Your business probably didn’t start out as an auction house where low bidder wins. You had a vision, built a great plan and saw that plan as profitable. But recently you can’t stop your sales team from “matching pricing” or undercutting the competition.
So where is all the profit now?
It got swallowed up when your sales people started going to war with your competition. And I am not talking about a price war here. Worse than that, they began comparing each of your offerings to that of your competition.
When that happens, the customer stops looking at the value of services and starts looking at how much they are. Your customer cannot necessarily identify why you do what you do better than your competition but what they can identify is what each product or service costs. And if your sales people have already started the comparison, then your customers will just pick the cheapest route.
Lead your sales team to forget about the competition (Quit Chasing Your Competition) and focus on delivering the best products and services your company has to offer.