So if you're striving for anything, it should be those instances when you can establish a unique brand connection with your target audience. That's where sustainable success resides for your business. But be cautious of the trap: Retention beats Price War, every time.
Businesses in many categories believe they need to battle on price. What they truly need is a unique connection with the audience. Here's the dilemma: - When you compete on price, it's a race to the bottom. Almost every business will try to undercut you. - When you compete on price, your unique offering becomes irrelevant and your messaging confused. - When you compete on price, you become a commodity, which is an unwinnable strategy. Besides the brief satisfaction of making a short-term sale (which is okay), don't think you're securing long-term customer loyalty from it. Price wars are overrated. They don't necessarily mean customer retention. Connection and subsequent retention happen when the right customers resonate with your brand... ...and then they choose you even when they have other options. What do you suppose that's worth? So if you're striving for anything, it should be those instances when you can establish a unique brand connection with your target audience. That's where sustainable success resides for your business. But be cautious of the trap: Retention beats Price War, every time. Decide on the most important messages to share and then find THE MOST INTERESTING way to deliver them to compel potential customers into action. #marketing #founders #CMO Digital Surgeons
