Companies that sell on cost comparison end up losing in the end. It's very difficult to build a profitable and sustainable company when your primary strategy is to undercut the competition--because what ends up happening is you nickel and dime yourself to such a small margin.
You want to build a brand. Not a cheap commodity.
This is a challenge for every business owner, but one I know all too well. My most recent company, LendingOne, offers loans to real estate investors. Now, in all honesty, there are a dozen other competitors in our space that offer the same thing. Same kind of loan, same interest rate. So, we can't win on straight price comparison because then we're the same as everyone else.
I'll tell you where we do win, though: customer service.
While other companies may offer the same exact loan, we get back to our customers in minutes--whereas our competitors take hours, or even days. We take the time to build a relationship with each and every customer. We get them on price, but we keep them on service.