In today’s digital world, consumers want to shop quickly and get the best price from the comfort of their devices. You need to be able to show them that your prices are the best in your market or you may never get the sale. So use the following strategies to ensure that your prospects understand exactly why you’re the lowest price:
Understand Your Audience
Before anything else, the first thing you need to do be the lowest price is define what “lowest price” means. Does it mean the lowest down payment, monthly payment, interest rate, deductible, or long-term cost? Depending on how you define it, you could either be the highest price or the lowest.
If your target consumer often has a lot of free disposable income but they are smart investors, they may wish to know how you are the cheapest in the long run. If, on the other hand, your market has issues with their finances and low cash flow then you should point out how you are the cheapest in terms of up front costs. So before you jump into other methods, make sure you know what your metrics are and let that guide your decision making.
People process information visually. If you really want to get through to consumers, show them and don’t just tell them. Use infographics, charts, and even video content to display your message as to why your prices are the best around.
Point Out Your Advantages
Once someone hits your website, you need to focus on all the benefits of your product as a whole. After all, the cheapest price is really all about what is the best value. If you have a higher price point than your competitor but feature many more benefits for that price, then it could still be positioned as the lowest price when overall value is taken into account.
Point Out Your Competitors’ Negatives
Your consumer is going to be shopping around and looking at different options before they make their final decision. Therefore, the competitors are going to be pointing out all of the positive parts of their offer just like you.
But if you truly care about your customer and want to show them how your prices are unbeatable, you need to inform them how your competitors are not as good as they say they are. For instance, do they have hidden fees? A higher commission rate? A higher profit? Anything that can be used as leverage in your marketing can help you make the case about your price.
Price Comparison Tools
If you want to show consumers that your prices are unbeatable, then one of the best things you can use is a price comparison tool. This is a piece of software built right into your company’s website that lets consumers price shop right there in real time. When they are an auto insurance quotes comparison for example, you can instantly display different competitors’ prices side by side.
This lets the consumer get the information they were searching for without going to someone else’s website. That way you can control the messaging by keeping them on your site and focusing on how you are a better fit. This is much more powerful than if they have to spend hours more shopping at different sites. It reduces the risk that they will trust another provider over you. It also increases their confidence in your brand and the likelihood that they will buy from you.
When it comes to consumers today, they are looking at different competitors every day. With a few clicks, they can access information about quotes and prices like never before. That is why it is essential that you understand how to properly show them why you are the best deal in your industry. Otherwise, you could miss chances to close more sales. So implement the tricks above and enjoy more success going forward.
by: Mark Palmer