From SCORE Richmond by Doug Carleton:
We are not ever going back to the pre- 2008 recession type of consumer spending because Amazon was just beginning to dramatically change the way consumers buy things, and in 2019 people want fast and easy (i.e. not leave home in most cases). More and more things can now be ordered online and delivered to your door. Rather than go to the grocery store, just order it online and go sit in the reserved spaces in the parking lot and have someone bring it out to you and help you put it in your car. So why would a consumer want to buy from you? What do you offer that your competitors don’t? Obviously if what you are selling can be easily bought online it is going to be harder to compete without running into Amazon and all its siblings. But, a high percentage of products are still purchased “brick and mortar.” Consumers are doing more research online but then still going to the brick and mortar to purchase.
So what is the value of what you are selling? What is your unique value proposition? Is it price? Quality? Service? Experience? Location? If your business is still reasonably successful, should you assume that since no customers are complaining that they are happy? Maybe there are customers who have left because they did not get what they wanted or expected and their wants were ignored. Back to the question of why a customer buys from you. If you haven’t taken a serious look at it, stop and think what it might be if you were forced to describe what you sell in 25 words or less, and don’t say service. Everyone expects good service. So what is the real reason people buy from you? A perfect illustration of that 25-words-or less description of why customers buy might be FedEx with their former ad campaign – “When it absolutely, positively has to be there overnight.” 9 words.
It might not hurt to give this some thought in regards to your business. Maybe your competitors haven’t. Some of your competitors may be gone or about to be. Maybe if you really hone in on what you do best you can not only compete in today’s world, but come out growing. It could be a unique opportunity.