If you have great prices, that is awesome, but is that what you want to be known for? Many businesses that I have consulted for, boasted their low prices but hated the fact that customers would only purchase products on discount. Those businesses failed to sell products at a reasonable margin and often could not afford other expenses including employees, marketing, and general operational expenses. It’s great that your customers love your low prices, and you have a significant amount of customers, but if your customers are the only ones winning, then that is not good for your business.
Most customers – the ones you want – look at your product or service as an investment. That’s a very different mindset from that of customers who simply want to buy a product at the lowest cost possible. It is your responsibility to make your OVERALL value the focus of your business and not just your low prices. You may lose customers in the process, but you can help your business and life become sustainable. It’s time that you focus on having high-quality customers rather than a high-quantity of customers.
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Dr. Elijah Clark (September 16, 2022). Are you selling too cheap? [Web log post]. Retrieved from https://elijahclark.com/lesson-112/