Cool Drink on a Hot Day - Adding Value
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When I need a new air conditioning unit, what do I get in value from my vendor?
To keep this short and simple, our air conditioning unit went out and it was the most humid week of the summer…a brisk 90 degrees, with 100% humidity.
Our H&C team has been there for us for almost 10 years and any hour of the night I call…he comes. He gets the job done! We called, he came. However, this time, he came, assessed the problem, handed me the estimate. I asked my typical list of 20 questions and asked for visuals and he answered the questions with pretty much the same answer…same answer for each question. He knows us and he knows what it takes to make the sale. But this time he felt a shift in my needs and unfortunately, he was not meeting them.
We conversed and he shared that he understood that I would receive estimates from the other 2 places that I discussed with him and he closed with this. ”You will not get a better price than what I am offering you.” I have extreme loyalties to our H&C guy, but this response really neglected to fill my need as a consumer.
My bids were out!
Team #1 told me I wanted a BMW engine for our house and it was not really necessary, so he told me what “he” thought I needed. Then I received the estimate and he provided the estimate based upon what he wanted and what I wanted.
Team #2 knew I was getting an estimate from another vendor, so they did a drive by the night before, and oddly enough, it was at the same time the other vendor was there. They then google-stalked us and our house to prepare a schematic prior to the next day’s visit. When I arrived at home, there was a gentleman doing some sun measurements and reviewing the pitch of our roof, to determine at what time of day and for how long our house really takes in the majority of the sun. He asked me 20 questions to determine my needs best and while his professional opinion was the same opinion as Team #1 (no BWM engine for an air conditioning unit), he educated me as to what would be most appropriate based upon our needs. He continued to review our blueprints and made a few minor suggestions to our duct work layout. Added that if he was “lucky” enough to get our business, that he would make these adjustment for free.
We have all been there: leaky faucet, wash machine, plumbing, etc. However, who is your person and what do they really provide to you? Who is there for you in the middle of the night when the furnace goes out, when the floorboards are getting soaked, when something goes wrong and they need to provide a solution? Do they provide you with a solution...or a price?
This forced me to really bunker down in thought. As I watched my family’s response to this awful humidity, all I could think about was which vendor meets our needs. Did they take the steps necessary to make the sale? My mind was running rampant with thoughts of the Promotional Products industry - not the air conditioner. These thoughts solidified into action steps and I was reminded of how relationship, trust, value and connection are all so essential in retaining customers and building new partnerships.
While price is important to me, the value that Vendor #2 brought was a lasting relationship that was built on “value”. Two vendors may lose the chance for a $3000+ base order, because they did not assess our needs and connect for a future partnership.
By reviewing this recipe for a solid partnership - one that outlasts the price war - we can all mutually benefit from one another in the Promotional Products industry, while having fun!
- Get to know your customer by simply checking them out. (Social media allows you to know enough to offer value…do your homework.)
- Ask the questions that lead your customer to review their own needs.
- Watch, listen and learn how they respond.
- Help them see “outcome” and something beyond their own vision.
- Educate your customer with opportunities based upon your findings and their needs.
- Offer value, not just price.
- Offer solution, one that outlasts the price.
- Oh and last, it doesn’t hurt to simply offer them a cold drink on a hot day!
