There is a common story used at marketing workshops. You have an established business with regular customers, and a competitor opens across the road selling the same products and services at a cheaper price.
Imagine you are an established barbershop, charging £12 for a haircut, with loyal customers who recommend you, and bring their family members, ensuring the next generation of £12 haircuts. Everyone knows you, enjoys visiting your store and the service you provide. Today, the first competition opens up across the road from you offering £10 haircuts. You slowly watch as their customer base increases at your expense. Even some of your longstanding customers sneak over tempted by the opportunity to save a few pounds.
Your business can now do two things, react or respond. Reacting is an emotional response, which usually involves cutting your prices to £9.99 in order to compete, but this becomes self inflicting as it is sure to begin a price war, which inevitably means you are working longer and harder for an ever decreasing return. Often however these cheaper offers do not provide the level of service, quality of product or overall satisfaction. A strategic response is a far better way to retain customers and win back those tempted by cheaper offers elsewhere.
At this point it is best to view the strategic response, and this is where Litchfield Morris comes in. Many businesses in this economic downturn are solely driven by price, "How much is it going to cost?" has become the first question asked. This should not always be the case, the value and return on investment of a project to your business should be the greatest factor in where you choose to spend your money. With the explosion of internet driven revenue streams, many businesses have been tempted by getting online and with a website for, in some instances, the princely sum of £5 per month. This appears an incredibly tempting offer, why should you spend more for a website, are they not all the same anyway many ask?
The answer is quite simply, no, many of these cheap low cost providers offer you a very restrictive tempting system, making your online presence generic and similar to others, your site is usually hosted on lesser quality servers that may also host many thousands of other websites, affecting your page ranking (SEO) and also the security of your website, if hackers gain access through one website, it usually allows them access to every site on the server, a dangerous position if you retain customer details.
Many of these providers also put limits on monthly bandwidth, what you can change on your site, how many email accounts you may have, and restrict access to all but the basic functions of your website.
Litchfield Morris are increasingly hearing from businesses who are dissatisfied with their current online presence and the fact their website is not generating any leads or revenue.
Can you edit and control the content on your website effectively?
Does your website look appealing and exactly what you would like it to look like?
Does your website work on all browsers, operating systems, tablets and mobile devices?
If you answer no to any of the questions, then please contact us, we can fix a £5 per month website!