“In the new business game, the winners are not the best but those who master the game”, says the Argentine marketing expert Roberto Serra; and his phrase perfectly captures the question many ask: “If my product or service is the best on the market, why do they choose the bad one?
Knowing for certain what influences purchase decisions can be interesting and varied, as well as a real challenge for marketing experts and enthusiasts. It is therefore necessary to stress that there are no fixed rules, and that everything will depend on various factors that together determine the public’s preference.
If you have set aside a few minutes of your busy day to observe how your employees interact with a customer, to analyze the criteria they use to set the value of your product/service against the competition, or have run a brief survey on your brand’s recall, then you may find some answers to clear up your picture.
Knowing your product is attractive, in these times when competition is fierce, is no longer enough, so carefully go over these causes that make your competition, which is not always the best, grow above your brand.
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Communication and public relations strategy.
Every company yearns for the success of the big brands. And those companies would not have lasted over time without a solid communication and public relations strategy. Surely your competitor is on the rise and behind it is a communication team or agency carrying out creative strategies to attract more customers.
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Brand reputation.
“Better the devil you know than the devil you don’t”, says the saying. And it is certainly not wrong, since many times a brand that is not perceived as the best but has been on the market for many years and meets its goal is the one chosen by that audience that slips from your hands month after month.
To counter this situation, permanently manage your brand reputation, get closer to your customers and potential customers; use social media to engage with them and get to know them. Remember that everything that happens in the offline world affects the online sphere and vice versa. Strengthen your strategy in both directions to achieve your goals. -
Cost-benefit ratio.
Many consumers prioritize economy over the quality of a product and/or service, because they can solve a problem right away without considering that cheap turns out expensive. It is not advisable to endanger your profitability in exchange for getting very little. Communicate your qualities effectively and, based on that, set a fair price range. Offer discounts in special seasons or use social media to run giveaways or trivia.
- Customer service.
In business, attitude is everything. Spend some time with your employees and evaluate their performance when they interact with a customer or prospect. Good treatment, courtesy and speed in resolving conflicts may be the area of opportunity they need to strengthen.
Customers appreciate quality and warmth; and they are willing to pay a little more in exchange for better service. Don’t hesitate; create a space through training or coaching to improve your sales team’s skills. With a small investment, you will help reach that first place you want so much in your consumers’ recall.
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Diversity.
Look at your product offering. If your product line is limited and focused, your marketing efforts should go along the same lines. As your business grows you can expand your product line, as long as you keep the new products compatible with the type of business, its location and its market.
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The loss of service.
A product can last many days in the store, because if it doesn’t sell today, it will sell tomorrow. However, the service we didn’t sell today can never be recovered. If your call center is always busy or it is simply impossible to reach a representative of your company, the customer will not hesitate to look for another service provider.
It is time to analyze those aspects that can become a great growth opportunity for your company. Sales happen from one moment to the next; and you have to be alert and in the best disposition to close them, because if one is lost, your competition will thank you.
