How to Charge 2x–10x More Than Your Competitors

Written by Hsen Snen on Jan.24 2022

Your customers — all customers have a choice.

They can choose to do nothing at all.

They can choose to do business with you.

Or they can choose one of your competitors.

What influences their choices?

While pricing is a complex subject that involves psychology, marketing, revenue modeling and more, customer experience is the easiest win you can get that will instantly set you apart from your competitors and let you charge higher prices. Take a look at these stats: In Oracle’s 2011 Customer Experience Impact Report, the company cites research that found that 86% of customers will pay more for a better customer experience.

It’s not a fluke; American Express found a similar result in their 2011 Customer Service Survey, with 70% of Americans willing to spend an average of 13% more with companies they believe provide excellent customer service. Customer happiness is the best customer retention strategy, period. A better customer experience adds real value to your offering, which in turn drives customer willingness to spend more money… again and again.
No matter what your business does, you can find ways to create a better, more valuable customer experience than your competitors.