Low Price, High Value? Small Business Evolution
I read a John Ruskin quote that got me thinking: “There is scarcely anything in the world that some man cannot make a little worse, and sell a little more cheaply. The person who buys on price alone is this man’s lawful prey.”
I think the goal of any small business owner is to make their products a little BETTER and still a little CHEAPER to their customers. We talk of customer service being the central strategy for small business owners, and we think of that in terms of interaction with our customers: problem resolution, building a relationship, personal attention. However, when boiled down, customer service, serving the customers, can also be tied directly to the product: give them what they want at the best price. That! is what will get them to buy from you.
As we get more efficient in producing and delivering our products; as we hammer our suppliers for better pricing; as we get more niche focused, we will have savings to pass along on products that are ever improving. It’s a marketing evolution that will help a small business owner increase sales, market share, and happy customers.
