Your business is not only your services & goods, it is much more than that. In order to build a successful business you will need good relationships & an amazing reputation. All this falls under brand because your brand is what people think about you, whenever I think about good coffee i Immediately think Starbucks, not because they make the best coffee in the world but simply because they make me feel really special by writing my name on my coffee cup. It feels specially made for me. Do people think about you at all?
What your customer thinks is extremely important. You thought you were in competition with your rivals, NO! You are in competition with what your customer thinks about you. Does your customer think you are overrated, over priced, too cheap, pure quality or boring? That has a major impact on your business than what Josh is doing.
In most people’s minds expensive means quality, I would argue differently & say that value wins over price in the long term. When I go to get a hair-cut, there are a thousand barbers who would be willing to do it for R50(ZAR), but somehow I always end up spending R250(ZAR) on a haircut I could have paid less for. WHY?!
The barber I use EDGE for men provides me with a lot of value. When I enter I am greeted by a friendly receptionist who takes all my information & offers me a drink, by the time I sit on that very clean & comfortable chair i am already sold & willing to pay anything they want. The barber comes & starts a friendly conversation & the experience is pleasent, when they are done I am sent to a section where my hair is washed & I get a head massage (By the way we are not being paid for this, it’s just a happy client talking). So without going on & on about them, you can already tell that the cheaper barber who can save me money wasn’t attractive to me, I went for what provides value to me.
So think about the value you provide to your customer. Does your customer give you free promo? Does your business understand what exactly your customers need? building your brand around the values that your customers have is extremely important to the success of your business.