As one of the most expensive providers in my market, how can my business overcome competitors undercutting my price and still close deals?
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You don’t. Listen, the definition of “overcome” is to defeat, to conquer. Nothing about that says “win-win”. So let’s drop the phrase “overcome and instead focus on what the prospect really wants.
In the absence of differentiation, all things being equal, price become the deciding factor. So first, when selling a product or service that has a high price tag, it is critical to understand your prospects business needs and your competitors offering. Second, you MUST identify what your company does best, and hopefully, better than anybody else in the market. Period. Once you identify that, you can justify your price tag because you have something unique, something of quality worth the price. Third, after LISTENING TO your client’s business issues, see if there is a fit between what you do best and what he/she needs. If there is a fit (a win-win) then they’ll pay your price.
Give it a shot…let me know if this works for you!
