Feeling pressure to increase sales and drive revenue, many businesses may feel the temptation to focus on price in order to close deals. However, there is a better way to increase sales for your print business and make a bigger profit while doing it. More profitable customer relationships are built when you sell value over price because your customers aren’t just buying a product, they are buying the results the product will give them. Value based selling is a sales approach that focuses on benefitting the customer.
Effective value based selling requires that you understand a customer’s needs so you can provide them with a solution that will meet their goals and desired business outcomes. Print businesses can build long-term, highly profitable relationships when they understand what their customer truly values and then deliver powerful solutions. Increase sales for your print business with these three tips to help you sell the value and benefit of your products or services to your customer.
How can I generate more sales in my printing business?
In addition to selling value versus price, print businesses can generate more sales through customization, online marketing, and bringing their store online. DFS provides a personalized storefront where dealers can sell business forms, checks, holiday cards, and more. Dealers can easily set up and personalize their storefront.
Tip #1: Stop Leading With Price
Being cheaper doesn’t always equate with being better. Leading with price means that you will always attract customers who make decisions based on price and not based on value. It also trains your customers to continue to expect and ask for lower prices. Often, this kind of repeated discounting isn’t sustainable for a business.
If your opening line to a potential new customer is to tell them you can get them the products they need, but at a lower price, then you are essentially telling them that discount pricing is the number one thing you bring to the table. Not only are they apt to take you less seriously, but from that point on, every interaction will have them asking you to continue to give them a better price. If you want to sell value to your customer you have to stop leading with price as a differentiator.
Tip #2: Focus on Benefits
Customers are more than willing to pay a premium for something that truly delivers extra value to them. The key is to highlight how you can help solve your customer’s challenges and the value that you bring. There are both tangible benefits, such as quality or on-time delivery, and intangible benefits, such as your company history and brand reputation, that may compel customers to buy from you. Additional benefits could include the ongoing support you will give.
Even among products that have the exact same features, customers are frequently willing to pay a higher price for a product that they perceive to have greater benefits associated with it. One of the keys to selling benefits is to learn your customer’s business, operations, customers, and goals, and then look for opportunities to point out where your product can be a benefit. Keep in mind that customers don’t just buy products, they buy solutions that will make their business more successful.
Tip #3: Bring Customers Specific Solutions
Rather than waiting for your customer to come to you with a product already in mind, seek them out proactively with a creative solution that solves a problem. It’s your job to suggest products or promotional items that could bring them more value. These could be complementary products, such as suggesting the right envelopes to go with their letterhead or packaging forms to go with price tags. Another way you might bring them solutions is by explaining the benefit of choosing a heavier weight cardstock for their postcard or why they should choose a luxury finish for their business cards.
In order to do this successfully, it’s important to understand your customer’s needs and preferences and recommend products that address those concerns. You’ll then be poised to identify what additional print and promotional products you could offer that would help them achieve their goals, which helps both you and your customers to be more successful.
By following these tips not only will you be able to sell on value versus price, but you’ll be creating relationships with valuable customers who are willing to pay for your expertise. With over 35 years of experience, DFS has supplied thousands of dealers with advice and solutions to manage and grow their businesses. Outsourcing with DFS allows you to benefit from industry experts who can help you find ways to offer more printing services and make your business more profitable and efficient.
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- Many businesses may feel the temptation to focus on price in order to close deals.
- Value based selling involves businesses stopping leading with price, focusing on benefits, and bringing customers specific solutions.
- Print businesses can build long-term, highly profitable relationships when they understand what their customer truly values and then deliver powerful solutions.
- Outsourcing with DFS can help you to offer more printing services and make your business more profitable and efficient.