Competition in the electronics business is tough. There are lots of products to choose from, and plenty of places to buy them from.
You can sell on price, or you can sell on value.
The problem with selling on price is if all you have to offer is a low price, there’s no really good reason for customers to stick with you.
There will always be someone, somewhere even more desperate for a sale than you who will beat your already low price.
It’s a losing proposition.
That’s why it’s so much better to sell on value.
How do you do that? You create value. You give customers a reason to give you their money: because they perceive that they’re getting more for their money than just paying the lowest price on their goods.
In order to do that, you need to get creative.
As I’m fond of saying “This business is like Pro Wrestling: You gotta have a gimmick!”
Without a gimmick, any fan-favorite wrestler is just another large sweaty man in tights and boots. They have to give the fans a REASON to love them!
That’s a truth that became evident to me very quickly when I worked in retail electronics.
That’s why I started saying to shoppers, “Well, for one thing I offer an excellent Purchase Rationalizing Service.”
“Pardon me?” they would ask.
“It’s simple” I’d explain, “I can not only help you put together the home theater of your dreams, I can provide an exhaustive list of rationalizations for your significant other, yourself, or both, for why this is a fantastic idea and the best use of your discretionary funds.”
And more often than not it worked!