Better and cheaper
That’s a pretty powerful combination. Some customers gravitate toward the option that offers ease, quality and convenience, while others prefer low price. If you can do both…
One way we’ve seen that done is with scale. Many people prefer the big box store to the local merchant. Not only is it often cheaper, but the selection might be dramatically better, the parking might be easier and in some rare cases, the service is better as well. How is this possible? Because volume pays off in almost every way that matters to the customer.
Another way is with proprietary insight. If a company has a production process, a patent or some other barrier, they can often deliver something faster and cheaper… a barrier that a competitor without that shortcut can’t overcome.
A third way is with herculean effort. When the people who work on the team simply care more. Caring is work, and caring is in short supply. An organization staffed with smart people who care can often run circles around a lazier competitor.
Most of the time, though, you’re probably unable to rely on one of these approaches. If that’s the case, the next best option is to choose. To actually be better (regardless of price) or to actually be cheaper. But pretending that you have both doesn’t work very well.
It costs a lot but it’s worth more than it costs.