When Less Isn't More

This week I've been approached by 4 separate media representatives looking to have our clients choose them for their advertising. Each of them focused on the affordability of their services / products over 'the other guy'.

None of them earned our business.

Don't get me wrong, I like a good deal just like the rest of you, but in business it needs to be about more than price.

Let's take your business for example. If you focused solely on price, that becomes the only factor when it comes to closing the sale. By neglecting to speak to the value and benefits of your product or service, you've now pushed yourself into a corner where your only move is to lower the price. If, however, you explained why your product / service will exceed the needs and expectations of your customer - you've set yourself up to hold gross. You've established a reason for your price point. 

When someone approaches you with the cheapest option, it could very well be the right path for your business. The key is ensuring that it's a fit for what you're trying to achieve. If it is, you've got a winner. If not, it may be worth spending more. To be honest, if I knew that spending more would attract a more qualified consumer for my business, that's money well spent!

Your advertising dollars need to go towards attracting, not just ANY people, but rather the RIGHT people for your business. You need to know if the demo the sales rep is pitching matches the consumer you're trying to get in front of. Just as you need to explain the benefits of your product or service to the customer, you too must be aware of the benefits that your choice of advertising and marketing will bring. This includes those "#1 options" as well. Just because a rep claims that their product or service is "number 1" doesn't mean it is targeting the person you've defined as your number 1 consumer.

Affordability can be hard to resist, but do yourself a favor and consider if it is a good match for who you would like to see in your business and whether or not the brand they've pitched matches the brand you've established. Know that the people you are dealing with truly understand you, your business and your customer.

Your reputation and the effectiveness of your investment could be at stake.

Rudy Parachoniak specializes in developing effective and affordable marketing solutions for businesses. As a radio talent, programmer, marketer, small business owner and content creator, he works with small business owners to identify the best options for their marketing based on their specific needs while working within the budget that they are most comfortable with.

Rudy is always on the lookout for new and exciting opportunities that match both his passion and purpose. Feel free to reach out to Rudy anytime to discuss how he could be a great fit for your team or business (or just to connect and shoot the breeze).