Let’s make one thing really clear at the outset – most businesses in your niche look and sound exactly the same. Why? Because they are like 95 percent of all businesses – they are followers. After all, it has been said that 95 per cent of the world’s wealth is held by 5 per cent of the population.
And there’s a very good reason for that. Michael Gerber summed it up in his famous book, The E-Myth saying most of us have technician skills, some of us have management skills but very few of us have entrepreneurial flair.
So, if you feel that you are a good technician or good manager, it is high time you recognised that it’s not enough.
When good ain’t good enough…
There are a million good hairdressers, accountants, landscapers, dentists, butchers and bakers but no one gets rich keeping books, mowing lawns, changing light bulbs or cleaning tools. The money is made in creating marketing systems that deliver a predictable result.
You see, if you don’t have a product advantage like Apple’s iPhone or a systems advantage like Disneyland or McDonald’s, then the only way to distinguish yourself from your competitors is through “wow factor” marketing.
Now you might be thinking of simply cutting your prices, but keep in mind that unless you are a huge retail store, you simply cannot afford to market on price. I mean, the online world has made price comparison super easy and instant. So if you think you are going to distinguish yourself from your competitors by price, get ready to be beaten by a competitor (either online or offline) five minutes later.
Endeavour to stand out from the crowd
You have to be bold, creative and appreciate that the big money is made in marketing. The key is to create a marketing system that not only distinguishes you from your competitors, but also is easily repeatable and doesn’t involve your hands-on participation. Here are some tips and examples of how this works:
- Make it different – Add stuff to your products or services so that it is difficult for consumers to do price comparisons, for example free coffee with a sandwich or bonus conditioner with the bottle of shampoo.
- Make it faster – Netflix, 60 minute dry cleaners, 2 hour car service, fast executive physicals in hospitals and drive-through coffee shops are all capitalising on speed.
- Make it slower – Hand-wash car washes with cafes, 60 minute massages that extend to 90 minutes and cruise companies that stretch 5-day holidays to 7 days all use slowness to their advantage!
- Make it a cult – People love being members of tribes, so borrow a leaf from Apple who have created their worldwide tribe of loyal fans who have even created their own language! Keep in mind that members of the tribe will pay almost anything to remain part of the family.
Spend some time creating “wow factor” marketing differentials for your products and services and you will soon reap the benefits of being one of the 5 per cent of worldwide businesses that stand out from the crowd!
In a career spanning over 30 years, John Dwyer has worked with more than 27,000 businesses across 58 different industries, with his marketing ideas generating over $15 billion dollars in revenue. His clients include KFC, Caltex, 7-Eleven, Westfield and he has worked with high profile celebrities like Jerry Seinfeld, for the Greater Building Society’s advertising campaign. Dwyer is currently travelling Australia speaking at seminars and conferences inspiring businesses. To learn more about Dwyer’s marketing methods, visit Marketing Accelerator and The Institute of Wow.