Markets are getting more competitive by comparing quotes these days. Business owners are cutting their prices down to become more competitive among their competitors because potential customers are looking for someone who provides lower prices than the others.
Spending money on a certain good/service sounds good, but lower prices are not always of a good choice as a whole, as it will affect the local market price regime and further, its economy. Rather than choosing cheap prices straightaway, here are some tips on how to make a better choice with reasonable prices when you hire a business.
You, as a customer who is looking for a fencing contractor for your fence repair, for example, are to compare three quotes basically. Who wins is dependent on you, but you usually go for who offers lower prices without proper research. Wrong!
Before choosing the right one for your fencing needs, do some research on those three fencing businesses in this case and answer yourself the below three questions;
- Are they reliable local fencing businesses?
- Do they have social media connections or a website that can be visited so I can see previous projects or reviews on their services?
- Check out other sources of advertisement, such as Yellow pages, TrueLocal or Google Business, to name a few. There are also customer reviews if the businesses are registered in that advertisement services, so check that out!
If you cannot find them anywhere else in the Internet, try to find them in local newspapers, magazines or flyers, but normally most of the local businesses have some sort of communication mechanisms so it won’t be difficult to find them from the Internet or somewhere else.
Now, let’s pretend that you find the one with good reputation, good branding, excellent reviews by other people who already used their services and lastly, higher prices. However, the one you choose by lower prices has no online ads, social media, reviews or other communication mechanisms whatsoever. What if things go wrong after a year or two because you used a cheap service? That’s fine, right? No! So, who would you choose? Answers are all yours, but remember this.“You get what you pay for”.
To sum up, there is so much other information that I could not mention, because I am not an economist. You will understand what I mean when you are in the same situation like the above. Back to the point, check what other people say about the business you are about to hire, no matter it is through online, offline or mouth-to-mouth. That’s fine if you say “I don’t care”. Fair enough, but it is worthwhile when you do a little research before you choose whoever and whatever, so do it for your own benefit.