KEYPOINT: We’ve been led to believe our products and services differentiate our businesses in the eyes of the customer…NOT TRUE! Believing this is a LOSERS GAME…the odds are stacked against the company. This is a COMMODITY GAME. The WINNERS in business figured this out and play a different game…getting their customers to FEEL IMPORTANT, FEEL like they MATTER, and FEEL SPECIAL. And their customers reward them with LOYALTY and ADVOCACY…the HOLY GRAILS for any business.
KEY QUESTION: Are you competing today based on your products/services and focusing on the COMMODITY FACTORS, or are you focused on how your employees make your customers FEEL?
ANYONE can beat you in the PRODUCT/SERVICE game with enough money and resources. Since we transitioned to a true world economy over the past few decades, competition has reached an all-time high. No longer are we competing in our backyard. We are competing globally. Now anyone from around the world can create a better and less expensive product/service and sell it worldwide.
The pressure this puts on businesses is immense. The ability to compete is more complicated and complex than at any time in history. And the result is lower margins and lower profitability. This isn’t industry specific…it affects every industry on the planet. I’m pretty sure you are experiencing this in your own business in some way.
There are a myriad of examples in our everyday life…
All of the businesses affected by these NEW ENTRANTS lost because they were competing on their PRODUCTS/SERVICES…which meant they were competing in one or more of the COMMODITY FACTORS such as PRICE, TERMS, AVAILABILITY, and LOCATION.
Customers are choosing who to buy from based on these COMMODITY FACTORS. They aren’t loyal to the businesses because these businesses weren’t giving them anything different than the new entrants. The result is that companies have to compete on one or more of these factors to stay in business. So, customers left and followed the new deal when a new entrant offered a better product/service or a similar one at a lower price.
There is a solution…one that allows you to STOP PLAYING the COMMODITY GAME. Businesses that have figured this out are competing on an entirely different level…they have GONE BEYOND DIFFERENTIATION™.
When a business competes using DIFFERENT FACTORS, they go BEYOND DIFFERENTIATION™. They elevate themselves to an entirely new level…one that puts them above the PRODUCT/SERVICE COMPETITIVE BATTLE to one that delivers what their CUSTOMERS TRULY WANT.
Going BEYOND DIFFERENTIATION™ creates massive differentiation by creating a CULTURE that MAKES THE CUSTOMER FEEL SPECIAL, IMPORTANT, AND LIKE THEY MATTER…which is exactly what EVERY CUSTOMER WANTS.
The BEYOND DIFFERENTIATION™ FACTORS that elevate these extraordinary companies above their competitors are…
These three areas go well beyond your product/service. They are the added layer that TRULY DIFFERENTIATES you from your competitors. They allow you to ELEVATE YOUR BUSINESS ABOVE YOUR COMPETITION. They take you out of the COMMODITY GAME and put you into an entirely new level that your customers not only want but also expect.
QUESTION: When you buy products/services for yourself, do you care about how their employees treat you and make you feel?
I bet that you definitely care about HOW THEY TREATED YOU. If you’re honest with yourself, I’m sure you care more than just the price. Most people want to FEEL LIKE THEY MATTER. We give hard-earned dollars for a particular product/service AND THE EXPERIENCE. We want to feel like the business actually cares about us spending dollars with them. And we care about how we will be treated BEFORE the sale, DURING the sales process, and AFTER we have purchased the product or service.
For example, even when I shop for a commodity product at HOME DEPOT, I still care about how I’m being treated. Home Depot is one of the best examples of a COMMODITY BUSINESS. They only win in the market because of their location and prices. Given an alternative, the majority of people would prefer not to shop at Home Depot. I would prefer not to shop there…I only do it because I have an immediate need, and they have a great location near my house. If I have more time or need expert advice I always go to the local hardware store further away. It’s worth paying a few dollars more and driving further to be treated like I matter, get my questions answered, and have a better experience. I CARE HOW THEY MAKE ME FEEL. My bet is you do as well.
QUESTION: Given a choice, would your existing customers still buy from you if you increased your prices or changed your location because they love how your employees treat them?
This is the critical question. If your customers would, you give them an experience demonstrating they matter, you care about them, and they feel valued. If your customers wouldn’t buy from you, you are most likely competing on one or more of the COMMODITY FACTORS. This is a great self-assessment to do for your organization.
Ask yourself, as a consumer, the same question. Would you pay more or drive a little further if you knew you would be treated like you mattered, like their business truly cared about you and gave you an incredible, WOW EXPERIENCE? The research shows over 80% of people want to be treated this way…they choose the way the business MAKES THEM FEEL.
When a company focuses on how they make their customers feel, they BUILD LOYALTY AND ADVOCACY…the ultimate goal of every company. Building loyalty and advocacy by having a CUSTOMER OBSESSED CULTURE becomes their business's driving force, not always trying to win the product/service game. It is the driving force in building their CULTURE.
Using my example of the local hardware store vs. Home Depot, you can see that I am a LOYAL ADVOCATE for the local hardware store…not Home Depot. I go out of my way to tell others about the local hardware store whenever they have a need and want to feel like they matter. I am their ADVOCATE, and I TELL OTHERS. I DO THEIR MARKETING FOR THEM!!
With the HIGH COST OF CUSTOMER ACQUISITION today, why would you not want to have a team of customers doing your marketing for you? This is FREE MARKETING and sales…FREE. And when you couple this with the fact customers are willing to PAY MORE for this experience, why would you not want to change your culture to one your CUSTOMERS LOVE? They will reward you with HIGHER CUSTOMER LIFETIME VALUE and PROFITABILITY!
What To Do Next...
Did this make you think more about how you are treating your audience of prospects and customers? If so, you’re ready to take the next step of doing something about it. It starts with analysis…learning where you are today with how your customers feel when interacting with you. Find out WHY they feel the way they do…it will open your eyes to how your customers really feel about working with your company.
Once you know how they feel, determine WHERE you want to be a year from now. This will give you a tangible goal to work towards. Then learn HOW you can get there…how to go BEYOND DIFFERENTIATION™. I have a ton of resources on my website (WOM10.com), you can read my latest book, and you can read my blog posts. These will give you an excellent foundation to start building a CUSTOMER OBSESSED CULTURE that will elevate your business above your competitors…guaranteed!
If this is what you want for your business, you can get it! You start by deciding to create this kind of culture and to incorporate the CORNERSTONES to go BEYOND DIFFERENTIATION™. Solid knowledge of what it takes to GO BEYOND DIFFERENTIATION™ is a great place to begin your journey.
As usual, if you have any questions or need assistance along the way, feel free to shoot me an email or give me a call, and I’ll be happy to answer your questions or give you some guidance…complimentary, of course. I want you to create massive LOYALTY and ADVOCACY in your own business and become the envy of your competitors…helping you GO BEYOND DIFFERENTIATION™.
