Race to the Bottom

Written by Shanna Dennis, Brand Strategist

race to the bottom blog

If you start actively branding your business today, you can get out of the horrible race to the bottom. That’s right, just stop running and start walking the other direction.

If you are not branding, you are more than likely a commodity through the eyes of your customers. As far as they are concerned, you sell the exact same product or service as your competitor, and they will go with whoever has the lowest price. You can’t blame them for that!

 

Here’s an example

Think about some of those big box stores. When you need something cheap, you’ll run in and buy it. You find when you arrive that it’s big, confusing, and unfriendly. The staff aren’t passionate about what they do, and aren’t overly concerned with whether or not your enjoying your shopping experience. They haven’t put any work into making the store feel good, smell good, or look good. So if that thing you need is being sold more cheaply somewhere else, you feel no loyalty to store number one. Suddenly there’s a new store that’s winning the race to the bottom. And in the end, no matter where you go you’re not having a very fun shopping experience.

 

Stand out in your market

If your potential customers do not see you as different, they will compare you by price. And unfortunately, there is only room for one company to win the race and be the lowest price.

When you are actively branding, you are differentiating yourself from the competition and entering a class of your own, offering an experience no other can match. When you are branding, your customers have valuable reasons outside of price to purchase from you. You are speaking directly to them, you are offering them more than the product or service they are buying, and you are breeding loyalty and advocacy.

 

When you are not actively branding you are forcing people to compare you on your prices.

 

Here at Enticity, we love to transform a commodity into a passionate brand. Consider our Consulting services to get you on the right track. If you’re ready to learn more, let’s talk! Call us at 1-833-925-5347 and we’ll give you all the juicy details.

Shanna Dennis

Brand Strategist

We are a strategic brand agency located in Barrie and Toronto Ontario, focusing on spreading our passion for branding within Toronto and the GTA. We love working with small to medium sized businesses looking to brand or re-brand their company. We also love working with entrepreneurs who are passionately shaping our economy with their innovative visions for our future. If you are an entrepreneur, a business owner, or a marketing director, we’d love to work with you on your brand strategy and discover ways to heighten your consumer’s experience. Our Discovery Session and our Define Before Design® strategic brand process has been developed for you.

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