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The Beverly Clark Hospitality Training Newsletter provides catering professionals with the ongoing tools and resources they need to meet the challenges they face and assist them in finding solutions with not only the wedding market, but all aspects of their business, including corporate markets, social catering, sporting events such as golf and tennis tournaments and charitable events. |
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Price Wars – Making Your Sales Approach NOT About the Price! In the hospitality/special events industry, we are not immune to price wars. As in any industry, they can kill your margins, not to mention making the "closing" process of your sale more difficult. Focusing on a "value-based" selling strategy seems to be a good alternative, but before we talk about that, let's explore and evaluate the problem a little more closely. When costs increase, they do so across the board for you and all your competitors. Unless your cost structure is wildly inefficient (compared to your competition), one of the major problems is that competitors wait to raise prices until they see if everyone else is as well. They do not want to be the first one to raise prices, and then run the risk of losing business due to what appears to be price gouging. What happens, though, is that if you do not raise prices when all of your costs have increased, you are not being financially responsible with the profits of your business, and run the risk of putting yourself in an unhealthy financial position that can lead to reductions in staffing levels, services and experiences provided, and eventually bankruptcy. When necessary, taking reasonable increases at appropriate times of year is a step to ensuring the financial health of your business. Clients understand this as well – everywhere they turn, costs are increasing around them, and you are no exception to that rule. While no one wants to "over pay", customers are always looking for the best value and cost without sacrificing everything that they want. In this type of economy, service standards and experiential touches can be the differential between closing the sale and losing the sale to your competition that is still operating under last year's prices. In the sales process, the ideal goal would be to present your product and service in such a way that your customer realizes how much they want it without even knowing the price. If a customer has already made up their mind about you, your product, the reliability, and the overall experience, price almost becomes incidental. Especially in our industry, we have one chance and one chance only to get it right. You cannot have a "do-over" of an event if you make a mistake. You cannot just return the product for a new one as is the case with a tangible product. If your clients know that you realize this, and the importance of getting it right the first time, you have just elevated the trust factor in your relationship and made big points in getting to the final "close". Price wars are only possible when the product, service and experiences from different competitors/vendors are so identical that the client doesn't care who provides them. So make yourself different. Make it all about service, host and guest experience and relationships. And, make sure that in your sales approach, you highlight the DIFFERENCES rather than how you are similar to your competition. This will allow you to stand out from the rest, and when comparing you with your competition, your client will remember YOU and how you made them feel. Price factor shrinks as clients decide that what they want is the differences that you provide. We all have something unique to offer. By taking the time to determine what that is, what your sales approach will be and how you will not focus on price but on quality of service and experience, you shield yourself and your business from the "price wars" that we all want to avoid. Print this article >>>
"Some people fold after making one timid request. They quit too soon. Keep asking until you find the answers. In sales there are usually four or five "no's" before you get a "yes." "
- Jack Canfield |
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Using Internet Prospecting to Drive Your Revenue The Internet has become a staple in the business world today - advertising, research, competitive analysis and prospecting. Locating appropriate prospecting groups via the Internet (and having prospects find you) can be challenging, to say the least. As with most marketing tactics, there are numerous ways to approach internet prospecting, and the right way is the one that works for you and your business or service. Experimentation is key – don't get "stuck" doing the same thing over and over if you are not getting the results you want – change it up and track your success! Here are a few things you can do to start the process in determining how Internet prospecting will work best for you:
Once you have identified a lead list and are ready to prospect, how are you communicating with your prospects? More often than not, the first communication is an e-blast to an entire prospecting group. Why do we love email so much? It's cheap, it's easy, it's fast and it reaches many people at once. Recipients are accustomed to getting Information via email, so many people scan their emails quickly and delete more than they read. So, the rule of thumb for sending an email is this - be brief, be brilliant, be gone! Proper follow-up consists of a phone call if you have the phone number, and 3-4 more emails about the same subject. You do not want to be a pest, but you cannot give up too easy, either. It sometimes takes a prospect 4-5 times of seeing something in order for it to sink in. To increase your chance of getting more "opens":
You are not typing an email to a friend, so keep your content professional, short and to the point. Include a table of contents when necessary, and organize information logically. It's ok, and preferable, to link to a website for more information. And please - don't forget the UNSUBSCRIBE language!! Track Your Success! The calls and emails are now pouring in. . . how are you tracking the results? Don't drop the ball by not tracking which of your advertising/marketing ventures is yielding you the most success. You want to know what to repeat. And, what to NOT do again! Evaluate your results on a regular basis and compare print media versus internet marketing. Next month, we will talk about email's "reach" and collection procedures for building your database! Stay tuned! Print this article >>>
"An organization's ability to learn, and translate that learning into action rapidly,
is the ultimate competitive advantage." -Jack Welch |
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Promotional Products  Special Offer to Beverly Clark Hospitality Training Newsletter ReadersGive Your Clients a Gift to Remember Beverly Clark's I Love You Because... Only $2.50 per book with purchase of 120 books* Quantities are limited. Here is a wonderful book from Beverly Clark that you can use as an amenity for a bride, a turndown present for wedding guests, honeymooners and for almost any romantic occasion. And it costs less than a greeting card. These beautiful 96-page hardback books are 5.5" x 5.5" in size and regularly priced at $9.95. For more information or to place an order, contact Cathy Feldman at 805-682-8380 or feldman@west.net. For additional information visit >>> I Love You Because... Beverly's Wedding Planning Tools & Worksheets For Brides Our Wedding Planning Tools & Worksheets provide you with helpful hints for your brides to stay organized when planning their wedding. Simply download the worksheets to email to brides. Your "time-crunched" brides will thank you! Beverly's Tips >>> Interactive Planner The Interactive Budget Planner helps brides determine exactly how much to spend on each element of their wedding. Our Interactive Planning Calendar is designed to help brides figure out exactly what needs to be done and when it needs to be done for their wedding. Interactive Budget Planner >>> Interactive Planning Calendar >>>  Beverly's Advertising ResourcesContact a Beverly Clark Representative about advertising on one of our websites. A strong internet marketing presence is a MUST today! T | 800.933.3434 E | info@beverlyclarkenterprises.com Training and Certification For more information on the online Beverly Clark Hospitality Certification Program as well as live training, seminars and on-property consultation services please visit: BeverlyClarkTraining.com 
"Satisfaction does not come with achievement, but with effort. Full effort is full victory."
- Mahatma Gandhi 
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Congratulations to our new Beverly Clark Certified Wedding Professional: Tova Celia Verana Verneuil, Dreamy Weddings & Tours As well as gaining her certification, she now have the right to use a logo with her new designation on all marketing materials. What Do You Want to See? Send us your ideas for future newsletters and topics and we'll do our best to accommodate your request. |
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For information on advertising in this newsletter please visit >>> Advertise with Us |
