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Compete on Experience, Not Price

Wednesday, January 30th, 2013

A recent article from Inc.com, “5 Ways Small Retailers Can Compete (& Win),” describes strategies for small businesses to even the playing field with the big guys. And while this advice is geared toward small retailers, the recommendations certainly hold value for retail and service providers of all sizes. Peter Gasca, a small business owner himself, emphasizes the importance of being “aggressive and smart” and differentiating yourself via the customer experience.

1.Provide Incentive. Impress customers with superior friendliness and customer service. Allow them to sample products and offer perks that other businesses won’t.

2.Offer value. Adding value is always better than lowering price. Added value can come from providing an unmatched customer experience, offering occasional freebies, and delivering special deals to loyal customers.

3. Differentiate Products. This is where it pays to get aggressive. Separate yourself from the competition by introducing products and services that they don’t have. If you’re concerned about the risk, try a test run or perform some simple market research.

4. Get online. In today’s world, everyone needs a strong online presence. Use search optimization tactics to help customers find you before the competition and reel them in with aggressive offers for first-time customers.

5. Go Social. Most people today understand the value of social media marketing, but the real benefit comes from extending the “community” of your business outside of the physical structure and making your business feel like a bigger part of their lives than just somewhere they go to tan. Posting regular, engaging content on a blog is a great place to start.

Click here to read the entire article from Inc.com.


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