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Auroras News Position:Home > News & Events > Help customers control financial risk

Help customers control financial risk

Date: 2015-07-11 12:40 Source: Auroras Lighting | Read:
The first thing the LED lighting customer cares about, not price, is the risk!
 
Background: From 2008 to the present 2015, a one-meter two 18WLED fluorescent tubes,
has fallen dramatically from $ 30 to EXW wholesale price, the price changes of $ 5, to do the warehouse inventory of importers, it is highly Finance risk.
 
Moreover, since 2008, the global recession is serious, our importer customers must strictly control financial risks, so now for them, stable quality, stable supply is their greatest concern.
A serious bad decision would make the company go bankrupt.
 
"Cheap, cheap, cheap", and now, this is all LED lighting sales staff to hear most of the demands, with the lower material prices, customers
are to find ways to control costs, the pressure will naturally shift to LED lighting Manufacturers Suppliers head.
 
However, the low price is the customer decides to promote LED importesr who bought the determinants of it?
 
Any findings are displayed on buying motives, the main driving force customers to buy has never been cheap. Yes, low price is very important. But only when other factors
are similar, low-cost will be the determining factor, but the "other similar factors" situation rarely occurs. Only a few people in the world based solely on the cheap to buy things
. How many of you people are wearing from the flea market Amoy to the shirt? Or looking at a 12-inch black and white TV? Only 20% power factor old style LED lamps?
 
If cheap is the only purchasing power, then you only need to meet the demand for low-cost to make business decisions, such as $ 0.05 lamp beads, $ 1 driver, you dare to
buy such a lamp it? But you are not always based on low price, why did you think that all your customers are only thinking about it for a low price?
 
The fact is that cheap is not the only demand of customers. There is a secret, almost unknown, including those that tell you the value of sales to be masters,
the secret is: People do not always buy the best value, but they invariably will choose to buy at the lowest risk.
Particularly decisive factor LED lamp life LED lamp beads, LED driver power supply, LED radiator shell quality three reasons.
 
Your existing customers and potential customers are most concerned about is not the price, nor value, but risk.
 
What are the risks?
 
Potential cost when a customer is the risk arising from mistakes. Just part of the problem is not just a question of money money, if not done right choice, customers need to
also include the need to pay duties, psychological, emotional costs. The smaller the risk of purchasing decisions, the more likely customers choose your product or service, regardless of the price.
 
To truly understand the risks, you have to start with the customer's point of view. They try to put you in a position, if the customer want to buy your products or services, calculate how much lower they have to bear the risk.
 
The following examples can help you understand correctly. Imagine you are the orders of the wife of the way to work to buy some disposable cups, because the night to
invite friends over to dinner. You stop at a local shop to between brand A and B to choose, you choose A. The home, your wife said A bad this brand, had previously been to buy is B.
 
At this moment, what happened to you? What are the consequences of your decision? I do not know your situation, but I might therefore receive some negative emotions.
My other half will be losing his temper with me, it will be your most painful part of the cost decision. But there are other costs.
 
You have to go correction. If you have time, you have to change back to the store brand B cup. So, in addition to the emotional cost, you have to pay extra time, cost, physical cost, or
even cost money - all of which are based on your wrong decision. These costs - negative emotions, a waste of time and spend more money - poses a risk to make a purchase decision after you need to bear.
 
There is a simple exercise can help you properly understood. Draw a vertical line, top line, write down the number 10, the bottom line, write 0.0 is the lowest,
10 the highest risk to buy a pack of disposable cups would it be? You might say that the risk is close to zero, then the risk that the value of X you write between 0-10.
 
Let's look at another extreme example. I once had a client, is an adoption agency. When a young woman in unwanted pregnancies, and she have to decide
whether to let her unborn child has been received. Raise, how much of this risk? Please put your thought to represent this risk value X written between 0-10.
 
Most people put this risk value is written around 10. Risk in this case is the consequence of a lifetime of at least four people need to bear, including the mother of the child, to
close. Couples raising children. This is a very high risk. Compare the two risk values ​​of different decisions, you can conclude that a different decision would bring different risks.
 
