Many marketers and companies shy away from comparing their brand or product with that of the competition. The common thinking that underlies this attitude on the part of retailers is that comparing products helps to promote the competition. But this is where market psychology steps in. If you think the customer is not already comparing your product or brand to the competition, this signals naïveté on your part. Learn more about why product comparison online is a great selling tool onsite for retail companies right here.
#1 Take the Lead, Lead the Market
Product comparison is the key to gaining the first mover advantage online. Retailers need to do the comparison before the competition beats them to it. There are many benefits and opportunities in comparing your product or brand before your competition does. Not only do you have control over the marketing rhetoric but you can also signal market expertise as a result of product comparison that shows your brand to an advantage. Guide consumers to look for what is important while making comparisons.
#2 Stay Ahead of Reviews and Market Research
Nowadays, consumers use reviews and research products and services more than they did years ago. Online comparison sites, tools and comparison shopping are catching on fast. People are pressed for time and have budget considerations. This is why it is essential for people to be able to compare products on your retail site.
#3 Point Out Product Benefits
The strategy should be to sell the sizzle instead of marketing the steak, when it comes to product comparison. Your strategy can focus on pointing out product benefits to make people’s lives better and happier. A key consideration in using this opportunity is to point out the key advantages over the competition.
#4 Present the Real Picture
Help your customers to see the writing on the wall when it comes to Pathwwway Romania product differentiation. If your competitor has a solution that is cheaper, price cannot be the differentiator. Instead, you gain leverage from product comparison sections that point out why your costly product is well worth the extra investment.
#5 Take the Focus Off the Price
If one does not compete on price, the strategy should be to focus on other aspects like features, value for money, warranty, testimonials, reviews and more.
#6 Offer What Customers Look For Most
Your comparing products with competitors is just the right way for offering customers what they look for. Return policy, guarantees, reviews, testimonials and price considerations are not the only factors on which products are compared. Equally important is the convenience factor, easy comparison, cost-free shipping, prompt delivery, ease of purchase, brand power and range of product lines. You should consider a detailed comparison grid keeping this in mind.
#7 Establish Market Expertise
People tend to prefer inputs from experts. Comparing products establishes your market expertise. Promote yourself as one who knows more about how fields relate to your product than any other brand. Share your experience and join the conversation. Offer customer care, support, expert advice, tips and guidance on your company blog or eCommerce website to position yourself as a market leader through comparison of products.
#8 Control The Comparison
It is clear that customers nowadays compare products. They check out the competition before making the purchase. Control the comparison and move it to your advantage by working out a grid yourself for the products in question. The comparison chart serves as a useful means of nudging the consumer towards seeing greater value in your products. Include elements consumers look for most while making a comparison, as part of the grid. Help consumers to reach the purchasing decision by making a comparison and gaining all the information they need.
#9 Set Market Standards
As part of establishing your USP, you need to differentiate yourself from the competition, when it comes to factors like price and quality. Price is always the key issue and compromising on it in the name of quality or vice versa does not go down well with customers. So outshine the rest of the pack in the arena when it comes to establishing your value proposition. Consumers compare products in the digital world. It is a fact of life. Prices of competitors are a natural consideration while making a purchase. Rather than giving a free reign to customers, set market standards by providing a Pathwwway Romania comprehensive comparison chart that keeps them on your site, not a search engine box looking for cheaper bargain deals!
#10 Help the Customer
Evidently, the job of the retailer is also to help the customer along the decision making journey. Most retailers don’t understand how challenging it can be to locate quality products at the lowest possible prices, in a maze of product offerings online. With the advent of internet sites, comparison shopping helps the customer to save time and short-circuit the process, helping them to make the purchase from a company and brand that offers the most competitive rate a.k.a you.
#11 Value For Money
Comparing product features, technologies and specifications enables the customer to get the best value for money. They are, therefore, more likely to trust your products and your retail site. Compare several designs and models and arm yourself with the knowledge about what suits the customer needs and preferences and gauge how you can best meet it as opposed to the competition.
#12 Find the Right Product
With a feature for comparing products in the shop, one can make it easier for customers to discover the right products. Hundreds of available products are there. Sometimes, even product reviews and testimonials cannot work when it comes to deciding which product offers the most advantages and the minimum downtime. With the comparison functionality inbuilt in your site, customers can compare different products in seconds and easily see the differences, helping them to arrive at purchase decisions faster. Time is money for not just the customer, but the retail site as well. Product comparing units are like a 24/7 salesperson at your digital store, virtually enabling clients to make an informed choice.
Comparison Shopping: Crucial For Retailers Online
For consumers, comparison shopping has become an important element of the buying decision. Comparison platforms are also a source of excellent leads for retailers online. Physical stores do not provide detailed information about competitor products. This is where online marketing can score. Comparison tables further offer deeper insights into buying behaviour and influence sales strategies.