Have you ever thought how some small businesses flourish while others struggle during tough times without never lowering their prices?
All businesses need to price where they can make a good profit. Today’s customers are smart with the internet you can always find a cheaper alternative. Is the alternative as good or is your all round package better? You need to provide what the customer wants at amazing value not at a lower price!
I changed my mobile last week. Sure, I did my homework first on costs.The deals were very similar from store to store but one store went that bit extra to get my business. This store offered me additional value which none of the other stores did. They also did not try to sell as hard as the other stores. They showed they cared and made sure the phone was right for my needs. Did they lower the price? No, they gave me more value and back up for my money.
So are you going to lower your prices?
Just one question if you lower your prices,when will you stop? You then enter a race with everyone else lowering their prices!
Remember customers are smart. If they are a fee sensitive customer then he or she will just hunt down the cheapest deal anyway.
Increase your value and don’t lower your fees!
Photo by Evan Schiller