February 13, 2019
Which box of chocolates?
Sent by Jonathan Stark on February 15th, 2019
My wife loves Vosges Haut-Chocolat truffles. With Valentines Day upon us, I set out looking to score a box. Unfortunately, my local market didn’t carry Vosges, but they did have three other fancy looking brands.
In an attempt to pick the best one, I perused the back of each box searching for something that would indicate that it was “the best”. I read lots of words about sustainability, and cacao percentage, and prized ingredients, and nostalgic blends.
So which one did I buy?
The most expensive one.
Here’s the thing...
There’s always one thing on the label that everyone understands:
If your “label” (i.e., marketing materials) are full of words that don’t mean much of anything to your prospective clients, then they will be forced to base their buying decision on your price.
When a buyer comes along who wants the very best, then being the most expensive choice in a sea of indistinguishable options can work in your favor.
But if most of the time, your buyers just want “good enough” then being indistinguishable from the herd creates a race-to-zero pricing dynamic.
Don’t be indistinguishable.