Do Your Products Only Appeal to Those Who Don’t Comparison Shop? That Strategy is DOA

“Power to the Consumer” and if your business isn’t giving them the power, they are going to take it. And when they do they are going to take your power and all their patronage to your competitor. Rather than being powerless, why not leverage new technology to empower them, and promote profit? Sound like a plan? Okay so, let’s talk about moving more products without alienating your personal tech driven patrons, and what will happen if you don’t.The first thing you need to remember is those old days of bundling trickery, or luring your customer in and using pushy sales tactics in an attempt to prevent your customers from comparison shopping are all over. That cheese has been moved and if you try to use such strategies, the trap has been set, and your future sales are DOA. Recently, there was a funny Dilbert Cartoon where one character admitted that his business products really only appealed to consumers who didn’t comparison shop. Meaning they were over priced and inferior, but they still sold enough to continue their product line.Okay so that’s funny, but why not stop and think for a minute – are you still trying to sell over priced goods in this day and age of smart phones, iPhones, and iPads where everyone has instant information, and it growing more robust every day? One article recently in the Wall Street Journal suggested that Apple could produce as many as 45 million iPads in 2011, and that’s just one company, not considering all the clones, knock-offs, and competing brands. Most of these devices are perpetually connected to the Internet, and thus, to all your competitors as well.Obviously, I am not here to tell you how to run your business, and you most likely know more about your industry than I, however it hardly matters what sector you are in, because if you are selling any type of product the same rules apply. It’s like Adam Smith’s “Wealth of Nations” comment that efficiency in free-markets occurs best when both buyer and seller have complete knowledge. Right now these new technologies are bringing all that forward.Now the question is; are you ready to compete, and use these technologies to your advantage, or are you going to fight it to the death of your business. Do your products only appeal to those who don’t comparison shop – that strategy is DOA. Indeed, I hope you will please consider all this and think on it.