Are You Free Or Fantastic?

Have you noticed that, these days, your customers are more demanding? The recent economic challenges have caused us all to be more thoughtful and demanding when it comes to spending our hard-earned dollars. How do you compete when, more and more, people expect something for nothing?

As wonderful as the Internet can be, it is also the source of easy access to the lowest price option. In fact, "the low, low price of FREE" is becoming a common goal in the race towards commoditization. Bottom line: When there's nothing special/different/better about your product or service, why should anyone pay more for it than the cheapest source?

The only time it makes good business sense to offer something for free (or even at no profit) is if there is strategic value. Either 1. To entice your customer so they do business with you and you can sell them more items where you make your (ultimate) profit; or 2. to use it as a tool to gain exposure/awareness for future sales.

Otherwise, the "strategy of free" is, ultimately, a default strategy for going out of business.

The only other strategy is to be "fantastic". Designing your product or service so customers experience a "WOW" means you can charge (and they will pay) a premium. (At Disney, we used to call this "pixie dust" - you can do it too!) Not only do you get a buzz of publicity (happy customers tell everybody!), but you earn profit that actually keeps your business in business.

Wouldn't you prefer that scenario?

What does the "strategy of fantastic" require? Simply adding value at every touch point of your customer's experience. Exceed their expectation (by being different/better) every step of the way and they will come back - AND tell all their friends/family to do business with you too!

Think about it. But more importantly, do something about it...today!