HBO recently updated The Wire’s Facebook status with a “HOLIDAY STEAL.”
Not sure if the caps lock was warranted since it’s not a deal, much less a steal. And the customers know that, too.
And here it is on Amazon as of this morning:
If you want to compete on price alone, it’s very hard to win. Amazon is beatable, but rarely on price.
Zappos was beating Amazon before they eventually got bought by them. But they didn’t do it by being cheaper. They were beating them with a better experience.
Competing on price is a big gamble, much bigger than trying to do something remarkable. If you compete on price and tout that you’re the cheapest, what happens when someone undercuts your price? It will happen eventually. Suddenly, you have nothing to stand on.
What experience can you provide better than anyone else? Find it and do it better than anyone else. People will pay a premium for quality.
Connect with me on Twitter: @BenNesvig