Too many building materials conversion sales calls don’t result in an order. Your success rate will always be lower than you’d like, but it can be much better.
I am talking about converting someone like a builder, contractor, dealer or architect from another manufacturer who offers a comparable product.
It’s usually not the cost of your product that’s the problem:
It’s The High Cost of Change
Too many building materials sales people are overly focused on the benefits of their product. They can’t wait to tell the customer why it’s stronger, saves energy or has a better warranty, etc. The reality is that while the benefit may be real it usually is an incremental improvement. It’s just not that important to the customer, especially in relation to the cost and hassle of change.
The sales person just can’t understand why the customer didn’t buy.
To Be More Succesful – Understand the Customers Cost of Change.
The costs of change can include:
1. The customer is overworked and understaffed. He is not looking to change things; he already has enough problems with things as they are. While you get up every day and feel that your product is the most important thing in the world. To your prospect, your product is probably not very important with everything else they have to manage.
In this case, you need to make your product more important to the customer. The most effective way is usually to show them what they risk by not making your product or message more important.
2. As your customers get larger and more sophisticated, they have computer systems that control and measure everything. It can be a hassle to simply change a product or add a new supplier into the system.
3. Do his salespeople or other staff have to be trained in your products?
4. Are there displays that have to be changed out?
5. He will probably have to make an investment in updating his website.
This is why many grocery chains charge the manufacturer slotting fees to cover these costs.
Two ways to reduce the cost of change
1. The best way to reduce the cost of change is to know when the current supplier is having problems. In this case, they are probably now costing the customer more that reduces the cost of change to you.
2. The next way is to analyze how your customer does business with your competition and loom for ways that you can do it better or more cost effectively. There are problems in every relationship, you need to find them.
Click here for another way to look at pricing if your customers tell you your price is too high.
Contact me if you want to find out how to reduce the cost of change to your company and grow your sales. I will find the best way for you to convert more customers.