Differentiate you and your Value from the Price

Value does not mean low price – Low price does not mean Value.

As the news is filled with stories of the rise in the cost of living, especially with Energy and Petrol, the focus is now on cutting costs. But, does this mean always looking for the cheapest alternative.

Just recently, running our own SME, these self same questions came up – do we change to a cheaper provider for a key product, with perhaps a reduction in the level of service or stay with the current supplier that we know gives us what we need. This comes down to the same issues that your customers will face with your business.

In this case we looked at the amount of our time we would spend if there is a problem, on potentially poorly manned chat windows or waiting for technical support to come back to us, against the current supplier and, the price advantage on offer, just did not outweigh our additional cost in coding time.

The same can be applied to many items that we purchase daily or use regularly. How many times have you been in a car, when the driver will spend 30 minutes driving around looking for a lower cost parking area or a “hen’s tooth” free parking space, when you quietly point out that the £1.00 they have saved has been completely over shadowed by the £5.00 of fuel and time they have spent.

So how can you apply this to your business.

It seems that a lot of companies look to their prices and move them all down to maintain turnover but, as a mentor of mine once said “Turnover is vanity – Profit is Sanity” which can be coupled to the idea that, what we actually need to do is remind our customers of the value we offer. After-sales and ongoing support and a helpful sounding board for ideas, no matter what your market. These are things that you are doing right now probably without even thinking about it, that are of a massive benefit and therefore a value to your customers.

You might say “well this is nothing new” and you would be right, but it is definitely worthwhile reminding ourselves as small businesses that this is what we can and do offer against the big players in our respective markets.

Creatively Yours…

Creatively Yours Ltd helps businesses like yours succeed online through website design, website development, and our Helponomics system that offers support and training as you need it and highlights areas that could increase your sales.

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Then why not drop us a line to helping@creatively-yours.co.uk, or simply call us on 01536 23 98 98 or 01493 718 300

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