Great post on Forbes.com today from Robert Passikoff, speaking to the proliferation of Web sites, apps and social networks that enable consumers to buy stuff at a deep discount.
Passikoff admonishes marketers not to allow the lure of a quick bump in sales to distract from the perceived value only a good brand can offer:
“Yes, everybody is delighted with a deal—or they were. But given the current state of consumer knowledge of the marketplace and access to information not controlled by the brand, what used to be ‘delight’ has turned to ‘expectation’.”
My former client, hotel magnate John Q. Hammons, used to say, “the only person who ever got rich selling on price was Sam Walton.” And he was right.
When the only feature you have to sell is the fact that you’re cheaper than the other guy, you’re always susceptible to someone else undercutting you by a dollar and taking your customers away.
What are you doing today to win the hearts and minds of consumers, whose choices, access to information and access to discounts is greater than ever?
What tangible and intangible benefits are unique to your product or service?
Meanwhile Back at the Ranch is written by Bill Patterson, president of Kansas City, Mo.-based Nation Ranch, a strategic consulting firm specializing in brand management, public relations and crisis communications.
