You Won’t Make It Competing on Price

Build a Competitive Advantage on Great Customer Experience!

The majority of small businesses we have seen compete on price because they do not know how to compete using competitive advantages like Customer Experience.

Research shows that where customers have a choice between similar products and prices, 70% of customers base their purchase decision on how they are treated!

All the business plans, promotional and advertising campaigns, sales/marketing initiatives won’t make any difference if poor customer experience is driving away customers (because they are not getting what they want or getting it the way they want it). 

You will be stuck with competing on price, paying a high cost to attract new customers that will likely be 'low value' customers looking to pay the lowest possible price for your service.

You can quickly develop a real competitive advantage through providing a great customer experience. 

Customer retention and loyalty will rise, customer numbers will rise, revenue and profit per customer will increase, staff will be more motivated and the you will be freed to work on developing the business further.

To achieve this, you will need to become customer-driven and see things through the eyes of the customer. 

You must know what customers want from you and how they want it. Surveys and feedback systems are the best way of getting this information.

Then you use this information, to devise and implement systems and processes to make it all happen.  You train your staff in these processes and empower them to satisfy customers by ensuring customers receive the experience they require.

By competing on customer experience, not only do you protect your profit margins but you create more than mere 'customers', your create loyal brand advocates.

1 comment:

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