You've probably noticed over your lifetime that companies dealing in quality products and services tend to remain in business over a long period of time.
Others that prefer to push inferior products - and sometimes just good or average quality offerings - usually have a much shorter life cycle.
Why is it? Wouldn't you logically think that cheaper and more affordable items would outsell more expensive ones if they both performed the same basic functions?
Couldn't you assume that a "stack it deep and sell it cheap" marketing strategy would
produce many more sales (and greater revenue) than a product message centered
around usability, customer service, or some other unique and rare characteristic of
lower demand?
Let me tell you, unequivocally, that in today's markets (and those of the forseeable future) customers are in the driver's seat so to speak. They have never had more choices and alternatives in the products they buy.
In addition, they have never before had such easy and quick access to product specifications, product reviews, and user comments (and complaints) on every product imaginable!
This consumer power, the fast and objective side-by-side comparison of similar products, gives every buyer the information she needs to make informed and wise purchase decisions.
What does that have to do with quality?
It's simply this: low price alone is almost never the basis of an informed buyer's choice. Any one or several of these others factors are often the buying trigger that leads to a product sale:
- ease of use,
- best guarantee,
- evidence of low maintenance and/or minimal repair costs,
- one-of-a-kind or custom solution,
- the perfect size or color or model,
- glowing recommendations from other people (expert or not),
- perception that the product will outlast all other similar products,
- product efficiency (or "bang for the buck"),
- the automatic solution (no work for the buyer),
- the recognized brand name.
No news travels faster or more widely than the rant of an unhappy customer that felt she was "ripped off" in one of her purchases.
If the product you sell and deliver fails to satisfy the customer, that will be the last purchase you can expect from that buyer. And worse, the disgruntled purchaser will often spread the bad news, truthful or not, about you and your company.
In short, a quality product delivers five things to a happy customer:
1- The solution the customer wants,
2- At a price that is reasonable and fair,
3- Purchased without risk (meaning an iron-clad guarantee),
4- With some overdeliverance or unexpected upside or benefit,
5- And the access to help, communication, and excellent service if needed.
How do you find out what the customer wants, thinks is reasonable, and feels is fair and expected?
Simply ask. Never assume that you are your own perfect customer for one of your own products. Get feedback, customer reviews and comments, and listen carefully to learn the good, the bad, and the ugly of your business offerings.
Never compromise the high standards of quality you set for your products and your business reputation. Winning businesses - those that are profitable over the long haul - learn how to deliver what the customer wants and do it in an open and accomodating way!
