In today’s competitive market, it is easy to lose track of where our supplies come from or even who our suppliers really are. For those of us who are suppliers, this can be scary. All of a sudden, everything is dependent on being the lowest price. But who wants to be a low price supplier? As I wrote in an earlier post, no one wins a price war.
Let me tell you about Sir Francis (and if you are a bit sensitive about animals, you may want to skip to the next paragraph). Sir Francis is our pig, named after Sir Francis Bacon. He was lovingly raised by Lou and Stew from The Farmers Larder. Wifey and I met Sir Francis and he was a cute little piggy. He is now in our freezer (all 62 KG of him) ready to be invited to dinner. When I tell friends about Sir Francis, some say, “How can you name and pat the pig you will eat?”
If I buy pork at the supermarket, I have no idea where it is from. I have no control over how the pigs were kept or cared for. Knowing my supplier, The Farmers Larder, I KNEW Sir Francis was loved, well cared for and humanely processed. I trusted my supplier to do what was in my best interest as well as theirs. In terms of cost, I was willing to pay whatever they told me (which turned out to be a great price).
Danielle from The Cartridge Family was talking to me about printer paper. I had always used Reflex and was happy with it. She educated me on AA paper and how it was better for the printer for a couple of reasons. Because I have a level of trust with Danielle, I will be switching to AA paper and I am yet to find out the price difference.
If you are a supplier, what are you doing to add value or at the very least, show the existing value to your clients? If your value proposition is strong and proven, price will not be a sticking point.
What about your suppliers? Where do your supplies come from? Is your supplier looking after your needs, not just short term price but your long term value? Now days, there is ALWAYS a cheaper version (typically from China) but never before has the adage “You get what you pay for” been truer.