The Personality Prescription, Part 2 – Never Cut Price
Dropping price to be competitive means we’re only working harder to put ourselves out of business sooner.
Dropping price to be competitive means we’re only working harder to put ourselves out of business sooner.
If the epic failure, Groupon, taught us anything, it was that there is no value in attracting a bunch of cheap customers.
Many companies use loyalty programs, Facebook groups, and email spam to gather the troops. That’s not a tribe. It’s list building.
Normally, when a business falls short, customers are merely disappointed or frustrated. Not so with relational customers and businesses to which they’ve bonded.
The real trick is to learn how to read between the lines and ascertain the root objection.
“We will match the price of our competitors on any similar product.” With one sentence, he converted us from relational buyers to transactional ones.