Is competing with low prices an option? Of course, it has been an ancient strategy (in fact, at this point, a very undifferentiated strategy). Do low prices attract customers? Without a doubt, the wrong customer (the one who is going to leave when another suicidal person lowers him even further), but of course it attracts people. Could it put the future of your business at risk? Don’t have the slightest doubt. The one percent of companies have the ability to offer low prices and make money because they have the economies of scale, the infrastructure, the supply chain, the technology, the investments, How to the customer base and many aspects that most likely (and without knowing your business), i dare say that you don’t have one.
Ideal target customer
Therefore, clearly define your and your value proposition to avoid getting into price wars that are not worth it and can put you out of the market. Competing on price is kind of suicidal because as you may have already experienced as a businessman executive data or seller, there is always someone willing to lower the price more than you. That’s why we’ve put so much emphasis on the importance of differentiation: build an argument relevant to the type of customer who recognizes that you are the best option, even if it costs a little more.
Offer surprising things
How to Differentiating yourself allows you to develop a different model, to customers, and have a proposition that truly matters (something that isn’t for everyone). Don’t forget, price is a relative perception of value. A price corresponds to a series of benefits. Every time EF Leads you are tempted to give in, to lower the price, especially at the end of the month when the payment has not arrived and you know that if you give that discount you will close the business, think twice. You are not building a future and without a doubt, you may be shooting yourself in the foot.