They cut down their prices yet again? Oh the nerve!
If you’ve been participating in a price slashing battle with competing businesses, we have good news for you: there’s another way. In fact there are 8 of them. It’s time to put your frustration to bed and compete with a superior strategy.
1. Stand by your pricing and don’t give discounts.
This says a lot about your service’s value and your business’s credibility. Notice how people generally don’t trust car dealers? They’re more worried about the deal others may have received vs. being content with the deal they did get. You can avoid this dilemma altogether by sticking to your guns.
2. Post better photos on your website.
Whether you’re hiring a hardscaper to build a patio or purchasing push pins on Amazon, chances are you want to see a clear representation of what you’ll receive. Find a friend with a camera, hire a local photographer, or ask your web designer (here at OSC, we have partnerships with local photographers who give discounted rates for our clients).
3. Beat competitors in search engines.
If you rank above your competitors’ websites in search engine results like Google, the battle may end there. Search engine optimization allows your website to begin rising above other results for specific search queries. Not ready to hire an SEO expert? You can get started on SEO all by yourself with articles like this!
4. Make doing business with you easier.
Corporate giants spend piles of money trying to make purchases easier and it’s not hard to see why. We’re all busy (and/or lazy). Consumers can make huge purchases with just the click of a button now, why make them jump through hoops with forms and log ins?
5. Display reviews and testimonials.
A big reason why Amazon is so successful is their giant collection of customer reviews. Consumers trust other consumers and would rather look at their feedback before making a purchase. If you have satisfied customers, ask them to provide you with a review!
6. Write a better service/product description.
Whenever there’s a question mark in a potential buyer’s mind, they typically don’t buy or take the time to ask. Why should they when there are so many options on the web? Avoid losing customers because of this by providing accurate and concise descriptions.
Another thing to remember is that potential customers don’t know every benefit of your product/service. This may seem like a no-brainer, but too often businesses neglect outlining key features. Perhaps competitors are making this blunder and that’s where you can swoop in. If you hate writing or lack the time, remember that content writing services are available.
7. Use your brand to build value.
Why is your business better than your competitors’? Use your reliable brand to justify pricing. Are you a seasoned company with decades of experience or a cutting edge start-up with fresh ideas?
With companies like Prada and Louis Vuitton, it’s pretty clear this strategy can work.
8. Highlight what makes your business unique.
Maybe you couldn’t tell your services/products apart from others in a line up, but there has to be something that sets you apart from competitors… your best asset may be right under your nose.
Don’t waste another minute worrying about your competitors’ next price drop. Let them keep on devaluing their businesses, you can win with the previous approaches!