As admins of a group of niche cottage home bakers, we get to see a lot of questions about getting sales - and even more people thinking they can compete on price to gain traction in the marketplace.
But competing on price is a literal race to the bottom - the bottom of your bank account. Ya see, if I lower my price by $1, and you lower yours by $2, and then I counter by lowering my price by $4... well, let's just say pretty soon we'll be able to duke it out standing in the unemployment line.
You cannot compete on price. So how do we get more sales in a somewhat saturated market if we can't use discounts and deals as incentives?
Increase everything else. And I'm not saying get your boxes lined with gold leaflets - but rather increase everything but just one percent.
One percent is pretty easy. I mean - what can you do just a single percentage better than you're already doing? Let's start of with an example - emails.
Are you using a custom domain? Do you have a quick response time? Do your emails include pertinent information about the client's order confirming their details in each correspondence? Does your email signature look nice? Changing any of these is an example of increasing by 1%.
🤏 One percent sounds... well, piddly if I'm honest. If you told me I'm getting 1% off at the Vendy Blendy - I'd tell you where you can shove it (... which would be in my shopping bag because a deal's a deal, amiright?!). But 1% across a myriad of different aspects of your business can amount to major experience changes! If I changed 30 things by just 1%, I'd have an increase of 30% in customer experience for my small business.
And that is huge. 👐
Other ways you can increase by 1%:
You don't need to be the best baker with the best packaging with the best ingredients with the best turnaround times. But you can be the baker who is 1% better at replying to emails. The bakers who as a curb appeal that looks 1% nicer than the next. And a customer refund policy that's 1% more appealing than another's. It adds up.
🤏 The small things can make big differences in your bottom line.
👂 Snag this podcast on any major podcast player (Spotify, Apple Music, Audible, Amazon Music, or your desktop) by clickin' here - Episode 132 - The One Percenters.