Do you wonder why you’re always competing on price? Struggling to get in front of great prospects? Can’t convert leads to customers?
Be in no doubt; it’s a challenge every business encounters, but simply throwing money at the problem isn’t going to work.
You need to differentiate yourself from the competition.
A Walker study found that at the end of 2020,
‘Customer experience has overtaken price and product as the key brand differentiator.’
As business owners, we must turn our attention away from competing on price and focus on value.
But what do your customers truly value?
Covid-19 has delivered a tough year, and it’s seen a significant shift in customer behaviours and patterns. There have been rapid increases in online shopping, work-from-home, staycations, food deliveries, doorstop entertainment and everything in between.
Customer values have changed; it’s time to get up to speed!
Even if you’re in a highly competitive industry, my four-point strategy will help you build a powerful reputation, cut through the noise and attract the customers you need while delivering exceptional value and an enviable customer experience.
Instead of chasing customers, they’ll be seeking you out.
Sound good? Let’s get started.
- Defining what customers REALLY want
There’s only one way to find out what your customers want: ASK them.
Salesforce’s connected customer survey suggests
66% of customers are now expecting businesses to understand their needs on a unique and personal level
Whether you use surveys, call centres or a custom online platform, you must take the time to understand what motivates your customers to buy.
One of the good things about the pandemic has been the surge in companies going online rather than in-person. This has meant the volume of insightful data has increased exponentially. However, we must read the data accurately to understand your customers fully and then implement strategies to deliver those needs.
Your data, no matter how you retrieve it, is like gold dust. It will help you to re-deliver a new customer journey and transform your value proposition.
So what questions should you be asking?
My top tips!
- Every single one of your customers wants you to solve their problems and pain points. Find out what those are!
- Every single one of your customers wants simplicity. It’s your job to remove the hassle and stress and make it easy for them to say “Yes! I’ll buy from you”.
Ask them, how can we make buying from us easier? - Every single one of your customers chose you for a reason: Ask them why they picked you over your competition.
- Every single one of your customers wants to tell the world how great you are. They want to make a good choice, so help them do that!
- Create a USP
Now you know what your customers need, you can define your Unique Selling Point.
Using the information collected above, begin with your customers feedback on what they believe makes you stand out from the crowd and get creative.
My top tips!
- Your USP needs to be assertive.
For example, if a customer tells you, “I chose your clothing brand because everything is sourced and made in Britain.” You could define a USP which states
Made in Britain, loved by you.
- Tell them how you solve their problem.
A classic example is Fedex
When it absolutely, positively has to be there overnight.
- Consider using social proof or statistics
Head and Shoulders stand, well, head and shoulders above the rest doing this (pardon the pun!)
Clinically proven. Up to 100% dandruff protection.
Now it’s time to capitalise on it. Often the most overlooked aspect of a USP is leveraging what it can do for your business!
- The Customer experience (CX)
CX has become the number one reason that people choose to buy from you, so it’s time to focus on what you deliver, how you deliver it and the follow-up.
A recent PwC survey found,
86% of buyers are willing to pay more for a great customer experience.
These customers aren’t just going to choose to buy from you; they are actually going to pay more for the privilege, but only if you get the CX right first time!
Don’t forget the employee experience significantly impacts CX, so talk to your employees and get their feedback on what’s working and what’s not, including insights from the frontline.
My top tips!
- Using the data you acquired above, develop products and services which enhance the customer experience.
- Look for roadblocks on the customer journey and obstacles which prevent decision making.
- Create simple processes for frontline workers to feedback CX insights up the leadership ladder.
- Act on feedback. Make the necessary changes to improve CX.
- Anticipate their needs.
- Assess, review and keep working on improving the experience.
Customer experience is a job that continually evolves and never ends, but the rewards can significantly impact growth and your bottom line.
- Cutting through the noise
Now you have everything you need; it’s time to speak to your people.
The most important thing to remember at this point is WHO you are speaking to?
You’ll be forever shouting and trying to cut through the noise on social media, advertising and the like.
BUT, if you can pinpoint your ideal customer, you’ll be on the fast track to attracting, qualifying and converting them into loyal followers.
My top tips!
Be crystal clear on
- Who are your ideal customers?
- Where do they hang out?
- How do they want to hear about your business?
- Do they prefer to buy online, in-person, self-service or a combination?
My four-point strategy is designed to be simple yet results-driven. Don’t over complicate matters and get bogged down with what your competitors are doing.
It’s important to know what they are up to and be mindful of their presence. BUT this is your business, and it’s DIFFERENT from their business.
What works for them won’t necessarily work for you because you’ve clearly defined what makes you STAND OUT FROM THE CROWD.
Be bold, be decisive and most importantly, be DIFFERENT.
If you’d like help to drive your business forward, get the results you want and be clear on your future, you can also book a free strategy session with me to discover your business point of difference. Contact me at businessgrowth@actioncoach.com or call
