In this digital age comparison shopping has become easier than ever, making it the bane of most business owners.
Comparison shopping frequently results in decreased sales, narrower margins, and a reduction in revenue.
Nearly all shoppers compare several retailers or service providers for the best options, prices and guarantees, which is completely logical, but it can still eat into your bottom line.
Luckily there are several ways in which you can prevent this comparison shopping, or at least control the conversation.
Exploit mere-exposure
Mere-exposure is also known as the familiarity principle, and it refers to the human tendency to prefer things with which we are familiar.
This is the main strength of big brands like Coke. They have spent millions of dollars ensuring that they always have front of mind presence so that whenever you think of soft drinks you instinctively think of Coke.
This type of exposure generally takes many years and lots of financial investment, but there are some ways to speed up the process.
Start by publishing great content on not only your website, but also other websites in the industry to gain exposure. Spend money on good SEO, ensuring that you are found easily in relevant searches. Look for beneficial paid traffic opportunities on Google, Bing, and Facebook and don’t be afraid to try other forms of media such as voicemail, SMS, newsletters, and direct mail.
Using all of these strategies simultaneously is a great way to ensure that whenever a potential customer is looking for something in your industry, you will be one of the first – and most common – results they see.
Do the comparison for them
Since you won’t have much success preventing comparisons entirely, it is often a good idea to take steps to control the comparison.
The easiest way of doing that is by providing them with a comparison as part of your sales process. This will give you the opportunity to ensure that they are only getting accurate information about your product or service.
It will also give you a chance to focus on areas in which your product excels compared to the competition. Do the research for them and demonstrate how well you stack up with comparison charts and FAQ questions.
Write engaging copy
Engaging copy can have a tremendous impact on conversion rates by selling them on your product before they even have a chance to comparison shop.
Use surveys of your past customers to find out what they want to know about your company, products, and services and use that to frame the information provided on your landing and sales pages. Add some personality by showing your enthusiasm or using sarcasm but most importantly, make sure your copy is clear and concise. Don’t sacrifice clarity for humor.
Provide proof
The number one thing that consumers want before they make a purchase is proof that your solution will meet their needs better than any other. Win them over by providing proof that you can achieve their desired results.
Testimonials and reviews from previous customers are a great way to demonstrate that your products are a successful solution. Consumers like to follow trends, especially successful ones, so provide a variety of success stories that they will be able to identify with.
