Value Added Marketing
Once upon a time, in a land far away, people made things and sold them for a fair price. Imagine that, right? These days, it seems we pay far too much for some things and far too little for others. Do you really get more for your money? Is that “something more” a tangible improvement on the product? Or is it a value added service of some type? All in all, I argue that all prices are fair considering all things, even if you can’t identify “all things. I found the exact same TV at Costco and Sam’s club. It was about $100 higher at Costco than Sam’s club. But on closer examination, Sam’s club offers a shorter warranty and sells extended warranties. Costco’s model included a longer warranty and did not offer an extended warranty. When you consider the real differences, then the products were actually both priced well. This is so common out there.
Services are even harder to evaluate in this regard. One dry cleaners may charge more than others. Do they work harder? Pay more attention? Use better chemicals or equipment? It can be hard to determine why one company is better than another. Maybe one company is just greedier. This same challenge applies to many professionals out there as well. With my own company and industry, how do you know what is a good deal or not? If you go by price alone, you’ll likely regret your purchase. If you go by features and services alone, are you at risk of buying something you don’t need and, therefore, spend more than you want to?
The real challenge to businesses is to define these distinctions for their potential customers. With my own company, we use the tag line, “We Turn Web Sites Into Web Businesses”. This is supposed to suggest that there is a difference and we are here for the clients that are more concerned with expanding their business online. Our objective is for potential clients to realize that we will probably not have rock-bottom prices, but we will have expertise that makes a bigger difference in end.
The challenge of service companies as well as product companies is to stand out for having the right benefits with a fair price. However, most companies just price competitively and never distinguish themselves in the market. Whether you are the very best, the fastest, the cheapest, or whatever makes you special, your customers need to know it and your potential customers need to as well. What are you really good at? What would customers say about you and why they do business with you?
Getting this message across online is harder than you may realize. Google ranks sites on keywords, not on business values. People tend to shop by price when they are unaware of the other values to consider. Creating an online message that distinguishes you from the competition is absolutely critical. Let’s do that for your company. Call us today.
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