There is a simple test to understand your relevant power position as a trusted adviser with your clients. Ask yourself these questions:
- Do they call you first? Whether it be issues of opportunity, challenges, or a need for market insight – whom does your customer call first? In uncertain times, people look for certainty and authority – qualities provided by the most trusted. If you are not getting those calls, someone else has their trust.
- Do you get last look? When your customer wants to keep you as the preferred partner, they assist in the buying process. That shows up in the form of access to influential people within the prospect’s organization and information that will help you in winning the business. If you are not getting unique access or last look at scope, specs and price, you are not in the favored position.
- Do you receive a premium price? Competitive bidding will diminish the range of prices that can reasonably be considered on many of the commercial purchases in the marketplace. A premium is expressed as any amount over that of the next most credible provider’s price. When a customer wants to keep your insights and value, you will be able to keep your price premium.
Often with customers we believe that we have a great relationship. This can lead you to believe that you have a unique relationship or a powerful connection. The real measure is behavior. Ask the three questions to determine if you are really in a power position.