Are you tired of attracting too many price-sensitive enquiries? If so, you’re not alone. This simple to fix issue is one of the most common in marketing.
Simple to fix?
We know exactly why it happens and how to fix it. Here’s what you need to know, along with 10 examples to get you started.
Here’s why it happens
When competing products or services seem similar, price becomes the obvious way to determine value. As such, there’s little, if any, motivation for someone to pay more. In this common scenario, the lowest price looks like the best deal.
Sure, they “may” go for the 2nd or 3rd lowest price, hoping to insulate themselves from scammers or super-low quality goods or services. The key thing is that at this point, they’re price shopping. And you’re now competing on price.
Here’s how to fix it
A proven way to totally overcome this problem, is through something I call radical value.
Radical value is when you take what the marketplace expects from someone in your industry, and then radically improve upon it.
By default, anything with radical value has to be radically different. This places you in a unique position. A position, where you’re no longer competing on price, because your offering has no comparative competition!
What might this look like?
A business owner using the radical value approach may offer her marketplace:
- A service that comes with a 125% money-back guarantee.
- A product that’s provably safer than anything in it’s category.
- A product that’s 50% lighter than the industry leader.
- A service that’s designed from the ground up, around the unique needs of each client.
- A product that’s the only one in its class, to be made from 100% renewable sources.
- A product that’s part of a numbered, limited edition.
- A service that’s 3 times faster than the industry leader.
- A product that’s far longer lasting than anything in its niche.
- A service that’s massively more extensive than anything else available to your marketplace.
- A product that’s clearly the most energy efficient in its class.
Those ideas are just food for thought. They’re simply examples, to demonstrate the kind of meaningful difference, which represents radical value.
Be sure to invest the time and effort required, to create something that’s truly radical and truly valuable. Marginal improvements have marginal impact. They won’t elevate your offering to the point where you have no comparative competition.
So let your creativity run wild. And aim for maximum impact.