Don't Bend Your Business Model Based On Feedback From A Few People•
Posted on January 27 2021
Don’t bend your business model because of feedback from a handful of people.
I saw a post in an ISO group on Facebook asking what transfer shop owners have the cheapest transfers.... and in the matter of minutes there were all kinds of new pop-up shop screen printers posting their groups with their “great deals”.... & I just shake my head.
The first thing I want to point out is, to a screen printer, seeing a post where someone is asking for cheeeeeeap is like you seeing a customer asking for recommendations on the cheapest product you make. It feels kinda insulting, ya know? Why does it feel that way?? Well, because instinctively we feel like the customer posting that is undervaluing us.... like it’s a reflection of our worth. And I would have fallen into that trap once upon a time.... but I know EXACTLY why my prices are what they are and I KNOW THE VALUE behind my brand!
You will have people ask you about your prices, especially if they are higher than others in your marketing space. Think about what your answers will be now, that way when someone does ask you are ALREADY prepared. Being able to speak quickly and intelligent about your products, pricing, etc proves the worth of your brand even more!
There are typically three categories that consumers are most concerned about when shopping online: diversity, quality, timeliness. You CANNOT have all three at the price of CHEAP. And THAT is what you want your customers to understand & where you can show your value.
Customers want a lot of options (diversity) to choose from so they can order from one shop.
Customers want quality products & a solid customer service experience if they experience an issue.
Customers want their products as quickly as possible (thanks a lot AMAZON PRIME).
Guess what ALL of that translates too?? MONEY
I currently have FOUR HUNDRED AND TWENTY FIVE designs that are RTS on my website. That means I have put money upfront to have product already made so it ships to you quickly. I could have cheaper prices, but that means I have to OFFER LESS. And that’s not in my business model. My business model is built on having between 400-450 designs RTS at all times so that I can offer my customers a VERY DIVERSE selection for THEIR customers. I also have a FULL TIME DESIGNER to make sure we are able to offer unique, one of a kind designs. That’s not cheap.
I only use the highest quality material for our transfers AND our packaging materials. Quality product comes with a premium price. I cater to the crowd who wants to provide top quality to their customers, not the crowd whose business model is to sell as cheap as possible to undercut the competition (because if you’re selling for stupid cheap then you have to buy YOUR products for stupid cheap just so you aren’t OUT money!)
Our average ship time is 3 business days for our RTS transfers. We have TWO FULL TIME EMPLOYEES and TWO FULL TIME DESIGNERS to make sure we are able to double check orders, package, ship, etc. Employees cost money.
I know why our prices are what they are. And I know what my customers are getting. And THAT is what my business model is based off of. QUALITY.