Really successful businesses stand out – they differentiate.
If you are selling something or providing a service which is the same as your competitors, why should a customer choose you?
By differentiating you make whatever you are selling stand out from the rest. You can compete without lowering your prices.
Consider how you can differentiate your product or service to make it more desirable.
Can you give a guarantee that your competitors aren’t giving?
Can you improve your after sales service? Maybe promise to return or check on the product/service after a specified period.
What about combining two different services to provide a “package”?
A landline or freephone number gets more calls than a mobile number. The easier and more transparent you can make contacting you, the more calls you are likely to get. It might be worth considering using a Virtual Assistant to be a consistent first point of contact.
We know of one company which created a simple video explaining what their product could do and how best to use it plus showing examples of previous installations. Sending that with their price increased the conversion rate by a high percentage.
What about making it easier for customers to pay – and promoting it?
Is there a niche which needs something special you can exploit?
One of our clients is a building contractor and was asked to quote for a job for a restaurant. The price he gave was to do the work overnight so the restaurant could remain open and takings weren’t affected. Even though the price was nearly double the nearest competitor, guess who got the job? The restaurant didn’t lose any takings so was happy to pay more.
Realising this was a great niche market, the business has a USP (Unique Selling Proposition) which says that they aim to keep your business operating so you don’t lose revenue. It does mean working nights and Sundays – but is highly profitable.
Competitors may be prepared to do the same – if asked – but they don’t promote it.
Consider ways you can make your product or service stand out.
Our team would enjoy discussing ways to help you differentiate. Contact us.