Stop Being A Commodity

Many business owners think they have to sell on one thing and one thing only – price. This is absolutely the right path to take if you want whatever the product or service you offer to be treated like and thought about as a commodity by your clients and prospects.

Most of us don’t really want to be in the commodity business. We want to be in the customization business, in the business of providing something that is special and different and that people buy for the experience and not just based on price and price alone.

There are a variety of ways to do this, even if you are in a highly regulated field with restrictions and regulations or if you’re in a business where you don’t control the price of your product or service.

Think about the experience you want your clients and prospects to have with you and see if there is a way you can make that experience stand out above everyone else in your field.

Take for example, a now famous tavern in New York who brings it’s customers a nice, big, fresh muffin for them to eat for breakfast the next morning. It’s wrapped in a nice wrapper with ribbon attached and the waiter simply says, “we hope you enjoy this for breakfast tomorrow morning.” This tavern is not in the breakfast business, not even close, but the experience of that simple muffin makes them very different than any other restaurant, certainly in New York, and probably in the entire state of New York, or maybe even in the entire country.

What can you do so your clients have this kind of experience and are happy even to pay extra for it?

Think about this from the perspective of not doing what’s easy (that’s what everyone else does), but from the perspective of how can you go the extra mile and do things others in your industry aren’t willing to do. How can you really stand out and get noticed, be different, and give people an experience they will want to come back for. And, that they’ll want to come back over and over again, and even be willing to pay more for that experience.

The absolute worst position you can ever take in your business is being the lowest priced. Yes, we would all agree, there are businesses that have made their living this way, but it is the exception and not the rule.

One of the biggest problems with trying to run your business on price alone is that somebody will almost always be willing to come in, cut their price and beat you in that position. Also, think about the kind of clients the leading lowest price companies attract and then decide if those are the types of clients you want. If they aren’t then you have to choose a very different position so you can attract the kind of clients you want to attract.

Challenge yourself to take the opposite approach and instead of thinking about price as the way to sell, instead concentrate on giving people great experiences, being different and unique, standing out in your client, and prospects, minds so that price becomes something nobody even thinks about. And, certainly not something they make buying decisions based on – ever again. How would that change the face of your business?

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