<p>So you're in business because you enjoy what you do and you like to make money, right? Right. Hopefully we all are.</p> <p>When conducting your market research as a start-up business you want to get a feel for what your local competition charges for the items or service that you plan on offering and then alter your pricing or include 'value added' services that make your price appealing to your customers.</p> <p>I've provided a list of tips to bring extra value to your product or service that will hopefully help you spark ideas to keep you competitive without slashing your profit!</p> <p><span style="font-size: 9pt;"><strong>Tip #1:</strong> <strong>Distinguish between what you are selling and what your customer needs.</strong> Let's pretend you sell insurance. Your long-time customer Jim simply wants good auto coverage and low prices. Easy right? You might want to show your Jim the <strong>value added</strong> by picking up additional types of insurance (home owners, life) to lower his premium. He can sleep easier knowing he is covered, saved money and you made an additonal sale!</span></p> <p><span style="font-size: 9pt;"><strong>Tip #2: Free! Free! Free! </strong>Did we say free? When Jim stops in to talk over his insurance options with you, offer him a cup of coffee and bring him into your office. Take the time and show him what he is saving and explain it well. As Jim leaves, offer him a refill or perhaps a copy of next year's calendar (with your company name on it) as a way of saying thank you.</span></p> <p><span style="font-size: 9pt;"><strong>Tip #3: Customer Service Goes a Long Way!</strong> Some things never change. When you establish a great personal relationship with your customers and really get to know them as people (and not just clients) you build a trust. When Jim hears that Sandy is having trouble with her insurance company after an accident - he will refer Sandy to you. You've always taken good care of him and really care about your customers. Sandy will come in to visit you ... and see #2.</span></p> <p><span style="font-size: 9pt;"><strong>Tip #4: Get Involved in a Local Charity.</strong> People love feeling good about themselves. Everybody needs auto insurance - so why not donate 3% of every sale to a local charity so that people can know that they're supporting a worthwhile cause while still keeping up with required coverage. It makes your company look good. It makes Jim and Sandy feel good and we promise, you'll feel good too!</span></p> <p><span style="font-size: 9pt;"><strong>Tip #5: Help Build Community.</strong> Your business should be part of your local Chamber of Commerce. Other small business owners need insurance. Make it a point to attend a meeting once a month and volunteer a little time helping in your community. The networking is priceless, you'll be representing &amp; promoting your company and Jim and Sandy will be happy they saw you for lunch ... and on a Tuesday!</span></p> <p><span>These are just some simple things you can do to let your customers know that you are the right choice, the right price and the best option for them. Take time to cater to your customer and when you see Jim and Sandy next, let them know we said hello!</span></p> 2009-06-25T19:02:14Z -6.1664 196 5203 true 3 31739 be-competitive-not-cheap 1 2009-06-27T07:00:49Z 2009-06-27T12:39:48Z

Always Low Prices! Our prices are insane! There is a fine line between competitive pricing and being too low, here are some tips about understanding your market and your competition.

1 2009-06-27T12:39:48Z