We've all seen it. A customer who is ready to buy your product or service, but decides to go with your competition instead. You may be wondering why this happens and what you can do about it.
A lot of times, people will try to tell you that it's because they just "prefer" your competitor. But the truth is that there are other very real reasons why they choose them over you. Let's take a look at some of those reasons.
1. Lack of a clear value proposition — The fundamental reason why customers choose your competitors over you is because they don’t know what you do for them. They don’t know how you can help them solve their problems and make their lives easier.
2. Poor messaging — Your messaging doesn’t inspire confidence in your product or service, so customers don’t think highly of it enough to recommend it to others or purchase it themselves.
3. No proof that your product or service works — Customers want evidence that your product will work before they buy it, so offer free samples or trials so that they can see firsthand how well it works before buying.
4. Unfriendly customer service — People often stay away from companies because of bad customer service experiences they've had with them in the past. So if you want more customers, make sure all their questions are answered and problems are solved quickly and efficiently so there's no room for complaints in the future.
5. Poor pricing strategy — Pricing isn't just about charging what others charge; it's about knowing what value your product offers and charging accordingly — even if that means charging more than your competitors do (but not so much as to scare off potential buyers).
6. You've been using the same marketing strategies for years
Without any results while your competitors have been consistently improving theirs — making them look better by comparison (even if they aren't necessarily better).
7. Your competitors have a more professional website
With more information about their products and services, including testimonials from customers like yourself who are happy with the service received from them before and after sale.
8. Your website is hard to navigate or difficult to find what's needed on the site
Leading visitors down dead ends and causing frustration that can lead to abandonment at checkout or in-store purchases elsewhere instead of yours because of the frustration caused by trying to complete the task at hand using your site/app/merchant account).
9. Your competitors offer discounts and coupons that help your customers save more money when buying their products or services.
Such as free shipping or discounts on bulk purchases of their goods or services (e.g., $100 off your next purchase if you buy 2 units of this product now).
10. You don't have social media accounts that would allow people who find you online to follow updates about your business and what's new on your side.
This means they may never see all the good news about you unless they search out your business name online manually every time they want an update on what's going on with your company.
11. You lack credibility or trustworthiness
If customers don't trust what you say or how you say it (through your marketing messages), then they won't buy from you even if they need what you're selling. The main reason for this is because trust builds over time with consistent messaging and behaviour — something that's difficult for startups to achieve without years of effort behind them first.
12. You don't have enough resources to drive demand
If you don't have enough resources (time, money and people) available to drive demand for your products or services, then customers will simply go elsewhere.
13. The lack of availability of product variation and services.
The more available something is, the less likely someone will go somewhere else just because it's not available at one place but available at another place instead. If you don't have something in stock or if there's a waiting period before being able to get it, make sure that your customers are well-informed concerning that matter.
Customers want quality products and likewise for any type of service. They want to feel like their money was well spent on something that will last longer than expected or perform better than expected. The key here is not just quality but also consistency in quality so that customers get what they expect every time they buy from you.
How can you ensure your customers don't buy products and services from competitors?
The first step to ensuring that your customers don't buy products and services to the competitors instead is to have a clear understanding of what you want your customers to do.
It could be anything from buying another product from your company or buying more from you.
After that, you'll need to identify what exactly is preventing them from doing it. It could be due to a low-quality product or service, or too much effort required on their part or even a lack of trust in your brand.
Once you've identified the problem, it's time to find the solution. This will involve looking at how other companies are addressing similar problems in their business models and then making an assessment as to whether this can be applied to yours.
If so, it's time to implement changes in order to improve customer satisfaction and increase sales volume.
Keep in mind that the key to retaining customers is to keep them happy. A happy customer will not only stay with you, but also recommend your business to their friends and family members.
Here are a few tips that can help you retain your customers:
Provide personalised service
Make sure that you're providing personalised service to each customer, this helps in building a stronger relationship with them.
For example, if you're selling products such as jewellery, then make sure that the customer gets quality products at the right price.
In addition, send them periodic mailers or emails about new products and services offered by your company.
This will help in promoting sales as well as keeping your customers informed of what's happening at your company.
Give better deals to loyal customers
If you're selling products such as clothing or shoes, then give better deals to loyal customers who have been buying from your company for years.
This will help in increasing sales because these loyal customers are likely to recommend your store to other people who may be looking for quality clothes or shoes at an affordable price.