When you have money to spend, there are lots of people with the perfect solution to that problem. Unfortunately, it seems as though the standard practice for many businesses is “over-promise, under-deliver.” While that might not work in the long run, some companies simply don’t care. They count on the difficulty in switching over to another new system/product, the frustration of retraining employees on its use, and the financial strain of incurring the costs of yet another change.
Let’s use an example. You’re a contractor giving a quote for a customer’s housing repair. Your competitor gives a great presentation, promising to do a better job at a lower cost, and gets the job. You both know that the job won’t actually be performed to those standards, but the customer doesn’t until it’s too late. They discover the poor quality over time once the job has long been finished. That contractor gets paid and you don’t.
How do you combat this kind of competition in the short-term? Complaining about your competitors to your customers makes you seem weak, crying over spilt milk. Negative reviews can add up, but those take time. Lowering your prices puts your profits and thus your business at risk. So—what’s the answer?
We live, work, and breathe in a world fueled by technology. Use the resources at your fingertips to help you close the sale over your competition—the ethical way.
Let’s take the previous example. Encourage potential customers to look up all of the businesses they are considering. Offer some testimonials from previous happy customers. Use social media to find referral links from mutual friends or customers, especially if you’re local. Basically, do everything you can to help the customer figure out that you’re the better choice on their own.