Imagine a web with perfect search capabilities – one in which consumers have access to everything they want to know about your business and others just like it.

Knowing that, would you operate differently than you are today?

You can hope your prospects will not discover other sources that are cheaper or better than yours, or you can accept that the day will soon come when they will know all that you do – and more.

Competition is something that keeps business owners and marketers up at night. They bemoan that some are trashing their markets by offering pricing at which nobody can offer a quality product or service.

Is that true – or do they simply have a different business model?

The Future of Marketing is 100% Transparency

If you are willing to warm up to the fact that consumers will soon have 100% access to information, you can avoid allowing your business to die a slow death.

In every industry, business leaders sit back and watch the newcomers compete on a new level, while confidently proclaiming they will never last – yet, many do.

There will be more companies that can do what yours does for less. You can sit back and hope it doesn’t happen, or you can join those of us in the race to the top.

The Race to The Top

Marketers know you never want to compete on price. Price is easily matched by companies that have learned to scale, as well as by those that are desperate or stupid. Regardless of why it happens- you still lose the business.

Smart companies are open and honest about their price. If your offering is better it should command a higher price. The question, how much higher?

The race to the top is won by being so good that price does not matter, within reason. Of course, consumers are not necessarily reasonable – they see better quality and expect to get it at the same price as what is inferior.

This is a challenge we all face.

What is tangible will always be scrutinized – and that includes price.

One powerful way to overcome what is tangible is with intangibles, such as celebrity appeal, if you have it. Though, for most mainstream small businesses, the most powerful intangible is the trust of the communities they serve.

The solution is simple – you have to innovate and differentiate. The only way to compete against price is to be priceless, and that is not an easy thing to do.

Nevertheless, it should be your goal. How can you do what you do now at half the price? How can you then increase your value to solidify that position?

The Race to The Bottom

When your products and services are viewed as commodities, you are in a race to the bottom.

If the average consumer cannot differentiate the quality you offer, it doesn’t matter. It’s as simple as that.

This is one of the benefits of having a solid content marketing strategy – one in which you educate your prospects and customers to make them better buyers of your products and services.

Every industry is going to experience a shaking out over the next several years. The survivors will be those who offer the best price or the best value – and the gap between the two will narrow until they are nearly one in the same.

When there is a race, everyone gets better or they drop out of the race. As search continues to get better, you will see more companies drop out – with the survivors getting better, both in terms of price and quality.

Are you ready to redefine how you operate your business?

Or are you waiting for the race to come to you?

The race is on – some businesses recognize it and others don’t. If you think you are not racing to the bottom – you probably are.

The nature of business these days is one of constant improvement and innovation – a race to the top.

It’s the only condition that can sustain your business in an environment in which perfect information is readily available.

What are your thoughts? Leave a comment below.

And please share this with your community and encourage them to join the conversation.

Until next time, Jeff

Photo Credit: 89studio