New York Website Design Company, Lounge Lizard, shares 5 Reasons to Focus on Value over Price
NEW YORK, July 19, 2018 /PRNewswire-iReach/ -- Lounge Lizard is a New York Website Design company that is recognized within the web design and development industry for their amazing designs. Lounge Lizard's brandtenders are creative, tech-savvy, and passionate in developing innovative strategies that drive conversion for both startup and established clients of all industries, making them the "best of breed since 1998."
It is very difficult to compete in today's business world on price alone. While numerous big companies focus on providing the lowest price possible, for many companies that is simply not a sustainable business model. Rather than just telling people to buy your products or services it is much better to show them why they should. Today NY based web design company, Lounge Lizard, shares 5 Reasons to Focus on Value over Price.
- Perceived value is important. Countless businesses are much more valuable than they think; the problem is often in how you showcase that value. Price is not directly related to value. Unfortunately, some businesses think they can't compete simply because of the price difference between themselves and big chains, however the failure of many chains like ToysRUs should demonstrate the fault in that logic. The people behind the business are the ones which bring the value. The knowledge, the industry experience, the passion, and the hard work all combined can easily make up for slightly higher prices. But first you need to recognize your own value because then customers will see it too.
- The Buyer's Journey is about value. The Buyer's Journey is an important concept to understand. This is the process buyer's go through to become aware of, assess, and purchase any new product or service. The first aspect of the journey is becoming aware of a problem. When this occurs, there is often research performed to determine a solution. Many times, that research aspect is where the value approach will beat out a price approach because the value approach recognizes that people are important, their time is important, and their needs are important. By caring about customers and their needs and continually offering value with advice, insights, and even Q&A's you can overcome lower prices elsewhere because you bring more value to the table than just a single purchase.
- It isn't that hard. When you focus on value that means sending out newsletters to customers and potential customers with helpful tips and information. Your blog offers information and insights from an industry expert. You have FAQs and other data available to help people, offer suggestions, and the like. People might not even realize they need you until they do and then those relationships you have developed will put you firmly in their sites for a solution to their problem. It is like having a good mechanic who is always willing to chat about issues and then goes above and beyond during repairs by doing small things such as cleaning your headlights to keep you safe on the road. Building up that rapport really isn't that hard, but it wins you customers that are less concerned over the flat price because of total value received.
- Big companies use this approach as well. This isn't just a small or medium-sized business approach. Companies from Apple to TOMS have successfully used this approach. Are TOMS shoes the lowest price available? No, not at all. But what they are is a quality product with a very high level of perceived value because people who buy them enjoy that they are helping other people and they support the mission.
- It isn't that common of an approach. Most businesses focus on providing the lowest price. More than likely many, if not all, of your competition does this. By focusing on value over price you take yourself out of a race you most likely weren't winning and put yourself in a race you can win because hardly anyone else is in it. It is very hard to win a price war because that means you are constantly looking to cut costs with wages, benefits, production quality, etc. It is much easier to spend more effort on providing value to customers to win loyalty and long-term, repeat business.
Lounge Lizard Top Web Design Company is an award-winning, high-end design boutique specializing in website and mobile app development, UX/UI, branding, and marketing. Lounge Lizard excels in creating the ultimate brand strategy, fully loaded with expertly crafted visuals that work together to increase sales and effectively communicate a client's unique personality.
Media Contact: Ken Braun, Lounge Lizard, 631-581-1000, [email protected]
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