Common Misconceptions about Price Matching

In a very competitive market, and to avoid misconceptions, businesses develop and use different strategies to gain the upper hand and oust their competition. One of the weapons used to dominate the market is price. The price of a commodity has a huge impact on its demand, especially because consumers like you and I are attracted to lower prices. Price-matching is a policy used by businesses that guarantees their customers that if they can find a better price elsewhere prior to purchase, they will match that price.

However, people don’t really understand what price-matching entails, how it works, and how they can fully utilize it. Consequently, there are a lot of misconceptions about price-match guarantees. Below are some of these misconceptions and their accompanying truths:

Price MatchIt’s Easy to Avoid Misconceptions:

While price-matching may seem like a great policy, there are a lot of boxes to tick before your price can be matched. First, the item whose price you’re comparing must be exactly the same in every possible way. For example you want to purchase a t-shirt and you realize that the same t-shirt cost less in another store, you must ensure that the color, size, design, weight, and quality of the two t-shirts are exactly the same before the price-match policy can apply.

Stores Are Happy To Match Your Prices:

This could be wrong. You may ask yourself, why introduce a policy if you’re not happy when people use it? Small businesses often can’t afford to accept a loss on one item and they only adopt price-matching to remain competitive. Yes, offering to meet or beat any competitor’s price can draw customers in, but if small business owners can’t make up for that loss, they’ll crumble as a business.

Matching Competitor’s Prices Will Increase Sales:

This may not be true. Yes, we know that price is a weapon in the market and consumers are going to chase after lower prices. However, small businesses and startups simply can’t compete with larger retailers. It could ruin their businesses. Other strategies such as improving the quality of service and products, responsive live chat and customer service support, giving add-ons and small gifts to customers, and adding value to your service will surely make your business stand out regardless of your prices and attract more customers to your business.

I Can Apply The Policy To All My Purchases:

This doesn’t always work. At least not at Best Buy stores. Their policy states that price-matching is limited to one item per customer – so if you walk in to Best Buy hoping to buy 5 of the same item and apply the policy on each, you’re only going to get the price of one item matched and pay regular price for the other 4. Quite frustrating don’t think? Well, there are other very interesting things contained in the price-match policies of many businesses if only you care to study them.

Nevertheless, price-matching remains one of the most successful strategies employed by businesses to increase sales and attract more customers, keeping them loyal and happy.


 

Identity TheftThis article was written by Emmanuel Ozigi, a biochemist in the making from Nigeria. In my spare time, I’m a science, health, and fitness blogger. I also specialize in graphic design and photo editing. I also have this insatiable hunger for information and the desire to learn new things. Visit my blog at http://sciencehealth24.com.

 

Could Live Chat Generate More Sales?

live chat

Online consumers who use Live Chat are more than 80% more likely to buy from you than those who do not.

If you’re an online entrepreneur, chances are you are willing to try just about anything to get people who visit your site to do what you want them to do. What I’m about to tell you is the truth – although it may surprise you. 

Live Chat has been a proven asset in dozens of studies performed all over the world. It stands to reason then, that websites that offer their visitors Live Chat make more sales than comparative sites that do not.

So, the question is, if consumers come to your website, are they going to be able to contact you through your awesome and easy to use Live Chat banner or not? Maybe you’re not ready to take the next step forward. Maybe you aren’t willing to have someone available (during regular business hours at least) to answer questions the second they are asked. Maybe you don’t want to get rich quick.

But I have a feeling that you are willing to do whatever it takes – including providing exceptional customer service to your customers – to succeed. If I’m right, then you are ready to grow your business by offering Live Chat to your online visitors!

With Rhino Support’slive chat Live Chat software you can easily:
~ Customize the interface of the banner so that it will match the color and style of your website.
~ Engage customers automatically after a set time of being on a specific web page.
~ View Live Chat histories and create support tickets from previous chats.
~ Submit a ticket in the event that an agent doesn’t respond to a chat.
~ Set the maximum number of chats that an agent can have at any one particular time.
~ Transfer Live Chats to other agents that might be better equipped to answer specific questions.

Visit Rhino Support today and take their easy-to-use tour. It’ll show you how the banner will look on your website before you even order it! If you don’t like free trials that ask for your credit card anyway, you’re in good company. Neither do we. Try Rhino Support’s software for two weeks free. If it doesn’t grow your business and help you look more professional and up-to-date with other state-of-the-art websites, just cancel the subscription with no credit card information ever changing hands. I have a feeling that once you start using Live Chat, you’ll keep using it.

I have a feeling that once you start using Live Chat, you’ll keep using Live Chat. Click here to get started.