It is a common misconception that customers will always choose the cheapest option. Of course, it does depend on what they are buying and sometimes they will opt for a lower price. But it is not always the case. There are other reasons that people will buy from you, even if you are more expensive than your rivals.
Your Website Is More User-Friendly
Consumers do not like complicated websites. If your site is simple to navigate and make payments on, they will use it rather than one that involves them in hassle. They would rather pay a bit more for the convenience a user-friendly website gives them, and your competitors could well lose customers to you because of this.
You Stick To Your Promises
What consumers do not like is to pay for a product and be told it will arrive in three days and then it does not turn up for three weeks. They will not consider that it could be the fault of the delivery company and not the website they have purchased from. Make sure that you use a reliable delivery service that will get the goods there well within the time scale you have promised.
Consumers expect to pay more for goods that are made from superior materials, and they will be prepared to pay the extra if it is a product they are after. Spending a little more on things like linear electric motors and high-end components, so that you can produce higher quality goods, for example, is then well worth it because you will be able to offer your customers a higher-end option that is more reliable and desirable. This will enable you to make more money in the long-run.
Your Product Is Unique
If your product is unique, perhaps because of a feature that similar products do not have, consumers will be happy to pay for that extra feature if it is something that will make using the product simpler.
With so many online businesses failing within 12 months of starting, it should be no surprise that sometimes consumers are concerned about who they are buying from. If your business has a reputation for being fair and reliable and has been around for more than a few months, they would rather pay you a little extra for the same goods they can buy cheaper elsewhere and be sure that they will get them.
They Do Not Worry About Prices
Most people lives are so busy they do not have the time to spend searching through several sites to find the cheapest. If you have what they are after and it is not outlandishly overpriced, they will buy from you rather than have the hassle of spending the time trying to save a small amount of money.
They Like To Buy From Friends
Social media friends are not real friends like the mates you enjoy a night out with. However, when it comes to purchasing something, if they are a friend of yours on social media, they would rather buy from you than from someone they consider to be a complete stranger. This is just one of the reasons that social media is such a powerful marketing tool, and it is well worth cultivating as many friends as you can.
This is a collaborative post.