Being in the marketing business, I notice a lot of ads. But a few years ago, one commercial made itself particularity memorable.
The commercial tells the story of Dave, a barber shop owner in small town USA. Dave has been in business for years and charges $25 per haircut. One day, a competing chain opens a trendy new salon across the street. Their grand opening sign screams in big letters:
Now Dave is faced with two options. Adjust his price, or keep his rate of $25. In a wise move, the barber buys a large sign and hangs it outside his shop. The sign simply reads:
Soon after, the competition closes their doors for good. And we applaud Dave's for sticking to his guns. But why did Dave's sign work? Let's take a closer look at our barber-shop hero's strategy. Dave: Changed the game. Recognized his worth. Positioned his brand.
If you're facing a similar situation as Dave, my encouragement to you is this:
Change the game- Stop competing on the other guy's terms. There is always going to be someone willing to do the same job for a lower price. And while change is a part of growth, don't compromise quality for the sake of the sale.
Recognize your worth- Figure out what sets you apart from competition and do it well. Value what your customers value and they will go where the value is.
Position your brand- Your marketing should always be supporting who you are and what you're about. Start with a solid marketing strategy that clearly communicates your value to your ideal customer . Don't keep it a secret. Make yourself easy to find, especially online.
When you consistently offer real value, your customers, and your bottom line, will thank you.
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