restaurant, the menu and feedback comments, to high value complex sales
. The only difference with the latter being the amount of information you must provide is commensurately greater.
Given this, your marketing material must answer 4 key questions.
- Why should I listen to you? What’s in it for me?
- What are you going to do for me? List everything you cover. All the features and benefits. What do they get?
- How will you do it? What are the steps involved?
- What if? What results can I expect? What will happen if I go ahead? What will happen if I don’t?
I’ll use an example from a Building Property Inspection company we came across.
Starting with the “Why”
They elicit the pain – and answer the question “Why should I listen to you?” “What’s in it for me?”
One of the biggest issues with buying a property is understanding its physical condition and what it might take to bring it up to scratch.
As a purchaser I don’t just want to know the problems. I also want solutions. And I’d like a one stop shop. The last thing I need is to try and get different tradespeople out to get quotes while considering buying it.
This is straight off their home page…
“We inspect all types of houses & units in all areas.
Over the past 18 years we have inspected over 20,000 properties. Our clients include the legal profession, conveyancers, banks, mortgage providers and most importantly, the general public.”
The site lists the types of inspections they carry out. But every competitor does the same, so how could they differentiate themselves?
Well, they provide a real property inspection report as a sample you can download to experience exactly what you’d get.
It’s incredibly comprehensive. Not only do they tell you what’s wrong, but what it would take to fix it. The tradespeople you’d need and an estimate of what it would cost to rectify the issues.
They also detail real examples of issues they’ve found (with pictures) and the remediation costs. This all adds to a feeling they’re solid and reliable.
They provide Social Proof
No one wants to be a pioneer. As a buyer I want an experienced building inspector who’s seen it all.
Credibility is built by listing the addresses of recent inspections down the right hand side. Listing addresses proves they actually have clients – it’s specific.
There are real testimonials. You know they’re real as they include email addresses and phone numbers. I would like to see more of them though.
Inspections are usually carried out within 24 hours and the reports emailed to you the next working day.
This is where improvements could be made. I’d want an “About Us” section with details of the inspectors, their qualifications and experience.
“The What if?”
“After reading your report, you will know whether you want to buy the property, negotiate a better price for the property or look for a different property.”
Personally, I’d spice it up.
For example put in the average dollar cost of defects they’ve found and how much they could have saved a potential buyer from disaster.
I’d add more comprehensive case studies detailing the lists of defects they’ve found and the impact on the buying price.
How does your marketing message stack up? Is your message crystal clear?
Do you clearly communicate who you serve? Can a prospect immediately understand the problem you can solve, the value you add and why they should choose you?
Do you succinctly answer the “Why”, “What”, “How” and “What if” questions so that your prospects feel comfortable and call you?
The reality is most of your prospects will leave your site without buying or at the very least contacting you for more information. Unless you fix this!
We’re offering full sales process and website review where we’ll focus on your lead generation activities.
We’ll put your site through the wringer as well as dissect your sales process and recommend improvements so you close more business.
The review includes:
- Your sales copy
- Your offers
- Call to action
- Credibility factors (testimonials, case studies)
- The questions every visitor must have answered before contacting you
We’ll then discuss our findings with you in depth and give you comprehensive feedback as to how to improve your lead generation and conversion rate over the course of 2 to 3 hours.
Your investment is $1,750 inc GST.
These are comprehensive reviews and feedback sessions so we can only 4 per month.
Call us on 0414-913-334 to get started.