The Price of Competing on Price

Robo advisors

Competing on price is the worst type of competitive situation to be in. If you are competing on price, it means one of two things about your prospects: They don’t get it: You have not done a good job of explaining what you do or what you offer well enough to differentiate it from the rest of the mass market, or… They don’t care: You are selling to the wrong market entirely. For #1, the problem is yours. You need to improve your pitch and approach. With #2, this is…

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