Differentiation in a time of disruptive change requires real “out of the box” thinking…
Harvard Studies show that 46 of 51 categories of business are commoditized;so consumers believe products and services in these categories are interchangeable, therefore they compete on price. This reduces margins and ROI, increases marketing costs, reduces brand equity and customer loyalty, reduces employee commitment and productivity and lowers stock price.
Yet new technology, the 24/7 connected empowered customer, changes in consumer reading, listening and viewing habits, the explosion in one-on-one enabled new media,all provide unequalled opportunity to differentiate from the competition. Differentiation requires a combination of awesome customer service at every touch point, added value, thinking outside the box to provide a WOW experience and relating to individual consumers personal preferences that are enabled by the extraordinary technology tools and new media to gather intelligence (data plus analysis).
Many companies rely on R&D to differentiate themselves by developing new products and improving old ones. In reality, it’s not what you sell, but how you sell that matters. Prospects need to know not only why to choose you over your competitors, but why they need to make a change in the first place. With greater competition you can no longer count on innovation alone to set them apart. Almost every move you make is copied by competitors so consumers rely on price or just choose to do nothing.
Don’t enter into a war of features and benefits when medical research shows all decisions are initially made emotionally. Unless your differentiation is decisive, the real questions customers are considering are “why change” and “why now.” This requires an entirely different approach to your differentiation message, selling tools and sales training.
Bob Pritchard shows you how to use outside the box thinking to clearly define your Consumer Purchasing Benefit and articulate your differentiation message. He shows you through simple, but powerful examples, how to own the category, improve your margins and improve ROI.
Find out why Tim Draper, the world’s leading venture capitalist. . . Hotmail, Skype, Baidu etc … says “Pritchard demystifies all that is sacred in Business and Marketing. If you follow him, they will come”
Bob Pritchard BSc. AISMM, CSP
Thirty years as a global business troubleshooter; 1940 business workshops and presentations, including 91 Fortune 500 companies in 63 countries on Change, Leadership, Customer Service, Thinking Outside the Box and Motivation: Daily business newsletter to 1,730,00 business executives. Business Radio Host with an audience of 550,000 business owners and executives. www.marketforceone.com