It’s incredibly important to understand this; it will save you so much time. Now the next step is engaging them to buy from you and not anybody else over and over again!
STAND OUT FROM THE CROWD
Traditionally, whether you’re selling products or services, you need to make your offering distinctive and in a way that’s highly attractive to your target market.
To do this, you need to articulate clearly what makes your products and services so unique. Then you have to articulate what’s in it for them – what the benefits are.
Traditionally, to do this you’d compete on either the cost curve or the value curve. But this series of articles isn’t about addressing traditional methods of competing (even though you still have to use them).
Instead we’re about using your DNA Competitive Advantage to achieve greater customer loyalty, higher growth, higher margins and higher net profits.
So let’s return to “what’s in it for them” marketing techniques.
WHAT’S IN IT FOR ME?
It seems obvious doesn’t it, to explain what the benefits are for customers? Yet there are three crimes that businesses commonly commit:
Important as this is from a reassurance perspective, this is not the initial reason why people buy from you.
Actually they don’t care about you at all! What they want to know is how you’re going to improve their life and/or their business with what you’re selling.
Again traditional businesses will feature the benefits of the product or the service they’re offering. And, the more emotionally engaged the customer becomes with what you can offer, however irrational, they’ll pay more and want it straight away.
This is great and this needs to be done. But what I want to talk about now is not why your target market should buy your products or services from you, but why they should buy from your business in particular, again and again.
Yes the first reason for purchasing from you is what’s in it for them. But on its own that doesn’t generate loyalty in itself.
The whole thrust of your DNA Competitive Advantage is the unique relationship you form with your target market.
Apple has achieved a unique relationship with its consumers, as has Harley Davidson, and I’m sure you can think of others. Their customers have a blind loyalty to these companies.
Make no mistake, this is not an overnight achievement. It’s been done with careful attention over time to maintaining:
This careful attention is maintained overtime by being built on what I’ve called the “7 Brand Pillars”.
THE SEVEN PILLARS
To achieve blind customer loyalty over time you need to apply your DNA Competitive Advantage to the 7 Brand Pillars.
These Pillars are:
Charismatic brands which leverage all of these Pillars achieve phenomenal success.
Customers not only want to buy great products, they want to hang out with people they like. Loyalty with our personal friends is built on trust, shared interests and shared values.
The same is true for business – trust, relevancy (“what’s in it for me?”) and shared values.
It is very important to remember that loyalty is built on trust which in turn is based on consistency and authenticity – you just can’t pretend to be something you’re not!
Customers smell inauthenticity a mile off, particularly when the way you communicate and what you say is forever chopping and changing.
If you’d like to know more about these 7 brand pillars, email me (firstname.lastname@example.org) and I’ll send you my ebook 7 Pillars to Build Your Brand.
Michael Major can help you unlock and leverage your inherent competitive advantage. Follow his articles over the next 12 issues, answer his questions and email Michael on email@example.com for feedback.