Don't Fight A "Cheapest Price" WarTeacher: Akinori Furukoshi
As a business owner, you want people to spend money on your business rather they go and shop at other places. Because of the e-commerce boom, shoppers have too many choices these days. Your business must stand out from hundreds or even thousands of competitors.
--Cheaper is Better?--
Maybe, you are thinking the cheapest price will attract customers. Sure, it does, but that's the way most of dot coms end up deleted from syberspace. They priced their products or services too low. Their profit barely covered their expenses. Webmasters hope increased business volume will give them big bucks someday, but that "someday" never comes. If each sales doesn't make any net profit, increased sales volume won't make any profit either. Zero times one million is still zero. That's simple arithmetic, isn't it?
--The Best is Good?--
OK, the cheapest doesn't work. How about being the best or better? Well, providing the best products or services is essential, but telling people yours is the best doesn't work. Phrases like "the best deal," "the best quality," etc., are overused already. Today's shoppers are accustomed to those phrases. They don't think any product can REALLY be the best. They just think "Here comes another one," and they are gone.
--Be Different and Be Unique--
To win the game, make your business appear different from others. Be unique. Again, using over used phrases won't make your business unique. It only makes your business alike - like other businesses. So, how do you make your products or services different from others? You can call your products or services by a special name, or in some cases, tell the world what you have been doing. Honestly and in detail.
--Here is An Example or Two--
You might be a photographer and offer on-location wedding photography like many other photographers do. Don't just list "weddings" in your ad. Instead, offer your service by saying "Ask us about our 'Moment of Life' wedding photo package." If you sell walking aid equipment, don't promote your business by advertising, "Try the latest walking aid." Say instead, "Try our 'Space Walk' for your next fun excursion."
Now, let's say you own a gas station along a busy highway with competitors on both sides of your store. You and your competitors put up the same price. You want more customers, but you don't want to risk your profit by lowering your price any father. Instead, you put up a new sign that says, "We clean your car's windshield so it's clean!" The competitors also clean windshield but they don't SAY so, and customers aren't sure. When you drive into a gas station that offers full service, you "assume" they will clean your windshield, but you are not 100% sure. Putting up the sign gives customers "confidence" and makes them think your service (and product) are special. You have just made your service different! But don't stop there. You can add, "We clean your car's headlights." or even "Clean washrooms are available."
Do you see how to make your products or services extraordinary and how easy it is? Do you think it won't work? Remember when you had to go to a washroom while you were on the highway. Now, you can see the BIG difference, can't you? Make your products or services different. Don't fight the "cheapest price" war.
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