Becoming More Valuable (so they are happy to pay) De-Commoditize Power #3
November 15th, 2017 // 1:24 pm @ Scott Manning
Of course, this magical super power of removing the commoditization label from your products, services, and business in general builds directly on the previous two.
This one is unique because it can come in so many different shapes and sizes. It can be completely based on your preferences or better yet on your customers’ preferences or even possible still on what you have available, your assets, skills and talents to create something of greater value.
This is not just about ‘being different’ or being seen as something more or become incomparable to other competition…this is not just about breaking the pricing link and barrier because you have so much uniqueness that they can only get what you offer with you…
The power behind becoming more valuable is that you can control how your customers perceive you and validate what they pay you based on setting your own value proposition parameters.
Here are a few examples to get you thinking…
Starbucks isn’t about coffee it’s about “the third place” (not home or work but Starbucks)… they are more valuable than just a cup of coffee.
But, that’s nothing these days. Because the new trend is of course artisan coffee and unique boutique coffee shops that have become more valuable than Starbucks because they are not about ‘the place’ anymore rather they have returned to be about the coffee – making one cup at a time personally just for you. The place we frequent behind where we live has specialty drinks starting around $7.50, they are small and they have no alcohol.
Restaurants go every different direction to fast food to quality food fast to make your own food to the farm to table and everything in between. More value is about more than just the quality or the experience, it’s about uniqueness and customization.
My Dentists add value with experience, with niche services not usually available in other places, with education and with personality. They step over commodity and price by being unique, different and going above and beyond with the value they provide.
But this value can’t be kept a secret, otherwise it’s not valuable at all. You have to tell, sell, educate, present, promote and never stop talking about all the benefits and values that you provide. It doesn’t have to be in an obnoxious or even obvious way but it has to be there otherwise people – your customers, clients, patients – don’t remember.
You really have to ask yourself three questions…
1 – What can we do more, better, differently than anyone else
2 – What are we providing for free that we think is special and unique but we don’t talk about it or use it to our advantage
3 – What else do our customers want, need, deserve to have that would make us actually be more valuable to them
Then you also have the flip side to this coin which is creating pain of disconnect so that your customers will never want to leave you. Not only because of the benefits they get and the relationship you have (ideally that’s the real reason), but just in case because of the pain they would go through if they did either leave you or consider switching to someone else who thinks they are capable of doing what you do.
No one wants to think about this but you have to. You have to play offense and defense when it comes to ensuring you are never seen and actually aren’t a commodity in your customers’ minds.
Oh and just to complicate things a little more – remember they are only your customer after they pay you. So everything leading up to that moment in time has to be conveyed and in place well before.
Most everyone leaves all the good stuff and information until after they pay and that’s too late. Use these selling advantages you are coming up with and creating, honing in on and enhancing from the past few weeks in every facet of your communication, marketing, messaging, sales process and experience with your customers, clients and patients BEFORE they become one.
That’s the real secret and the key to making the magic happen by becoming more valuable to the people that keep you in business.
Category : Blog
