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.
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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