Page 346 - Duct Tape Marketing

330 Part VI: The Part of Tens

determine whether the product under consideration is worth the price
being asked. They weigh the price against their assessment of the qual-
ity, features, convenience, reliability, trustworthiness, guarantee of
excellence, and ongoing service they believe they can count on as part
of the deal.

Price becomes a bone of contention when the customer feels it exceeds
the value of the product under consideration. In that case, a marketer
has two options: Ask for less money, or offer more value. Because prices
can only go so low, and value can increase without limit, the best mar-
keters know that enhancing value is the best first plan of attack.

See Chapter 3 for more information.

9. Break down barriers.

Eliminate unnecessary expenses, unnecessary waits, unnecessary frus-
tration, and unnecessary inconvenience.

Eliminate management layers that contribute costs without value.
Eliminate service snags that cost time and try patience. Eliminate the
reasons behind recurring problems. Eliminate inconveniences that stand
between you and your customer. If your phone system is annoying,
replace it. If your Web site is slow or crashes frequently, rebuild it.

If getting to your business is inconvenient, take away the obstacles or
find a way to bring your business to your customer via mail, e-mail, e-
commerce, or personal delivery. Eliminate anything that erodes the
value for which your customer is willing to pay a premium.

10. Get continuously better at what you do best.

People demand fair price, product quality, and prompt service.

They consider a company a contender only if it offers all three, and they
make a company their first choice only if it excels at the attribute they
value most highly. But here’s the kicker: Customers expect a company to
get continuously better at what they count on it to do best. This makes
lowest price a pretty hard position to protect.

But if your business stands for the best quality, or the best service, you can —
and must — find ways to improve on that point of distinction year after year
after year.

When you do, your customers will reward you with positive word-of-mouth,
new business referrals, repeat purchases, and — the most valuable marketing
asset — their loyalty to your business.