All publicity is good publicity, at least that is how the famous saying goes. While attracting attention to your company is vital in extending the longevity of your business, it does potentially set you up for bringing in the wrong sort of client. Whether you’re running a local restaurant or an online product provider, different attributes you are utilizing house the potential of actually dragging the business down. While making sales and expanding your market share does play an essential aspect in maintaining a strong company, if the wrong clients start infiltrating your business it does start to take away from your desired clients and reducing the quality of service you are able to provide. This is exactly why knowing how your brand attracts the wrong sort of client and what you can do about it is so important.
Your Pricing is Wrong
No matter the product or service you provide, it is possible to either charge to much or to little. You need to hit the sweet spot of the pricing curve, otherwise you’ll bring in less financially stable clients who are more likely to skip out on billing statements or not fully respect your services. The perfect example of this comes with the sale of cars. While Chevrolet and Cadillac are both owned by General Motors, the two different companies offer up different price points for different types of clients. Cadillac prices its vehicles to attract higher-economic classed individuals who are willing to pay more for quality. Chevrolet, on the other hands, prices its vehicles to stay competitive with other less expensive manufacturers. Whether you own a restaurant or sell paper, you need to price your products to both reflect the services you provide but also attract the clients you desire. You also might find you are on the opposite side of the spectrum, charging large amounts for a specific product but you can’t keep up with the premium customers who demand more from you and your services. If this should happen you can lower the price and go after the less-demanding middle-level paying customers who are less likely to demand as much personal service from you.
Advertising says a lot about your company. You are able to showcase your product, what services you offer and what kind of assistance you’re able to provide, which is fine, but you need to think about where you advertise the product and who is likely to see the advertisements. If you advertise in a local weekend newspaper residents of a town receive for free, you are going to attract individuals with fewer resources and less financial assets available to them. If, on the other hand, you advertise in higher-end magazines, wealthier sides of town or work hand in hand with another high-end company to promote one another, you are going to attract wealthier, higher-end clients. This is going to greatly affect the kinds of clients you are going for. If you want a large quantity. of clients who are willing to spend small amounts of money, advertising in a wide-spread method is best. On the other hand, if you want to attract wealthier individuals who you help every step of the way, advertising in the higher-end parts of time work in your favor.
Your appearance goes a long way for attracting the right and wrong clients. You present yourself in advertisements a certain way, design your office in a certain way and present yourself all in a certain way. This presentation has a direct impact on your clients and who come back and continue to shop for your services.
By Ross Davies