Therefore, the risk of a customer's perspective
 
Now, let's apply this concept to your customers. Remember, every time you're in your potential customers to sell your product or service, they have also received some of the risks; every decision they make are associated with different levels of risk.
 
Imagine your typical customer. Then imagine that you will ask them to do the typical decision. For example, one of your products, for example, imagine that you are the first to
recommend it to your customers, now, suppose you are a customer, try to observe his perspective. From 0-25, your customers to accept your product, you need to take much risk?
 
A simple method of calculation is, you only need to ask yourself, if you, or your company, your product can not honor their commitments, what will happen to their customers?
 
If your customer purchases the product, the product does not achieve what you claimed would achieve the function, your customers will therefore have any trouble? What consequences? What are their risks?
 
Do not say there is no risk, because no matter what happened, you will be responsible for resolving. You might think so, but your customers do not know. Remember, you are trying to
observe from the customer's point of view, but not your own point of view. The size of the risks identified by the customer.
 
On risk in the sales role in this issue, I have an excellent case. A few years ago, a young man to find me to help his company increase sales. At the time, they sell product is a
breakthrough in the most advanced technology in the field. They are designed for use in food processing equipment modification of computer control, the results of the use
of these controls is that in less than a year, the savings in energy consumption can pay the cost of the device.
 
It appears to be a great product. But were unable to do so to achieve rapid sales.
 
"Tell me how you recommend to people your product?" I asked him.
 
"We first screened for potential customers are likely to use our equipment, and then call the other side of the production engineer or plant manager, the information gathering device they are using.
Then again, I send a written proposal to the other party, which described in detail the economic returns of products, and finally, I call a phone, hoping to complete the transaction. "
 
"Let me see if I have understood right," I said, "You call a plant manager, I guess most of the factory manager is 50-year-old male, may have advanced degrees, has worked for many years in the factory. For ? "
 
"Right."
 
"Well," I said, "So, you give almost twice as large than the person you call and ask them to spend 3-40000 US dollars, have not heard from one company to them, I have never met before hand salesman, never seen them buy equipment, right? "
 
My client some conflict, "If you have to say so, I guess you're right."
 
"I say this because the other side is thought so." I replied,
 
Now the question is - will customers buy risk? If that factory managers agree and you trade by telephone, from 0-25, you think the risk is borne by him for how much?
 
Put you in position to see the other side of the issue. Assuming your device does not work, he may have to shut down the production line and spend a few weeks time correction, confusion due to various factories, he may even lose their jobs. This is his risk.
 
Four strategies to deal with risks
 
If you are the plant manager, the original base price of $ 30,000, in order to eliminate the risk, how much money you are willing to pay more? Double the price sounds reasonable.
The tips should help you deal with "low-cost" issue. Low little worried, but to consider how to reduce risk.
 
The following four strategies can help you reduce the risk.
 
1. Establish a solid, in-depth relationships with key decision makers. Relationship mitigate risk. The closer the relationship, the lower the risk. This is the situation in a competitive long-term relationships
with our customers sales always get Bias. This price is nothing to do with risk.
 
2. Full use of third-party recommendation information: old customer lists, case studies, recommendation letters. All of these are telling customers, other people, or a lot of other people
have used your product or service. This means that customers buy its reduced risk.
 
3. Try to allow customers to experience your product as possible. For example, if you sell a device, try to get customers to try. Equipment, or at least to visit other companies use such a
device. Let your customers more personally see and feel the real product, their risk is smaller.
 
4. Finally, your company should strive to provide the ability to reduce the risk of related services. Trial period, money back guarantee, delayed payment, guarantee, desk and so on. All of which can reduce the risk of customers. Can you do that?
 
In an economic downturn, the winner LED factory sales athletics stage is to provide a low-risk business, rather than to provide low-cost businesses.
Lighting Paradise hoping to provide the right price for our partners, the right quality, in order to reduce the risk of customer funds in the terminal sales market.
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