In the business world you will always have competitors. If you want to stand out from the crowd and attract more customers then you need to know why your business is different and special. In this video, you’ll discover how to make your prospects choose your business over your competition.
Highlights of the video:
00:02 - How to get your prospects to choose you over your competition
01:01 - You VS your competition – what’s different?
01:37 - There are 2 types of differences that we can create
03:52 - What is the biggest frustration people have dealing with your industry?
04:35 - Create some points of difference
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Customers need to know WHY they should use you over your competitors. [Click To Tweet].
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In this video you'll discover how to get your prospects to choose you over your competition.
Welcome to this week's business tip. My name is Rueben Taylor, Perth business mentor and founder of Business Wealth Educators.
Many of you would've watched some of my previous videos on how to build a marketing campaign. We are actually up to step four today. Let's just recap the first few steps.
Step 1: Ask the question 'Who?'
Step 2: Ask the question 'Where?'
Step 3: Ask the question 'What?'
If you want to re-visit those, go check out those past videos. Today is the next question which is all about 'Why?’ Why choose you? Why choose you versus your competition? Most businesses when asked this question start focusing on the features of their business. They focus on how long they’ve been in business. What they've been doing. And most businesses are not actually all that different. If I ask the question: How are you different from your competition? People say 'Well, our products are better quality' or 'We give better service.' But I can guarantee if I went to your competition and ask them the exact same question, they’ll give the exact same answer.
The key to differentiating your business is to create points of difference. How are you different from your competition? The reality is with business these days is that there are 2 types of differences that we can create:
- Actual difference
- Perceived difference
How can you be perceived as better, perceived as different in the eyes of that prospective customer? And so we start with some of those words like Quality and Service, but the reality is, the first thing we need to do is ban those words. Don't use them as part of your marketing because everyone's going to say that their products are better quality or service is better. We have to draw a big line through those. We don't want them anymore. Instead, we need to ask the question “What does that mean?” I remember doing this with a cake manufacturer and he said the same thing. I said, "How are you different?” He said, “Well, our cakes are better quality." I said "Great. Everyone’s going to say that they make the best cakes. How are yours actually different? What does quality actually mean in your business?”. Well he said "I actually hand-picked the berries, fresh from the market that go into the muffins before we start baking that day. Most people use packet berries, they're frozen and not as fresh.” And so we create a point of difference and he said "We hand-picked the ingredients fresh each morning to go into the muffins each day". We created a difference because that actually sounds fresh, that actually sounds like better quality. Let’s take the service example – I’ve worked with a real estate agent. When you ask the question "How’re you different?" “Well I give better service.” I said, “What does that actually mean?” “I always return my calls, guaranteed same day or at the very least the next day.” And I asked "How are you communicating that?" He said "Well I'm not." And we actually came up with the idea to have a guarantee - If I don't return your call within 24 hours, I'll pay you $50. So he put his money where his mouth is. And you can see now despite taking those little extra steps and asking the question “what does that mean?” We start to create differences in our business and we start to then position our business more favorably in the eyes of a prospective customer.
Here's a little secret - The best way to do this is figure out what are the biggest frustrations that people have dealing with your industry? If you were dealing with trades people, building a home, one of the biggest frustrations is - are they going to turn up when they said they would. What if you could guarantee that you would turn up on time? If they’re going to leave a mess, what if you could guarantee that you won't leave a mess? All the things that bug your customer or prospective customer - create points of difference around those and you'll start to elevate your business's positioning just by sharing that.
Here's your homework from this video: Write down 7 ways you are different from your competition. If you write them down and they sound about the same, ask the question 'What does that mean?' and start to flesh them out, put more detailed answers. Give examples so you actually start to create some differences and once you've got those points of difference, start to use them everywhere. Put them on your website, marketing, quotes, etc... Start using them in many places and you'll find you’ll start to differentiate your business and create those points of difference. They're important in the eyes of your customer.
Thanks for taking the time to watch this video. Remember to like, comment and share and I'll catch you on another video soon. Bye for now.
If you would like to read more articles, or would like to see the weekly video tips from Business Coach Rueben Taylor, please subscribe to our weekly video tips. Rueben also conducts Workshops and Seminars and provides business mentoring.