Learn to dominate your market
It doesn't matter who you are or what you do, if you want to know how to succeed in business I can tell you this…
You're going to have to get to know your competition and know that they're going to be worthy.
There's always going to be someone who's going to be better than you. And yes, let's get real, there's usually one or two of them who are creaming it in the market as a result!
There’s a brand with a better domain name, a blog that's got more readers, an e-commerce site with more customers, a consultancy with more consultants, accreditations and certifications, and so on.
Am I right?
Now, it’s tempting to think they got there just because they got lucky. And, whilst fortune just might just have played a role in their growth, you and I both know that their continued success isn’t about luck. Instead, it's because of several key things – one of which is this:
They're better at marketing than you!
BAM! I said it!
Those who win in the game of business aren't necessarily the best at what they do, but they're perceived as being the best at it and it's usually on account of having better marketing.
You can bet that they've also got the best value propositions and they know how to use them too.
So let's get real for a moment….
What makes you valuable?
This is key.
People won’t ever buy from you if they don’t understand why they should. In other words they'll only pay attention to you if you're communicating a strong value proposition.
Now I don't want to lose you with marketing terminology (it's a bore), but in case you're wondering what a value proposition is, I'll fill you in.
A value proposition is a sentence or a paragraph that includes a believable collection of the most persuasive reasons why your target audience should notice you, and take the action you’re asking for.
Here are 2 examples:
1. We deliver high quality face-to-face appointments with key decision makers in target accounts that you've selected, on a performance basis i.e. you pay only for the appointments you get with the clients you want. No set up fees, retainers or expensive daily rates.
2. We deliver the maximum cyber security protection from your spend on a control. And we prove it.
Once you've got your value proposition figured out, you can use it as the basis for all your marketing messages.
So, I've got to ask you this….
What's your marketing message?
Before you answer, let's look at an example. I'll use a consultancy and scenarios I see time-and-time again.
Watch the video or skip if you prefer.
If your consultancy has the run-of-the-mill service portfolio, standard prices, average lead times, reasonable customer service, and a static website, why would anyone buy from you? Surely there's a competitor who beats you in at least one of those aspects? Nothing stands out above average.
However, if your consultancy has the most highly accredited consultants but the other things are just average, then the buyers who value using highly accredited consultants have compelling reasons to buy from you.
Apple doesn’t have the largest product selection.
Amazon isn’t the most prestigious.
Aston Martin’s aren’t the cheapest. (hear me sob)
I hope you're getting the message!
My point is this:
You don’t have to be the best in every way but if you’re the best in at least one way, you’re going to be the best option for the buyers who value that aspect. And, you're going to stand out from the crowd, which makes it easier to sell to the buyers who value that aspect.
Remember buyers buy from you or your competitors for a variety of reasons. Something has to make you the best option for your target market otherwise, they've got no good reason to buy what you’re selling.
So, in order to maximise your opportunity you've got to know what your target market – your avatar – wants from the start, and then you have to deliver it to them impeccably and exceed their expectations. Furthermore, as I said in a former blog ‘Warning Business As Usual' – as an experience.
So start always from the view point of:
- What do my clients need? (needs)
- What do they want? (wants)
- What do they have to have? (desires)
If you're not sure on these points just ask some friendly target prospects or tap into the places they hang out and you'll be sure to gain some valuable information. For example, are they on Twitter, LinkedIn, Google+, Facebook, Pinterest, Instagram etc? Do they belong to any groups? Do they blog? Are they featured in the press? Summarize your findings.
And, if you're lucky enough to get in front of them, here's a great question you can always ask:
“What keeps you up at night?”
Now I want to hear from you…
Tell me what your thoughts are on how to succeed in business. Do you have any great tips? Please share your stories and experience here, and if you've got a question, just pop it down here.
Thanks for being a sport and participating!
With love and gratitude – as always,
P.S.
Finally, if you know someone who'd LOVE the insight from this how to succeed in business post, please send them a link. You’ll find solo entrepreneurs, consultants and yes, even sales and marketing managers who manage people who'll be interested to hear about this.
P.P. S.
If you want to learn how to grow your business, then I'm promoting Marie Forleo's B-School right now, and as part of this I'm offering an exclusive bonus. The details will be revealed very soon. Click this link if you want in on the action.
