Are you still competing on price?
In a world where you can sell your house online for £99 or get your car serviced for £40, continuing to compete on price is, as marketing guru Seth Godin says, a race to the bottom!
I come across so many awesome business owners who worry that they won’t get any business if they raise their prices.
And yet, study after study shows that price is NOT the most important deciding factor when it comes to our purchasing decisions.
In fact, as much as 80% of our buying decision is emotional. We buy from people we connect with and are loyal to brands we trust.
Chanel don’t compete on price. Nor do Disney, Apple or Starbucks.
If your marketing is still about your pricing, special offers & latest discounts, you’ve missed the point.
What is solving that problem you solve worth to your client? What does it allow them to go on and do? What outcome are you helping them to achieve?
People do need a reason to buy from you. Make sure that reason is how you make them feel and what you help them do.