When choosing a product or service, many think that it’s the lowest price that wins. The reality is—the product or service that appears to be the least risky—is the one that wins. In some businesses, that’s clearer than others.
The least risky at work
For instance, if you’re picking a preschool for your child you definitely want the least risky. How do they show that? Exterior gates around the playground, locked doors, parental code access, all female staff, and so forth. As you take the tour, they go through your child’s day, programs, developmental goals, and more. All that is to assure you, “when you leave your child with us, their safety is guaranteed. They’ll be taught so they can move onto the next stage of their education ahead of the pack.”
If they were the most expensive would you still place your child there? Of course you would, because your child’s safety is worth the price.
That’s how it works, folks. The more someone pays, the less risk they want to deal with. Naturally, the question is how can you make your business the least risky?
How to make your business the least risky
Have good, unified branding
Branding makes you look bigger than what you really are. It conveys trust and reliability—both of which reduce risk.
Just to be clear, branding is not your logo, it’s the foundation. Branding is the feeling one has when they encounter any aspect of your business. Thus, you want your brand to exude the positive feelings people should have when doing business with you.
Make your fulfillment process transparent
When people know what they’re going to get before they even call you, they will trust you over others.
You actually sow a bit of doubt in your competitors because your potential client will wonder, “Johnson’s Plumbing is showing me on his website exactly how he will clear my drains and no one else is. Why not? Will they do other stuff if I’m not watching them the whole time?” Then they will call Johnson’s Plumbing because he made his process transparent so clients don’t get any surprises.
Put your prices online if you can
No one likes discussing money, so get it out the way ahead of time. Knowing how much they’re going to pay for what they want, makes the buying decision so much easier.
Here’s a trick of the trade. Create three package options. Most people pick the middle option. That creates more cash flow for you.
I’ve talked about this before in the article, Online Reviews: Your Ace in the Hole, but the more reviews you have online the stronger your reputation will be. Potential clients will trust you more than others. If you have the other three in place, then doing business with you becomes a no brainer.
Be the least risky and most preferred
Put these steps in place and you will have a business that will be the least risky and most preferred. Until next time, I wish you much success in transforming your business into a brand that helps you achieve your goals.
George Paul III is a branding expert and award-winning designer. He’s the Founder of Seize the Brand, an education platform designed to empower business owners by leveraging the power of branding to realize business and life goals.