| There's a little silent refrain that goes on in people's | | | | done online through multimedia webinars and |
| minds whenever you bring up differentiation. I think | | | | Teleseminars, while you go the traditional route with |
| that for many business owners, its almost an excuse. | | | | on-site training. |
| "It's different in my industry; it's hyper-competitive | | | | These are just a very few of the ways you can |
| and it's such a mature industry, it's a waste of time | | | | differentiate through method focus, delivery method, |
| pursuing differentiation". | | | | areas of emphasis, etcetera |
| I want to introduce you to a concept I call the 4P | | | | Let's go on to the 4th P which is Passion |
| framework, and it's very simple. | | | | Passion here is the ultimate icing on the cake when it |
| This framework is made up of 4 elements. | | | | comes to differentiating your business. Passion has to |
| People, problem, process, passion | | | | do with the unique way in which your business injects |
| People represents the customer profile, the target | | | | emotional selling into your branding and marketing |
| market segment that you choose to do business | | | | communications. Years ago, the Government |
| with. It's the first element in your overall | | | | Employees Insurance Company had a brand profile |
| differentiation. | | | | that was as boring as it gets. Today, GEICO is |
| The 2nd P represents Problem. What problem of the | | | | recognized for the Geico Gecko's continuous |
| people you chose will you be solving... So let's say | | | | insistence that 15 minutes can save us 15% or more |
| that you and I both decided on starting a new | | | | on car insurance, and for their highly entertaining |
| business working with dentists. That means that the | | | | campaign that repeats that switching to GEICO is so |
| people, our P would be Dentists...for both of us. | | | | easy a caveman can do it. |
| But if I'm a business growth consulting firm, and | | | | Passion is where so many small businesses make a |
| you're a dental office design firm, then we're solving | | | | mistake and turn their natural advantage into a |
| 2 different problems for the same people. Now even | | | | distinct disadvantage. So many small business owners |
| though we're serving the same market, we'd be | | | | are mistakenly led to believe that branding means a |
| complementary businesses rather than competitors. | | | | lack of personality, and a transition to slick but |
| Now since we're talking about differentiation, this | | | | faceless marketing that marks so much "Big business |
| example is probably a little too easy so let's step it | | | | advertising". |
| up a bit. | | | | Countless research studies have shown that people |
| What if you and I were both business growth | | | | make their buying decisions based on emotion, and |
| consulting firms and we were both targeting Dentists. | | | | then supports that decision by logical arguments. |
| Here's where the 3rd P would come in as a | | | | Some of the simplest ways to inject emotional selling |
| differentiating element. | | | | into your marketing communication is to articulate a |
| The 3rd P represents Process - And by process I | | | | core emotional epic. Mary Kay built a half-billion dollar |
| mean your unique process or approach to solving | | | | business on the back of her touching story of being |
| your target customer's problem or delivering your | | | | a single mom and entrepreneur struggling to make it |
| ultimate benefit. If business growth is our ultimate | | | | at a time when women were barely allowed in the |
| benefit, your primary lever or tool might be strategic | | | | workforce. |
| marketing and mine might be business networking. | | | | Another way to differentiate yourself with emotional |
| To explore just how much power of differentiation | | | | selling is to personalize your marketing. Put some kind |
| you get by layering the 3 Ps, let's look at a different | | | | of human face on your company. Even a company |
| target market. | | | | as big as Southwest has been able to stay personal. |
| Let's say our 1st P was mid-sized networking | | | | Recently, they launched a "Bags fly free" TV |
| technology companies and you and I were concerned | | | | campaign that made lovable heroes out of their |
| with their business development and growth needs. | | | | grounds crew and bag handlers. If it's good enough |
| My Unique Process might be to show these mid-sized | | | | for Southwest, why isn't it good enough for you? |
| networking technology companies how to leverage | | | | One last note on emotional selling is that it should still |
| internet marketing in their business-to-business | | | | answer a "What's in it for me?" for the clients. Note |
| marketing, while you may concentrate on how they | | | | in the earlier GEICO example that the underlying |
| can grow their business through improved | | | | promise is still - Convenience, savings, and easy!! |
| performance from their sales force. So while I would | | | | Note that the Southwest commercials were still |
| be offering comprehensive internet marketing | | | | highlighting the convenience and savings of having |
| consulting, you might be offering sales training or | | | | "bags fly free". |
| sales management consulting programs. | | | | If you study these 4 elements - People, Problem, |
| This differentiation by offering a different process or | | | | Process and Passion, you'll find multiple points of |
| solution has so many different variables that you | | | | potential differentiation for virtually any business |
| should never seriously run out of options for | | | | activity you want to undertake. Whether you're |
| differentiating your business. Even if you and I were | | | | starting a new business, contemplating a change in |
| decided to compete in the Sales training niche, I | | | | business strategy, or rolling out a new product or |
| might differentiate myself by highlighting a branded | | | | service. |
| and proprietary teaching system, learning method, or | | | | Review this video, apply these lessons to your |
| what have you, or I might differentiate myself by | | | | business, then go out there and stand out from the |
| the medium of delivery - maybe all our training is | | | | crowd. |