Price is just one of the many variables that persons take into consideration when purchasing goods and services. Notwithstanding it is the only factor many business owners consider when they are assessing the competition or seeking to improve their own competitiveness.

Price is indeed an important factor, but when you are the minnow among the big fish sometimes you can’t beat the big boys on prices, other times you may just be unable to lower your profit margin. Whatever the rationale do not despair, there is much more to a sale besides prices, follow these seven (7) simple suggestions and discover ways you can increase your businesses competitiveness without lowering your prices.

Honing your competitive edge

1. Reduce barriers to purchase
Provide your customers with payment options, payment plans or even (24/7) purchasing online. Tip# In lieu of credit cards you could accept payments at paymaster or bill express.

2. Inform
Provide adequate information to allow your potential customer to make up their mind. Also provide information on how they can maximize usage of your product or services. Example; if you are selling food, giveaway recipes.

3. Be innovative
Provide solutions to your customer’s problems. Example; as a bakery you might want to sell half loafs, for single persons who never finish an entire loaf before it goes bad.

4. Provide add-on services
Free delivery, free installation, and free tech support. Chances are if you installed it you have the opportunity to maintain it.

5. Have a marketing and communication strategy in place
Many small business owners see marketing as suitable only for the big boys, not so. Having a small or none existent marketing budget is no reason to not have a marketing campaign. View some $0 marketing techniques here

6. Listen
To your customers, listen to the things that make them happy and do those things better, listen to what annoys them and reduce those annoyances.

7. Blow your own trumpet
What’s the point of offering a superior experience if John public doesn’t know that you do? Talk about it every chance you get…loudly. And then be prepared to back it up!