While most companies focus on lowering the prices of their services and products, research shows you should put more effort into providing high quality products and services if you want to grow and keep your customer base. Many customers are willing to pay a little more for a product or a service, as long as they get high functionality and the product arrives quickly. Here are three reasons why you should focus on product improvement, instead of lowering the price.
1. Make sure your product is easy to purchase, by investing in good software solutions for business, including onsite software, and making your website as user-friendly as possible. People don’t like to have to search for purchasing and payment options, so if another site has a comparable product or service, and has a more user-friendly website, customers are likely to purchase from them.
2. Make sure you pay enough in shipping so that your product arrives as quickly as possible. People don’t like to see “ten to fifteen days” in the delivery box. Make sure it’s closer to “two to seven days,” and offer an option that is even shorter. This is a big part of customer service, and is one that you should make sure you spend time developing.
3. Put enough money into your product so that it has a unique, “must-have” feature. This not only pushes your product above your competitors’ products, but it makes your customers feel exclusive and wealthy. Even if the feature is one that you will only use a handful of times, spend time developing it, if it will really stand out.