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What sets YOU apart from your competition?

28/7/2013

 
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I ask business owners this question and I often get blank stares. Sometimes they might say that they haven't really thought about it, or they just shrug and say they don't know.

I ask from another angle: What are you, as a business, really good at? What do you do best? Who are your best customers? Then they start to understand and have clarity.

An IT company I use for my own business are really good at making sure their commercial customers have reliable computers that keep on going. They have great system checks to make sure the computer is working at top efficiency without losing data and that all information is secure from hackers. They also fix most problems remotely so their customers don't pay travel costs and incur time out every time something needs fixing.

Another IT company I know has a different set of strengths: they specialise in providing records that alert business owners if employees are spending too much time on social media or other sites rather than working. (By the way, a Kansas State University researcher discovered that between 60-80% of time spent on the internet at work has nothing to do with work.) This business also helps parents with software to control their home computers so that their kids don't come across things they shouldn't while online - big deal these days, if you have kids. 

Notice both these businesses are Christchurch companies in the same industry - but they have very different strengths and distinctly different customers. And doesn't it follow that they should be marketing in completely different ways to reach their target potential customers?

If you are still not sure what your strengths are, the best way to find out is to ask some of your customers why they come to you, or what they think you are good at. If you ask 10 of your best customers these questions, you will have a whole new insight into your business. 

The answer to these questions are your "point of difference" or "unique selling position". 

Once you have some ideas, then you will want to clearly define this into a statement - like these great examples:

When it absolutely, positively, has to be there overnight - FedEx
The best a man can get - Gillette
The best tires in the world have Goodyear written all over them - Goodyear Tires

All very clear statements saying why you should deal with their company or buy their products.

Once you are clear about what you are good at, you need to shout it from the rooftops - why? Because this will bring you a truck load of new customers. And not just any customers, but the most profitable ones that best suit your business. They will be better quality customers because they have responded to and appreciate what you uniquely offer. They see the value in what you do and won't be so concerned about price.  

Here is an example from the customers viewpoint. Imagine you jump in your car and discover your windscreen has a huge crack - it's broken and you have a sinking feeling it will need a whole new windscreen. You need your car for work and you are imagining a worst case scenario where you are without your car for weeks. You need it fixed fast, but you don't know who will be able to get it done quickly. You Google or grab the Yellow Pages. You come across a company who says "We are local; we source and install a replacement windscreen within 48 hours - we are the fastest service in Canterbury." It's a no brainer - you ring them and get the job done; they did it the same day; you are now a loyal customer and you tell your friends how great the service was. 

Just remember, until you get clear about what sets you apart from your competition, you are behind the 8-ball. Also remember, you can't be all things to all people - so don't try to be.

Action Point: Define your point of difference into a clear statement and start including that in your marketing and advertising. Then take note of how many new customers you get and if they are the type of customer you are looking for.

Do this well and you will be amazed at the results.

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You lost that deal. because you weren't in their world.

2/7/2013

 
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Have you ever spent a whole heap of time wooing a new prospect, putting together a detailed quote or proposal and you just knew they would sign on the dotted line - but the deal didn't go ahead?

This one was in the bag, at least in your mind anyway. Now you are thinking about all the wasted time and effort you put into this sale that has just slipped through your fingers. And you don't have a clue why. What was your prospect thinking? They must have it wrong. It just doesn't make sense...

We have all been there, so let's have a look and discover what went wrong.

The main problem is that you didn't get into their world - you were still in yours. In their mind, you didn't offer the whole solution to their problem or at least have a better solution than your competition. Result = No sale.

In my world as a business coach, I try not to assume that I know what every business owner wants. But we all just want more sales and more profits, right?... Well, no, the reality is often more complex. Many business owners do need more sales and more profits, but sometimes they need other things even more. For some the highest priority is to get more time with wife and kids, less stress, a holiday once in a while, freedom where the business does not rely on them so much that they can't take a breath. For these business owners, if I talk about more sales and more profits, it just sounds like more hard work - exactly what they don't want!

In a sales meeting/presentation, or negotiation of any kind, both sides must agree first on the objectives of the meeting. If you do not, you will be heading in different directions and often this results in the sale being dead in the water.

So how do you get into their world? You need to be a detective and search for the real problems your prospect wants to solve. And here is a clue - often the first answer they give, is not the answer you are looking for - there is another important layer that you still have to find.

Let me give you a real life example from a sales training I did last year. I'll recount the story for you - details are accurate but not verbatim:

A real estate agent had a customer, who we will call Jan, who was looking for a house with a "nice view". Jan had been around all the real estate agents in the area and no one had been able to find a house she was happy with. Our real estate friend showed her all the houses that she believed had the best view including looking over the city, looking out to sea, overlooking some beautiful open parks. But much to her frustration and surprise, every single house Jan was shown, almost immediately received the same response: "No, this is not what I am looking for".

Every option seemed to be exhausted and she seemed no closer to finding a house Jan was even remotely interested in. So the real estate agent had to try a different approach as this one clearly wasn't working. So she asked her client a different question: "All the houses we have looked at I thought had a good view, but you didn't like them. So that I can understand more clearly what you are looking for, can you tell me what you mean by a good view?"

Jan explained that her husband liked repairing old cars and he would do this in the driveway. She was sick of looking at half assembled cars and car parts when she looked out her kitchen window. Everything she has seen so far had a view of the driveway from the kitchen window. Suddenly, our real estate agent understood what Jan really wanted, and she now had the complete answer. The next house she took Jan to, she loved. Jan found a house, the real estate made a sale and everyone was happy.

Now Jan is a raving fan, and this is what she said to the real estate agent once the deal was done: "You were the only real estate agent who took the time to understand me and what I wanted - Thank You". Did finding Jan a house have to take that long? - NO, it just needed the right question.

Our real estate friend was never going to get there by assuming, only by getting into Jan's world. This is a true story!

Here are some questions that will help get you into the customers world:
  • What are you expecting to get from using this product/service?
  • What are the main benefits for you?
  • What is the main problem you are expecting to solve with our product/service?

Try threading these into you next negotiation or sales meeting - you will be surprised what you discover. It may be the difference between making your next deal or missing out.


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