November 26, 2013

Try Fair Pricing

Ok folks, it's the day before Thanksgiving - and you're not doing much anyway, so why not give this little ditty about Target a read ... click here ... go ahead, I'll wait for you.

It's a fair argument, one that screams for an "omnichannel solution", as the kids say.

Yes, an omnichannel solution would work - an in-house app linked to a bunch of data linked to 3rd party apps would get the customer the lowest price and would get a product shipped to a home on the same day. Woo-hoo!

Here's my question for you, the intrepid Executive / Marketer / Analytics Expert. Why not offer the best price 24/7/365?

When is the last time you've been in an Apple store, with customers using their phones to price check to make sure that the iPad is truly at the lowest price?

When is the last time you've been in a Bose store, with customers using their phones to make sure they can't get a Wave radio at a lower price at Best Buy?

Omnichannel ... it's a solution to a problem that doesn't have to be a problem.

Think about it. Why does the customer in the checkout line at Target have to go download some wonky app to make sure she is getting the best price? Honestly? Why? 

She has to do this because she can't trust Target. That's why. 

She knows Target is probably ripping her off. 

That's why she has to download a 3rd party app. And then she has to ask the checkout associate for a better price, and the associate gives her the better price, and then everybody in line behind the woman knows they, too, are being ripped off. Then they all ask for the best prices.

Omnichannel solutions work if you were already cheating the customer.

Fair pricing works for every customer.