How to charge more than your competition
Whenever you talk about Whole Foods or Starbucks the most common topic is how they overcharge their products or how whatever they are selling is not the best out there but still, people somehow pay twice or thrice for them.
But imagine a chilly morning when you are out for a walk and it’s been a while. You think “Man, I’d really love a hot cup of coffee,” Luckily just around the corner, there are two cafes one is offering coffee for just $0.99 but doesn’t look too cozy whereas the other café looks great, have comfortable seating, but asks for $2 for coffee. Which one will you choose?
That’s what Starbucks did. Similarly, try asking anyone working at Wholefoods where a particular product is shelved? They won’t tell you the aisle, they won’t give you the directions but, they will take you there.
Customer experience is the most important factor for the customer to decide whether the price being asked is fair or not.
And for a business customer happiness is the most important thing. When it comes to customer retention, Nothing works better, nor discounts, nor marketing campaigns, nothing.
Also, the benefits go beyond those first customers too, happy customers tell an average of nine people about their experience, and right there you have a free of cost marketing campaign
The better customer service is a value addition to your offerings which will bring in customers again and again willing to pay more
Few Ways to deliver the best Customer Experience
Compete on customer service
The best product or service alone cannot entitle you for the best customer experience, your customers are not only looking for what’s everyone’s selling but for more. For that you need to back your product or service up with a good customer service and make it a complete experience. Whenever your customer run into an issue its important you support them as through that you will understand how to build trust and your customer will know that you will take care of them.
Expand your service beyond business hours
This again is about trust. If you are available to your customers all the time they will know that they can rely on you. Be there to solve their issues and make them feel connected. While doing this, you might stumble upon a possibility of not just improving your service but expanding them as well which will always translate into better sales.
Build your customer relations with a personal touch
Whenever you have a valued customer surprise them through a personalized message or a personalized offer. This shows goodwill and takes your customer relationship to another level. Few days back my wife ordered a bag. The delivery got delayed for some reason. But when the bag arrived it came along with a handwritten note signed by CEO of the company. That changed a bad experience into something good. Now that brand is being recommended by my wife to anyone who will hear.
Study your customer group well
If you pay enough attention to your customers and their behavior patterns you will understand their needs better than them and will be able to offer more and more services. This also increases customer engagement time which will, in turn, improve your brand value. Customers have a set of attributes tied up with them, for example, someone who comes into a clothing store to buy running shorts might be a sports fan. Giving the running shorts section a sporty feel will improve the buying experience by building a deeper connection with the customer.
Make it easy for them
Doing their work for them is the best way to improve your customer service. Do they need to find your product? Take them there. Do they need to figure out what they need? Help them with that. Try to find more and more ways where you can help your customer and they will develop affinity towards your service.
Once they know they can come to you without too much thought or preparation they will start coming in more often.
Care for your customers…. The most.
Empathy is your best tool out there while managing of your customer’s experience.
We all have a particular shoemaker or a particular brand of clothing we like the most think for a min what is the reason for that in most cases you will conclude that they have provided you with some experience which made you feel that they are the best you can have. That’s what you need to aim for being the best care for our customers.
Earn the right to charge more
Selling your services or products on a lower price is never a good strategy as the competition can always drop their prices lower than yours and then you will again be looking for a different USP.
At times even having the best product won’t make you a market leader because, we don’t live in a perfect world. Competing on quality is a worthy goal but you need to provide the best experience of which the best product is only a part, as no matter how good your product or service is, at some or the other point it will have some issues and when that happens you need to be there with customer services to make it a complete and pleasant experience.
If you want to truly stand out make sure that people love the way of your business and everything about it. Customer tends to give it a lot of thought and everyone wants to be associated with good, caring & empathetic people. If you are the one with the best understanding of your customers they will gladly pay more for your services.