Small businesses often struggle to attract high-quality prospects. They also attract too many price-sensitive enquiries. Are either of those happening to you? If so, it’s a relatively easy issue to fix.
Easy to fix?
Yes. 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.
Let’s go!
Here’s why the problem 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 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. Including 10 examples
A proven way to totally overcome this problem, is through developing something I call meaningful value.
Meaningful value is when you take what your industry normally delivers and improve it so dramatically that comparison becomes impossible.
By default, any product or service with meaningful value has to be radically different from what’s expected. That’s what gives it meaning and elevates it from being average. This automatically places you in a unique position.
A position, where everyone is talking about your products or services.
A position where a growing number of people know the name of your business and what your business stands for.
A position, where you’re no longer competing on price, because what you provide has no serious competition!
Here are 10 examples to get you started.
- A service that comes with a 125% money-back guarantee.
- A product that’s provably safer than anything in its 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 examples to demonstrate the ‘base line’ required, for your products or services to stand out as being of meaningfully more value, than your marketplace expects.
So, invest the time required to create something special. Marginal improvements have marginal impact. They won’t improve your offering to the point where you have no real competition.
Go big. Aim for maximum impact. Make comparison impossible.
Photo by Robert Katzki on Unsplash
IMPORTANT: If you want to make more sales, boost your profits and grow an amazing business, this will help you!