If your company thinks it needs to compete on price. Think again.
Too many times I see how many companies, big and small, think the only way to compete is on price.
The only thing is?
That's not at all true. And that's also, not at all, always a good thing.
So how do you change that?
A few ways.
In a recent book, I had read called, "Disrupt You" Jay Samit, the author had said something vital to businesses today. He said:
"You either have to be the best at what you do. Or the only one doing it."
If you can develop new and innovative products and services that you can't find anywhere else, then you can charge more for it.
Ever heard of the brand, All Saints?
To my knowledge, no one, as of right now, have I personally seen compete with them.
Of course, there are other clothing lines out there. But they have their own unique style and brand that is constantly coming out with new styles. Always on the cutting edge. And always charging A LOT more than most retailers for it.
They know what they bring to the table.
They know you can't get what they provide anywhere else -- for the kind of quality and attention to detail they provide.
Save time and improve the process and you can charge more for it.
Time is probably one of the most valuable traits you can save someone -- as well as improving the process (which is also a timesaver).
And nowhere is it more apparent than in a company like Uber.
A company created to help save us from the hassle of hailing a taxi that you can't track on your phone down to the minute one gets there. Drastically improving the car sharing process, more than anyone has.
So, save us time or improve the process (by taking away any friction points) to show us a better, more reliable way of doing things, and you got our service. One that most, would gladly pay additionally for -- if it's done (and positioned) right.
Pay us special attention, and you can charge more for it.
A few years ago I had moved from shopping at the Gap to shopping at Nordstrom -- giving a heads up to the lady we use to buy our clothes and text ahead a few minutes before arriving on what I'd like to possibly see (and buy).
Like TRULY amazing (or what they call an All-Star) at what she does. And can't thank her enough for her time and guidance as to what I know I'll like and what I know I won't like.
However, before that, I would walk into the Gap and have zero help as to what does/doesn't look good on me. What does/doesn't fit right. And what is/isn't a waste of my money.
So much so, that I haven't shopped at the Gap in years.
They don't give me the kind of time or attention that I need, in order to get the things that I would like to get. As well as not get.
And so, I wind up gladly paying more for the help. To have a smaller number of things I love, and pay more for, that last. Versus getting more, for less, that doesn't.
So that's just a few ways your company DOES NOT have to compete on price.
The other way?
To never change or try new, innovative ways to stand out from the noise. And unknowingly, wind up just adding to it.
About the author.
Since 2008, Jared Kessler has worked with some of the most highly-recognized firms and brands, to grow their sales with words and copy. Including Hewlett Packard, Hyatt, T-Mobile, Ben Bridge, Microsoft and more than a dozen others.
He started Jared Kessler Creative to provide a better, more strategic approach for growing these same kinds of businesses and brands. But in a different, more personalized way.
Please visit jaredkesslercreative.com for more information. And see what a 10-year proven track record will do for you OVER your competition.