I think my competitors are going elsewhere because the cost is lower. Should I reduce my costs?
I offer writing services and lately, I've noticed that my customers are going elsewhere. I have no idea how to find out about what my competitors are charging. Should I reduce my costs so that I have more business? I've had no income in the past month. I've been in business for a little over 10 years and I'm panicking. If I reduce my costs, it will maybe make me look as though the service I offer isn't worth as much as what I was asking. Help!4 months ago - 4 answers
I would find out what your competitors are charging, either by phoning them up or sending a friend round to find out there prices, if they are much cheaper maybe slowly lower your prices or have a short term sale to drum up business maybe 20% off, I hope it picks up for you soon!4 months ago
5 seconds of thought would tell you you should have friends contact your competitors and SEE WHAT THEY CHARGE.
It may not be just price. Service? Turnaround time? Quality of work?
Find out what your competitors are charging, how fast they are, and if they offer any bonuses.
Then counter with improving your turn around time, and adding a perk or two. Offer a sale on your items to bring back the customers, once they see your new additions and quicker services you should start to see some improvement.
Also, make sure you're super friendly. Sometimes the thing that steals away customers is that your competitor is just friendly, and therefore, more of a pleasure to work with.
Think about the dollar store. How much do you trust using their soap? I'd say not nearly as much as some over priced brand's soap.
Think about a yard sale. Do you do alot of shopping there? Odds are you mingle, buy some things, but leave the buying of good stuff to a 'real' store.
Yes, call your competitors. It only takes a minute.