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Casual Articles - Differentiate or Die
A 5 POINT STRATEGY FOR ENSURING YOUR JOB SECURITYThink Job Security is a thing of the past? Think again. While it may be true that no one is exempt from a downsizing, layoff, or unexpected re-organization in today’s economic climate, that doesn’t have to mean you have no job security. Today’s workers simply need to redefine what job security really is given the competitive environment we live in, and where security comes from. You can (and should) have a sense of job security, but it won’t come from your employer. You must give it to yourself. Your number one priority, if you wish to have career longevity and fulfillment, is to remain highly employable. Here’s a proven 5 point strategy to ensure you have security in an uncertain job economy.1. Under-promise, over-deliver 2. Nurture Your Network 3. Invest in Your Competence 4. Have a Plan B and Plan C Ready to Execute 5. Build Your ReservesUNDER PR
Pricing yourself into extinction. Don’t become a commodity by lowering your price to be different. When clients choose your firm over others because of price, your value fades and you’re no longer unique.
The one way to differentiate yourself using price? By being the most expensive! Price becomes an inherent benefit by portraying prestige and quality. This is easily true of products (think Rolex, Louis Vitton) and is equally true for professional services (think high-end, private medical practices; financial advisors who work only with “
Only 1% of the people who choose to start a blog, succeed to make money from it. It is also called monetizing your blog.The statistic is really shocking.Those that succeed as bloggers are able to earn money, enough to live comfortably and work from home.A good number of the bloggers earn a steady 5 digit income every year.There are several good places on the internet where you can find tips about how to create a blog that is earning you money.If you are looking for a step-by-step guide, then the best one on the market is absolutely this one.The truth is that blogging can be a very lucrative online home business if and only if you have the talent and the right attitude towards your business.What makes other fail while others succeed? Successful bloggers invested a lot of time, efforts and talents into their site. Many bloggers believe that writing a blog should be taken seriously.They are taking it seriousl
Everyone is vying for the same client dollars, whether your clients are consumers, other small businesses, major corporations, or federal agencies. Your target clients are overwhelmed with too much information and too many choices. The bottom line? You still need to stand out from the crowd.
Coined by Jack Trout, the father of “positioning” products and ideas in the minds of consumers, this notion is particularly relevant for professional service firms. The problem is that your clients have a choice…and they need your help to understand why to choose your firm over others offering similar services.
And just because you currently have a client, doesn’t mean they’ll stay. There’s a big difference between their satisfaction and commitment. Did you know that more than 40% of customers who claimed to be satisfied switched to a new service provider?1
Thinking strategically about how to move your clients from satisfied to committed is not discretionary. Differentiation is one of the most important strategic and tactical activities in which a professional service firm must engage.
For professional service firms, this is very tricky. It involves articulating the concrete value of something that, in your clients’ minds, is tough to quantify. Not only do you have to catch and hold their attention in the first place, you must demonstrate the bottom-line impact your services make in their lives. Differentiation will do that for you.
What Not to Do
Before we look at differentiation strategies that work, here are some to avoid:
Banking on creativity. Vague, artistic marketing messages are a waste of your target audience’s time. When it comes to building trust and confidence in your firm as the best solution to their problem, prospects want concrete, specific, direct information. Don’t make them work too hard to understand your message.
There’s a lot of fuzzy, ineffectual marketing going on out there under the guise of being creative. Don’t be seduced by the poetic or beautiful. Do keep your eye on clearly sharing information without burying it underneath creativity.
Pricing yourself into extinction. Don’t become a commodity by lowering your price to be different. When clients choose your firm over others because of price, your value fades and you’re no longer unique.
The one way to differentiate yourself using price? By being the most expensive! Price becomes an inherent benefit by portraying prestige and quality. This is easily true of products (think Rolex, Louis Vitton) and is equally true for professional services (think high-end, private medical practices; financial advisors who work only with “f
Taking inventions from concept to reality can be difficult. In fact, it's quite confusing. I've been down that path several times myself, and without help simple matters become daunting. Twenty years ago I attempted to go it alone and spent tens of thousands with a prototyping house, an engineer and more. Outside of finances, I also faced challenges when deciding who to talk to, how to patent and the path I should take when pursuing my inventions.Thinking of these subjects, I compiled a list of five things to consider about your inventions.1. Know the problems your invention will solve Every invention or great idea aims to solve a problem. Everyday people recognize problems on a regular basis. Inventors choose to solve them.Before pursuing your idea, clearly understand the problem your invention will solve. Does your solution work? Does your invention need a little help? Is it too complicated? Working with a trus
Coined by Jack Trout, the father of “positioning” products and ideas in the minds of consumers, this notion is particularly relevant for professional service firms. The problem is that your clients have a choice…and they need your help to understand why to choose your firm over others offering similar services.
