We all nod our heads when someone talks about the need to deliver distinct, compelling value to our markets. We just assume that our value is as distinct and compelling as it was last year, or the year before or….
But is our value really distinct? And if it is distinct – is it compelling to our markets?
All too often our distinction becomes stale. We get comfortable, resting in the laurels of our past. That’s human nature. We also tend to get stuck in the followers mode – watching what our competition offers, matching them. Assuming that being equal makes us competitive. We follow our favorite customers advice and drink our own Koolaid.
We forget to be compelling and distinct.
But we don’t know we’ve forgotten. We still believe our “value” is distinct – that our markets are crying for our stuff. We don’t see the gravity as we set ourselves up for discounting and price wars, for shrinking margins and reduced revenues. We get stuck in the G’s and wonder why we’re not flying.
Distinct and compelling value is the key to business success.
Sit back, ditch your status quo and start with a clean brain. Take some time and think about your value. Be harsh, be realistic and above all, be honest. Right now – ask yourself the following.
- How is your value distinct? Don’t just rattle off your knowns. Stop and really THINK about it. Take a hard look at what you believe to be your value. Is it something that resonates with customers TODAY, or is it yesterday’s news repeated. Dig deep and ask yourself:
- ???Do I know that’s true? How? When did I last check it with the market at larges – not just my top best favorite customers?
- Could I deliver even more distinct value? How?
- Who else claims this value? How is my value distinct – and compelling to buyers? If it’s not, how do I create distinct value?
2. Look around you. The world is filled with useless noise, some call it marketing. Business after business is making the same claims, promising the same results. Customers can’t tell one from another. As the noise increases, customers are tired of listening.
That means you have to be truly distinct. It’s the way to rise above the noise. You have to be able to hit a prospect right between the eyes with a problem you solve that they really need solved. Can you do that today? In 20 words or less? 10 words? 5 words?
If not – ask yourself:
- How is my value distinct compared to alternative solutions? Where’s the proof?
- Is that true distinction or “just a little different” kinda value?
- How can I deliver better value?
- How can I communicate my value to my customers?
3. What’s compelling? Let’s say your value is distinct. That’s not the only criteria for success. You can have the most distinct value in the world – but if no one cares about that value you won’t be successful. Just because you think something is cool doesn’t mean your customer does. If value doesn’t compel buyers to part with dollars, your value doesn’t matter. Ditch it and think again.
If you find your value just might be waning – check back tomorrow. We’ll be discussing the best way to get yourself focused on creating distinct, compelling value – the fuel for your 2011 business growth.?
