“In the new business game, the winners are not the best but those who master the game,” says Argentine marketing expert Roberto Serra, and his phrase perfectly captures the question many ask themselves: “If my product or service is the best on the market, why do they choose the bad one?”
Knowing for sure what influences purchasing decisions can be interesting and diverse, as well as a real challenge for marketing experts and enthusiasts. Therefore, it is necessary to emphasize that there are no fixed rules, and everything will depend on various factors that together determine the preference of the public.
If you have spent a few minutes of your busy day observing how your colleagues interact with a client, analyzing the criteria they use to establish the value of your product/service compared to the competition, or conducting a brief survey on brand recall, then you may find some answers to clarify your situation.
Knowing that your product is attractive, in these times when competition is fierce, is no longer enough. Therefore, carefully review these causes that contribute to the growth of your competition, which may not always be the best, above your brand.
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Communication and public relations strategy.
Every company aspires to the success of major brands. And these 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, there is a communication team or agency carrying out creative strategies to attract more customers.
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Brand reputation.
“A known bad one is better than a good one to know,” says the saying. And evidently, it is not wrong because often that brand that is not perceived as the best but has been in the market for many years and fulfills its objective is chosen by the public that slips through your fingers every month.
To counteract this situation, manage your brand reputation continuously, get closer to your customers and potential customers, use social networks to engage with them and get to know them. Remember that everything that happens in the offline world affects the online realm 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 immediately without considering that cheap can be expensive in the long run. It is not advisable to jeopardize your profitability in exchange for very little. Effectively communicate your qualities and based on that, establish a fair price range. Offer discounts during special seasons or use social networks to hold giveaways or quizzes.
- Customer service.
In business, attitude is everything. Spend time with your employees and evaluate their performance when interacting with a customer or prospect. Good treatment, courtesy, and quick conflict resolution may be the area of opportunity that needs strengthening.
Customers appreciate quality and warmth and are willing to pay a little more for better service. Do not hesitate, create a space through training or workshops to improve the skills of your sales team. With a small investment, you will help achieve that top spot you desire in your customers’ recall.
- Diversity.
Observe your product offerings. If your product line is limited and focused, your marketing efforts should follow suit. As your business grows, you can expand your product line, as long as you keep the new products compatible with the type of business, location, and market.
- Loss of service.
A product can last many days on the shelf because if it doesn’t sell today, it will sell tomorrow. However, the service that we didn’t sell today will never be recovered. If your telephone helpline is always busy or it is simply impossible to get in touch with 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 great growth opportunities for your company. Sales occur from one moment to another, and you have to be alert and willing to close them, because if one is lost, your competition will thank you.