We all have competition for our offers. That competition might come from another business offering similar services. It might be a business offering an alternative solution to our client’s problem. And it might just be the client’s decision to do nothing (or just a failure to act).
We need to be clear about what sets us apart and what makes us the ideal solution for our dream customer. And we need to be able to articulate that clearly.
Our customers have choices. We won’t be right for everyone. But we want the ones that we’re right for to choose us.
How will they reach a buying decision?
The better we understand how our ideal client will make their decision to buy the easier it will be for us to present our offer to win them. So, what criteria might they use…
- Price and value for money. Price is rarely the only consideration; many people will compare what is included and be willing to pay more for value added
- Delivery options… people want convenience around their busy lives.
- Opening hours. 9-5 Monday to Friday may not give them the flexibility they need. Are you open when you are in most demand?
- Fitness for purpose. Does your offer do everything they need it to. Will it work alongside what they’ve already invested in? Will it last for long enough?
- Added value… does your offer include extras your competitors don’t. Things like guarantees, easy servicing, continuity of service (e.g. a VA who can offer a colleague to cover for their time off)
- Will they be influenced by a seller’s position in the marketplace. Some people will always go for the premium offer. Others might choose the most sustainable option.
- Chemistry… emotion plays a big part in any buying decision; it could come down to personalities that click
What alternatives will they consider?
The more we understand our competition the easier it will be to differentiate ourselves.
- Who else will they consider? What do they do well? What are they not do good at? What do we do better than them? How are we different?
- What else will they consider? Someone wanting a bigger house may think about moving but may decide an extension would be a better option or may even think about engaging the services of a professional de-clutter.
Who do your ideal clients consult before they make a decision?
A considered purchasing decision is rarely made in isolation. Your buyer may ask others for recommendations or opinions at various points in their buying journey? They may consult others in order to make the final decision, or they may need the approval of others.
We might win a sale because we take the needs of others involved in the decision into consideration.
For example, if we are selling travel, showing how we meet the needs of other family members may swing the decision in our favour. If we are selling B2B showing we understand the Finance Director or Accountant may win us the business in competition with someone who doesn’t understand the different needs.
Differentiating your offer.
What do you do differently and why does this matter to your ideal client? This should be your core message. We need to differentiate ourselves without rubbishing our competition. We rarely make ourselves look good by making someone else look bad.
Here are a few suggestions for differentiating your offer…
- Whilst most of our competitors are open 9-5 Monday to Friday, we offer evening and weekend appointments, so you don’t need to take time out of your working day
- In my long career I have worked in corporate and public sectors and small business and in HR and in Marketing, so you get my unique experience to support your business.
- We have packaged our qualifications and expertise into a premium service that is only available to a small number of clients at any time. This allows us to guarantee you a response within 48 hours.
- I understand that your finance director will want to know that your investment is delivering good returns, so I’ll provide monthly reports that show how the money has been spent and the results achieved.
- Unlike many of our competitors, sustainability is built in at every stage from design, through production and packaging to disposal.
Can you differentiate your business in a sentence or two? This is what we’re asking attendees at our March meetings to do. This will help us to build on our understanding of their ideal clients which they shared last month.
Having this information at your fingertips can be really useful for marketing your business whether networking or not.
