Value proposition: 7 steps to attract customers like bees to honey
Ok so the market is picking up but is consistent growth realistic in this market?
Do you fear that, if you increase your prices, then your customers would simply leave in droves?
If you’re reading this, a part of you knows there must be a better way. A way to see impressive growth year after year. A way that will allow your business to really stand out in the market – to shine.
There is a better way …. Companies out there are growing fast and earning good margins. Yours can too.
Copying others kills profits
The problem is that, to customers, most suppliers look identical. It seems like a fog!
Yes. They are trying to make progress and they need help but, because companies chose to copy each other, they do not know who to choose! Billions are wasted each year because customers do not getting the value they need.
Consider the banks for example. If you took the logos away, could you tell them apart? Their call centres process calls in the same way. The services are identical. Now consider telco firms…… office supply firms……. accountants…… web houses….. or even your industry.
Can your prospective customers see your business for the fog? How can you tell for sure?
Well, if they are spreading the word, sales are growing and margins are good then your business is the honeypot it should be. Yet, if your sales are low and your margins tightening then your products or services are just commodities. You are part of the fog.
Sorry if that sounds harsh….. You are better off knowing because now you can do something about it. My business used to be there too!
Companies are growing – because they are honeypots
You see, some companies are growing at 15% or more year after year right through this tough economy. Each and every one beams out as delicious honey. An example is Slingshot SEO. They were a creative agency but realised they were in a fog. So they worked out where they excelled, focusing on search engine optimisation (SEO). They did not stop there. They decided to make each and every one of their customers successful and able to dominate their industry. They created software to take their SEO into a different league. They hired the very best SEO people. They pulled out all the stops. They grew at 3,597% over three years….. Wow!
I could give you many other examples of businesses that are growing as powerfully and successfully – even in industries that are on their knees.
7 steps to turn your business into that honeypot
- Chose the customers of your dreams.
Decide which customers you most want to work with. Choose a specific market . Be as precise as you can – selecting customers who will most appreciate your business’ strengths, who can bring you the margins you want and who you enjoy working with. Push the boat out here. Forget what others do. Give yourself the freedom to define the future your business deserves.
- Find their pain.
Spend time with those people. Get under their skin. Ask them where they are headed and what gets in their way. Persevere until you know exactly what wakes them up in the middle of the night in a cold sweat. Note: Do not limit your thinking to the pain that is relevant to your business or you will miss the massive value of this step.
- Stand in their shoes. Putting yourself in their shoes, ask yourself how your business can help to resolve, or greatly ease, their pain. Forget your existing offering and start from a blank canvas. Define, in very concrete terms, what value you could offer that would make all the difference to them. Make it so specific and tangible that you bring it to life.
- Stand back.
On a scale of 1 to 10, where 10 = “in the eyes of those ideal customers, this value would help them so much and be so unique that they would swarm to you”, where would you score your definition? If it is less than a 10, what will it take to close that gap?
- Test it.
Select a few trustworthy potential customers and see how they react to your definition. If they score less than 10/10, describe what you think worries them, ensure it really resonates and ask what would close the gap.
- Not marketing, delivery.
Before you make any marketing claims ensure your business can deliver this value each and every time. It is the consistent delivery that will get customers flocking to you in droves, telling their friends and colleagues and willing to pay good margins.
- Spread the word.
Once you are absolutely sure you can deliver that 10/10 every single time, spread the word. Shout it from the rooftops. Do whatever it takes to ensure that your ideal target understands exactly what you offer – where the honey is. Describe their pain so they know how well you understand them.
It is true that these 7 steps take quite a lot of work.
That is good news. Your competitors (even the ones that read this) will not do them properly. If you make them work in your business, then you will become the envy of all your competitors. Your business will always be in such superb demand and your profits will be so good you will wonder why it ever felt tough.
Your customers are in a fog. They are crying out for you to create that honeypot. They need your help. They are desperate for you to create that 10/10 offering.
So what are you waiting for? Go and become that honeypot.
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