While the numbers certainly matter, especially the bottom line, focusing too much on the numbers can cause you to neglect the very thing that most affects those numbers, your customers. Taking care of your customers first and foremost will bleed over, and the numbers will follow.
Cost Is More than Just Money
Buying your product can cost your customers more than just the money that they spend. They will have some stress associated with the purchase. They will also have to spend their time making the decision to go through with the purchase. Depending on the product or service, time could be a major factor. After they get their purchase home, if it is a product rather than a service, they may have to take some time to figure out how to use it, and that could cost stress as well as time. Reducing these costs for your customers could make a slightly higher monetary cost worth it. If you can do it without raising the monetary cost, that is even better of course!
Competition Is More than Charging Less
You have to beat your competition at more than just price. Sometimes you can beat them even if your price is higher. Focus on quality, customer service, and convenience that competitors may not be offering. Then, if you can beat them on cost, too, do it.
Customer Satisfaction Is About More than Numbers
Customers want the best value, not the cheapest available. Value depends on so much, including quality and service, as well as price. If what you offer is better quality, and they get better service, they are going to be willing to pay a little more. Your job is to find the balance between making profit and keeping your customers satisfied. It can be tricky, but taking the time to figure it out will pay off more in the long-term than simply charging as much as you can for a little as you can get away with offering.
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