Value Proposition: Stand Out From The Competition
The only way you can have a clear message is if you speak the same language as your customers.
The only way you can have a clear message is if you speak the same language as your customers.
The only advertising that gets customers immediately is through discounts. I’ve seen this picture before, and I don’t like the ending.
The answer is to get better at identifying and closing more sales of both Transactional Shoppers and Relational Buyers.
Price is the easiest to match. Competitors will drive you out of business using this strategy when they have more money than you.
Transactional shoppers illustrate lower average sales and closing ratios, and smaller profit margins.
Bribing a customer does not have the same effect as bribing a child. The campaign works, but the strategy fails.
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.
When we understand that objections come from 1 of 6 things that are missing, we are better equipped to fill the appropriate void. The trick is to read between the lines.
“We will match the price of our competitors on any similar product.” With one sentence, he converted us from relational buyers to transactional ones.