All Posts Tagged With: "competition"

The temptation for many small businesses owners is to entice customers with “the lowest prices.” After all, everyone is looking for a bargain, right?

Competing on price might result in some short-term success, but it ignores the categories in which you can distinguish yourself long-term: value, quality, knowledge, customer service, training, and the ability to solve problems, to name just a few. Competing on price alone causes customers to see you – and your competition – as offering identical products and/or services.

Sure, offering the lowest price can help you close a sale, but does it gain you a loyal customer, one who will return time and again to buy from you? In reality, all you’ve done is complete a cold, calculated transaction, another line on the balance sheet. There’s a huge difference between completing a transaction and building a relationship with your customers.

Maybe that “customer” will return if you continue to offer the lowest price. And if the competitor down the street lowers his price? Well, goodbye customer. Are you going to lower your price to woo that customer back? Will they ever feel comfortable paying full price again?

Here’s a suggestion…don’t focus on price. Instead, listen to your customers, learn what they need, how you can make their lives easier and more satisfying. Price should be the last thing you talk about. If you can solve a problem or fulfill a need, price is almost irrelevant.

Your job as the business owner is to find out what the customer wants and needs. Ask lots of questions, then use the benefits of your product or service to show how you can save the customer time and money, or make their life easier and better.

Popularity: 2% [?]

(Fourth in a Series)

Consumers are bombarded by thousands of marketing messages every day. Everyone claims to have the best prices in town, the greatest customer service, the most satisfied customers. If you sound just like the other guy, chances are you won’t stand out from the crowd, no matter how good your product or service.

So, how do you differentiate yourself from the competition?

Start by taking an honest look at what you have to offer and compare it to others in the same industry. You’ll probably see a lot of similarities but there will be differences. Is it your experience? Your use of technology? Your clients? Your results? Your customer service record? Your price?

Once you’ve identified what makes you different from the competition, craft your copy to emphasize the benefits of those differences. Tell your readers why it is to their advantage to use your product or service instead of the competition. Don’t be afraid to provide head-to-comparisons — assuming they come out in your favor.

(Next: Prove It!)

Popularity: 35% [?]

Over at Copyblogger, Brian Clark had some fun this week with list headlines. Seems every story featured on the cover of a recent issue of PC World featured a list headline. Brian’s a big fan of the technique and has a little exercise for anyone who wants to take part.

Anyway, it just so happens that this week’s Stumbling was jam-packed with sites that feature — you guessed it — list headlines. Let’s get counting, from the most to the fewest:

1. Writing at The Future Buzz, Adam Singer offers “65 Bite-Sized Web Marketing Tips.” The sheer number might seem intimidating, but Adam stays true to his word and keeps his suggestions to single sentences (for the most part), and short ones at that. Lots of useful links.
2. The folks at The Bootstrapping Blog came up with “50 Guerrilla Marketing Tactics You Should Be Using.” Some are a little off the wall — Temporary Tattoos? Sponsor the Homeless? — but most are brilliant. Great suggestions for businesses where cash is at a premium.
3. We all want to know what our competitors are up to, right? But short of breaking in at night or hacking their network, what can you do to get the real goods? FutureNow’s Bryan Eisenberg says there are several strategies, all perfectly legal, to spy on your competition. If you’re comfortable with some esoteric web tools, these look like they could be a lot of fun to play with.
4. Anyone who has read this blog knows I’m a big fan of Google and the awesome tools its provides. Gil’s Method offers “11 Obscure Google Tricks You Didn’t Know Existed.” You can track a UPS package on Google? I didn’t know that!
5. I still admit it: I don’t get Twitter. I’ve looked at it from every direction and just fail to see its usefulness as a marketing tool. But that doesn’t mean other people aren’t taking advantage. Jeff Woelker has come up with “7 Habits of Successful Twitterers.” My mind remains open…

Popularity: 73% [?]