5 Ways to Increase Bids, Leads & Sales without Lowering Prices
A few days back, a customer sent me the following message:
Our close rate is dismal compared to the ResponsiBid national average. Do you think our prices are too high? What is the main knob to increase that number so we bag more jobs?
Now, my response to this client is involved, and I’ll get into it. But first, I need to give you some background.
I spend a lot of time working with customers to refine their bidding process and increase bids (because that’s what we do at ResponsiBid – we handle proposals, close rates, sale psychology and more. It’s just our way of life).
But this question belies a very interesting thought. It implies that there’s some control or knob that you just turn to make people choose your proposal. It’s a commonly held misconception, especially among early business owners.
But this misconception needs to be cleared up, because it leaves out the 5 most obvious and important things that you can do to add value to your company’s uniqueness, thus allowing you to keep your prices where they need to be.
5 Ways to Increase Bids, Leads, & Sales – without lowering prices
So in my response to my customer, I gave him 5 ways to increase his bids, leads, and sales – all without lowering his prices. In fact, it could actually allow him to raise them, as he’s adding extra value to his packages.
I also recommended that this client start talking to the people who don’t hire him. This can seem like a hard or daunting task if you aren’t doing it already, but ultimately it’s people who don’t hire you who can give you the best insights into how you can better position your business. And it’s by talking to these people who choose your competitors, that you’ll be able to take these 5 ways, and really make positive changes to your business’s presentation.
So let’s dive into those five things, shall we?
1. Package Presentation
When people look at your packages, are they stuck on the price or are they able to recognize the value they’ll be getting from you? After all, maybe you’re offering something above and beyond what your competitors do – and that’s why there’s a price difference. You need to make sure that potential clients are able to recognize your increased value and service levels.
Tip: A great place to bring these up is in your follow-up emails, because it’s reminding people of all the extra value they could be seeing.
2. Define Your “Unique Selling Proposition”
Why is your business special? And why do potential clients care? Within that vein is something known as your “Unique Selling Proposition”, or USP. If a customer can’t see your USP, they’re going to keep shopping. But if there is something that only your company offers, and your audience can immediately see and recognize that, well, they’re going to stop shopping. And they’re going to hire you.
Take away: Make sure your Unique Selling Proposition is readily, easily, and completely identifiable.
3. Make a Personal Connection
Are you using walls of text? Or are you using short but sweet videos to give your company a relatable, recognizable face? Videos are an under-used key to instantly building a “personal, emotional connection” that can be very powerful. It’s that connection that will help your business reach through all of the competition – and let your business be the one welcomed into each client’s home.
Tip: In your video, show some humor, some of your endearing personal quirkiness, and serious professionalism. Mix generously with your USP to win more jobs.
4. Be Prepared to Strike While the Iron is Hot
When a bid comes in, there’s two things that need to happen.
First and most importantly, there’s the human response. Your client needs to be called or reached out to. Plus, when you call someone, you’re catching them while things are fresh. You can guide them through the buying process. Your potential client is going to feel invested in the proposal, well cared for, and now obligated to buy from you. In other words, you need to strike while the iron is hot.
Secondly, you need to have an automated safety net in place for those instances where an immediate contact isn’t possible. Maybe you’re working another job or on the other line with another bid. And in those cases, ResponsiBid’s automation system is your perfect safety net.
Tip: Using personal interaction with an automated backup system is the key to catching those jobs that used to fall through the cracks.
5. Use Options to Drive More Business
Finally, make sure that you’ve got several options pre-mapped out for your potential clients. By offering several levels of packages (like “Good,” “Better,” and “Best” packages), you’re going to be able to offer consistent, reliable quotes. And that way, you’ll be able to land more jobs, because the value becomes more readily visible.
Tip: Turn those negatives into positives: by offering packages, you’ll be able to avoid ultimatum pricing, which generally backfires as those potential clients call your competitors for a second opinion.
You’ll also be able to quit asking, “So… will that work for you?” (because they always answer, “Well, let me think about it.”) and start asking, “Which package is the one is right for you – good, better, or best?”