Guy Harley - Jan 14 2023
Why your trade business is landing you lots of work, but not making you lots of money.
Escaping the Price Trap of Marketplace Platforms:
Is your trade business bustling with work, but leaving you with little to show for it in terms of profit? If you're solely relying on social media marketplace platforms for advertising, you may find yourself stuck in a cycle where attracting customers focused solely on price becomes a hindrance to your financial success. In this blog post, we'll delve into the challenges posed by price-conscious social media buyers and how they impact your earnings and ability to deliver quality work. We'll also explore how developing a professionally built brand and online presence can help you attract higher-paying customers who prioritise quality over price.
Is your trade business bustling with work, but leaving you with little to show for it in terms of profit? If you're solely relying on social media marketplace platforms for advertising, you may find yourself stuck in a cycle where attracting customers focused solely on price becomes a hindrance to your financial success. In this blog post, we'll delve into the challenges posed by price-conscious social media buyers and how they impact your earnings and ability to deliver quality work. We'll also explore how developing a professionally built brand and online presence can help you attract higher-paying customers who prioritise quality over price.
The Problems:
The Pitfalls of Social Media Marketplace Platforms:
Social media marketplace platforms have become popular spaces for trade businesses to advertise and land jobs. However, a significant downside is that these platforms often attract buyers who prioritise finding the cheapest option available. This intense focus on price places tradespeople in a difficult position, forcing them to constantly lower rates to win jobs, ultimately eroding profitability.
The Struggle of Trading Time for Money:
When the primary concern of buyers is the lowest price, tradespeople often find themselves overworked and under compensated. To maintain an income, you may need to take on a large volume of jobs leading to a trade-off between your time and the money you earn. Unfortunately, this scenario leaves little room for focusing on delivering top-quality workmanship.
Breaking the Cycle:
Develop a Professionally Built Brand and Online Presence:
To escape the profitability trap and attract customers who prioritise quality it's essential to develop a strong brand and establish an online presence.
Here's how it can help:
a) Targeting Quality-Conscious Customers:
By investing in a professionally built brand and online presence, you can effectively target customers who value quality workmanship. Highlight your expertise, showcase previous projects, and leverage digital marketing strategies to reach a discerning audience that understands and appreciates the value of superior craftsmanship.
b) Shifting the Focus to Quality:
Your brand and online presence provide an opportunity to reposition yourself in the market. Emphasise the value you bring, such as your expertise, attention to detail, and commitment to customer satisfaction. By communicating the importance of quality work and the benefits it provides, you can attract customers who are willing to pay a fair price for exceptional results.
c) Establishing Trust and Credibility:
A professionally built brand and online presence help build trust with potential customers. Showcase your qualifications, certifications, and testimonials from satisfied clients with professionally taken photographs to instill confidence in your capabilities. By presenting yourself as a reputable and trustworthy tradesperson, you differentiate yourself from the bargain-hunting buyers and establish long-lasting relationships based on quality and trust.
While social media marketplace platforms provide initial exposure and access to potential customers, they often perpetuate a cycle that prioritises price over quality. To break free from this cycle and achieve profitability while focusing on delivering top-notch work, developing a professionally built brand and online presence is crucial. By targeting quality-conscious customers, shifting the conversation to emphasise quality, and building trust and credibility, you can attract higher-paying clients who appreciate the value you provide. Remember, investing in your brand and online presence is an investment in your long-term success, allowing you to build a thriving trade business that prioritises quality craftsmanship and financial prosperity.
📢 Attention Tradies!
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