What sets you apart from your competitors? That’s one question we have asked hundreds of business owners and sales people we speak to each year. What we have learned is while many believe they have a unique growth strategy, most are mired in mediocrity.
Often, they answer either “our people” or “our customer service.” However, when we drill down on the “our people” response it usually leads back to how well their people serve the customers – customer service. This begs the question: since both you and your competitor are probably making the same claim, is customer service much of a differentiator?
Sometimes what we think of as our differentiator is actually part of a game called BS Bingo. It goes like this: when your sales person makes the typical claims about why your company is best – lowest prices, fastest delivery, and great customer service – they are filling the customer’s imaginary bingo card. But if what you offer isn’t what the customer needs or wants…. BS Bingo!
Your Unique Growth Strategy
How do you ensure your company isn’t playing BS bingo? Start by determining your value proposition.
A value proposition is:
- Something you do that nobody else can.
- Something you do better than anybody else.
In either case, if what you offer isn’t what the customer wants or needs, it’s not a value proposition for them.
How do you create a value proposition for your customer?
First, ensure you understand what they really want and match their need to your value. Best not to assume, but get measurable data because without the data, it’s just an opinion.
Next, ensure you have evidence that supports your claims. Meeting the first value proposition definition (Something you do that nobody else can) is less common; usually, in the eyes of your customers, you are up against competitors with similar offerings which is option two. Your sales team needs ways to prove what makes you special compared to similar offerings.
Evolve as Needed
Finally, measure what’s working and be willing to shift as necessary. Consider McDonald’s as an example of an organization with an innovative growth strategy.
McDonald’s has long taught its employees a mantra known as ‘QSCV’ – quality, service, cleanliness, and value. Beyond these pillars of customer service, the Golden Arches continues to successfully grow its brand, spending millions researching other factors like menus, store locations, and hours, as well as continually testing new and innovative ways to serve clients through technology.
Today, great customer service is table stakes. On-time delivery and friendly customer service are still critically important; however, it won’t matter how great the service is if there are too few customers. Leaders must balance the best customer experience while keeping an eye on the multiple variables that can change, such as people, customers, technology, competitors, and regulations. You must go beyond to ensure your company survives and thrives. TAC has helped hundreds of organizations successfully develop their market strategy. Contact us to start your journey.