Dropping your prices is not the only way to compete in a saturated marketplace. It’s far more beneficial to create a ‘wow factor’ around your brand.
With the implementation of unique selling points, consumers are distracted from the prices and focused on the story of your brand.
JD Dwyer has made a career out of helping businesses find and utilize their own “wow factor” to create compelling campaigns with high returns. He also believes in a smart website, collecting data, and using testimonials to build authority.
JD talks about how he discovered the secret to finding what is special about your brand, the best way to build a brand website, his time working with Jerry Seinfeld, why it’s so important to collect data, and how to retain margins by creating strategies to resonate with your customers.
“Put a marketing plan together based on principles that are sustainable.”
“Hang around with people who say ‘why not?’, not people who say ‘why?’.” —@InstituteOfWow (highlight to tweet)
“Stimulate repetitive trade by making sure you have some form of loyalty system or rewards system so that you just don’t sell once.” —@InstituteOfWow
“You need real people testimonials. Start putting real people testimonials into something, and all of a sudden that gives it a credibility.” —@InstituteOfWow
“I find that a lot of businesses these days, online and offline, tend to go down the path of price discounting, and if you go down that path of price discounting then you’re going to find it’s a pretty hard road to beat Walmart on prices. So what I teach them is to actually create a “wow factor” and make sure that they stand out from the crowd.” —@InstituteOfWow
“Stimulate repetitive trade by making sure you have some form of loyalty system or rewards system so that you just don’t sell once, you have somebody becoming a longer-term customer.” —@InstituteOfWow
“What I suggest to everybody is that get the best two, three, four, or five of your video testimonials and make sure they’re on your homepage because that’s where they should be.”
“Fix your website, and I can’t say it any more simple than that. Just fix your website because I do believe that 80% or more of businesses, big and small, don’t have the right components on their website, particularly their home page, to keep people sticky.” —@InstituteOfWow