Don’t Operate Like a Caveman
Do you accept every form of payment?
Today’s customers have a variety of choices of where to buy and how to pay for the products and services you sell. I have seen retailers lose sales when they won’t accept American Express cards. A lot of consumers also walk if you don’t offer long-term payment options for high-ticket items. One of my clients, Colortyme, a successful rent-to-own chain has figured it out. They offer their customers flexible payment options, including weekly, bi-weekly, monthly, cash, 90-day or a customized payment schedule that fits the customer’s budget.
Do you make it easy for consumers to understand the benefits you provide?
People shop price, but they buy value. Value is the benefits our products and services provide. Although most people buy benefits, most retailers make the mistake of selling features. A feature is a component of the product. The benefit is how the product improves the customer’s life.
For example, a large tub in a washing machine is a feature. The benefits of the tub are the ability to wash more clothes at one time, saving time and money. Do not assume the customer knows the benefits of those products and features. When you mention a feature, make sure to talk about its benefits.