Best Price vs Best Value
Using price as an incentive? In our opinion, you should aim to be the best, not the cheapest
Momentum supports many businesses at the start-up stage and winning new clients is paramount for them. When you’re just starting out, it can be tempting to try to undercut everyone in the belief that you will not get the business any other way. However, this is usually a mistake, reducing the value of your service is likely to result in poor retention and is usually unsustainable providing a great proposition that meets the needs of your clients however leads to success.
Of course, getting the right price is essential but to differentiate from your competitors, make quality your selling point. Let people know how you’re going to work and what you’re going to do for them so that they understand the value of your service.
Look to provide a level of customer service competitors can’t match. By building trust, clients won’t feel the need to shop around every two or three years. It will also cultivate that vital source of new business, word of mouth.
Momentum is no different. We provide our broker partners with the most comprehensive support available to help them build successful businesses.
We’ve spent a decade investing heavily in our support resources, which includes:
- Building a first-class broking team and market relationships so that our partners can be confident of getting the best deal for their clients
- Providing market-leading systems and support so that clients experience a professional and efficient service
- Marketing support to enable our partners to build and develop their business within their target markets
- Providing a regulatory framework and support enabling our partners to focus on looking after their clients
- Creating a business model that removes significant cost; PI insurance cost, regulatory fees etc aiding both the setting up and running of the business
Our investment delivers great value for our partners which they recognise.
As in all aspects of life, you get what you pay for. There are ways to reduce costs, nearly always rooted in a reduction in the value of the service. It can be hard to avoid competing on price, but you will never look back.