Q: How do you make in-roads with a prospect who is happy with another supplier, who is providing a similar product at a lower price? Product is lower quality, but perceived as the same.
Sounds like a tough nut to crack. Let’s think about this together. The first question I have is this: Is the potential of the account worth the large expenditure of time and effort that it will probably take to make progress in it?
Some accounts just aren’t worth it. It’s OK to make a cold-blooded business decision not to pursue some accounts and some business. (Assuming, of course, that your manager agrees.) This is a situation that will take a lot of your time, and your success is certainly not assured. So, first decide if your time is best invested in this account or some place else.
Let’s assume that you have decided that the potential is worth the time, or that your manager has directed you to hang in there on this account. Now what?
In this case, your superior quality is a non-factor. Who cares? Evidently, not the customer. The lower quality product is OK with him.
When we are selling expensive products, this is difficult for us to accept, but when we are in any other aspects of our lives, we understand this position totally.
For example, I drive a Mercury, not a Mercedes. Now I understand that a Mercedes is a higher quality product than a Mercury. But I don’t care. I’m not a big car person and I just want something that is comfortable and reliable. The Mercury fits my needs perfectly. So, while you can make a case that a Mercedes is a better quality product, the point is that I don’t want it. So, it’s not a better quality product for me.
This is not difficult to understand. I suspect that you, too, have not spent the additional money to purchase a better quality automobile than that which you drive.
This customer is like that. You may have a better and more expensive product, but they are happy with their Chevy.
If you want them to throw out their Chevy and buy your Mercedes, you must find a way to make them unhappy with the Chevy.
So now we are back at the basics once again. Find the key decision makers and influencers. Build a relationship such that they trust and respect you. Dig deep into the account and find some pain – some gap between what they would like to have and what the Chevy is providing them.
If your product really is better, those portions of your product that are different that what they are using should some how save them money, or reduce their labor, or increase their profits, or make them feel more secure, or… something. Your product should bring them some measurable advantage that they are not now receiving.
Your job is to find that gap, and then show how your product fills that gap, and how this customer is going to receive more value than the increase in price of the product is going to cost them.
If you don’t think you can do that, than don’t bother with this account. Leave your business card, let them know you’d be happy to talk with them if they ever want to do so, and find someplace else to sell your stuff.