How to Use Price Transparency to Showcase Your Secret Sauce
Have you ever gone to a grocery store that didn’t list their prices, bought gas at a station that didn’t list their prices or shopped for airline tickets without knowing the cost? Chances are that you haven’t, because consumers want to know what they’re shopping for and how that compares to other businesses.
While it may seem like sharing prices would cause the competition to match your prices, which could then lead to losing out on bids, price transparency can have the much more powerful effect of getting customers to move beyond solely focusing on price.
Currently, even if you offer better services than your competition, customers won’t consider that if price is the only factor you are making measurable.
Simply put, to win more business, you need to expand what you measure.
Putting a Price on Customer Service
Low prices win out in a commoditized business, but waste collection doesn’t have to fall into that category.
Often, the only feedback we get in the trash business is negative, but there is value in what’s left unsaid.
If you could communicate to customers and prospects how well you’re doing your job, that could make a difference in winning their business.
What if they knew you had a 99% service success rate, that you have a perfect DOT score, or that you had the highest recycling rate out of your competition? What if you had a real satisfaction rate you could provide your customers?
With Grid Waste, you can set up a public profile to let your prospects learn about your company and what makes you great. Most importantly, Grid Waste leverages collection data and contract information in your account to create real-time quality ratings that you can use to show customers how reliable you are.
There’s a reason why certain airlines win out over competitors, even though they all provide similar service. Yet seemingly small factors like being on-time and offering flexibility prompts customers to choose one airline over the other.
The same types of differentiators could be true in the waste management industry, so it’s up to haulers to demonstrate why their customer service is worth a premium.
In addition to being reliable, haulers can differentiate from competitors in a variety of ways, such as offering better territory coverage, helping customers meet their recycling goals through Grid Waste’s reporting feature or offering instant email and phone support.
Plus, haulers can differentiate their business by offering better pricing strategies. Even though price itself isn’t your secret sauce, transparency can lead to customers finding out what really sets you apart. They will also appreciate the easiness of being able to get accurate quotes online. And if you can adjust your pricing to better reflect the circumstances of your waste collection, you can make your business more profitable without having to aim for a low price across the board.
Get started today with differentiating your service through Grid Waste, and stay tuned for more tips next week on how to improve your price modeling.