The steps for achieving sustained success from your marketing and advertising starts by having something valuable to offer. The professional service business that delivers average services, or worse, cannot create a campaign that will result in an abundance of new business over the long haul without misleading their public. This provider will not be able to make specific, strong claims that a superior provider can. Should such a provider's advertising initially drive in business through gimmicks or generalized claims that are untrue, unhappy clients (customers or patients) will prevent that business from enjoying the repeat business and word-of-mouth referrals that are so essential for continuous business growth.
By innovating your business, you can make your business stand out from your competitors in terms of quality of services, customer service, convenience, consistency and/or value. The allows a marketing strategist who knows how to separate a business from its competitors to create marketing communications that will grow their market share. This provides the greatest opportunity to thrive despite stubborn competition and a weak economy.
The Blueprint for Competitive Advantage Innovations
Carry out the following steps thoroughly and you will be on your way to establishing competition-shattering innovations. You may need to repeat this process for each target market.
List your target market’s emotional hot buttons in order of importance. (Emotional hot buttons include the desires, priorities, fears, frustrations, difficulties, pain and/or annoyances people possess regarding selecting who to buy from and using your type of or service). If you are uncertain what your target market’s emotional hot buttons are, you need to conduct a survey to determine them.
List what you currently do in your business to respond to each emotional hot button.
Brainstorm innovative ideas to overcome each emotional hot button you are not effectively addressing. Consider what are the specific things an ideal business in your industry would do to alleviate or solve these problems or frustrations. Try to come up with at least 25 ideas. At this stage, do not consider whether your concepts are feasible to implement.
Review the list of possible innovations. Choose the ones that make the most sense to implement based on budget, effort and potential return on investment.
Ask your current and potential clients and referral sources what they think of your innovative ideas.
Contact your competitors to determine whether they already offer the innovations you would like to implement.
Examine each innovation and decide which to implement based on:
anticipated revenue (Make high and low projections. Get help from your accountant, if needed)
degree of ease competitors could duplicate and implement your innovation
how easy it will be to create a marketing campaign that highlights your innovation
Prepare and launch a marketing campaign to promote the innovations you have chosen.
Examples of Simple Innovations
Providing extended hours, especially if your competitors do not and have no desire to do so
Offering to meet your clients at their home or office, if it is customary for customers in your industry to come to you
Offering patients who are waiting to be seen soft drinks and snacks and having your staff bring them to your patients like a flight attendant would
Providing tax clients unlimited free tax planning advice that could reduce their future tax liability, and offering consultation appointments anytime from May 1 thru January 15
Providing a cap on the cost of your services, if you are in an industry that is known for not furnishing this
Providing longer warranties than your competitors are willing to do or could afford to do if they cannot match your quality of work
Your Next Step
By learning and correctly implementing the remaining steps of The Formula for Market Dominance (see our website), you will be able to create promotion that:
Holds your prospects’ interest,
Educates prospects on how to choose the right vendor,
Builds a case for what you provide,
Convinces prospects that you are undoubtedly the right choice for the type of service you offer, and
Gets your prospects to take action and buy from you when they are ready to make a purchase.