February, 2008
Stand Out in a Crowd
The private hearing aid market is becoming increasingly competitive. While market size remains static, the fight for customers becomes fiercer and product pricing becomes increasingly aggressive. According to the 2005 Sage Heartbeat Survey, over two thirds of businesses believe that price competition will intensify over the coming years. However competing on price alone can be dangerous. So how do you stand out in a crowd?
Word of Mouth
Customers in our target group value service and support more highly than less mature customers. In fact research carried out by the Telegraph Panel Customer Loyalty Research in May 2006, shows that 99% of 55 to 64 year olds say that they often share experiences (good and bad) of companies, brands and services with family and friends. Any business that is providing its existing customers with great service and benefits, can expect positive word of mouth to result in increased sales and lower marketing costs.
So what practical steps can you take to ensure you get your share – or greater – of referrals?
To download our simple four step guide to swimming against the tide of lower prices please click below. ![]()
Stand Out in a Crowd
(PDF 149K)
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