And just because you currently have a client, doesn’t mean they’ll stay. There’s a big difference between their satisfaction and commitment. Did you know that more than 40% of customers who claimed to be satisfied switched to a new service provider?1
Thinking strategically about how to move your clients from satisfied to committed is not discretionary. Differentiation is one of the most important strategic and tactical activities in which a professional service firm must engage.
For professional service firms, this is very tricky. It involves articulating the concrete value of something that, in your clients’ minds, is tough to quantify. Not only do you have to catch and hold their attention in the first place, you must demonstrate the bottom-line impact your services make in their lives. Differentiation will do that for you.
What Not to Do
Before we look at differentiation strategies that work, here are some to avoid:
Banking on creativity. Vague, artistic marketing messages are a waste of your target audience’s time. When it comes to building trust and confidence in your firm as the best solution to their problem, prospects want concrete, specific, direct information. Don’t make them work too hard to understand your message.
There’s a lot of fuzzy, ineffectual marketing going on out there under the guise of being creative. Don’t be seduced by the poetic or beautiful. Do keep your eye on clearly sharing information without burying it underneath creativity.
Pricing yourself into extinction. Don’t become a commodity by lowering your price to be different. When clients choose your firm over others because of price, your value fades and you’re no longer unique.
The one way to differentiate yourself using price? By being the most expensive! Price becomes an inherent benefit by portraying prestige and quality. This is easily true of products (think Rolex, Louis Vitton) and is equally true for professional services (think high-end, private medical practices; financial advisors who work only with “
Every business owner and manager has encountered it at least once in his or her career, probably more like several times a year. An employee requests time off to volunteer in the community. The company may even have a policy allowing, if not encouraging such a practice.Meanwhile, the project end looms. The reporting deadlines approach. The quarter is ending. The customer gets more impatient. Not a great time to be down heads and hands, is it? If you are like many managers and business owners, wouldn't you rather dump the whole idea, rather than release your people for a "feel-good" day off?Think again. Studies and the experiences of a number of successful companies are showing that the AWOL employee may actually be adding value to the company in the areas of recruitment and retention, morale, and skill building. Unless you have a community affairs department helping you with this kind of strategic thinking, you may be missing t
Thinking strategically about how to move your clients from satisfied to committed is not discretionary. Differentiation is one of the most important strategic and tactical activities in which a professional service firm must engage.
For professional service firms, this is very tricky. It involves articulating the concrete value of something that, in your clients’ minds, is tough to quantify. Not only do you have to catch and hold their attention in the first place, you must demonstrate the bottom-line impact your services make in their lives. Differentiation will do that for you.
What Not to Do
Before we look at differentiation strategies that work, here are some to avoid:
Banking on creativity. Vague, artistic marketing messages are a waste of your target audience’s time. When it comes to building trust and confidence in your firm as the best solution to their problem, prospects want concrete, specific, direct information. Don’t make them work too hard to understand your message.
There’s a lot of fuzzy, ineffectual marketing going on out there under the guise of being creative. Don’t be seduced by the poetic or beautiful. Do keep your eye on clearly sharing information without burying it underneath creativity.
Pricing yourself into extinction. Don’t become a commodity by lowering your price to be different. When clients choose your firm over others because of price, your value fades and you’re no longer unique.
The one way to differentiate yourself using price? By being the most expensive! Price becomes an inherent benefit by portraying prestige and quality. This is easily true of products (think Rolex, Louis Vitton) and is equally true for professional services (think high-end, private medical practices; financial advisors who work only with “
Ever hear someone say “Don’t listen to them! They just want to take you on a rollercoaster ride!”Many people who care about you and your well being will say something to this effect when you are provided with a business opportunity online. It is a way to deter you from joining up but what does it mean?A rollercoaster provides anxiety building climbs, adrenaline pumping falls and exhilarating twists and turns. Half the time one is unsure which direction they are going and after all the ups and downs and twists and turns they find themselves back where they started.Like a rollercoaster there are times when business is slow and times when things seem to be overwhelming fast. However, the scariest part is that no one wants to end up where they started with their business. Starting up a business costs money too, so if you end up where you started you are actually at a loss.This is what upsets people. No one wants to pu
Before we look at differentiation strategies that work, here are some to avoid:
Banking on creativity. Vague, artistic marketing messages are a waste of your target audience’s time. When it comes to building trust and confidence in your firm as the best solution to their problem, prospects want concrete, specific, direct information. Don’t make them work too hard to understand your message.
There’s a lot of fuzzy, ineffectual marketing going on out there under the guise of being creative. Don’t be seduced by the poetic or beautiful. Do keep your eye on clearly sharing information without burying it underneath creativity.
Pricing yourself into extinction. Don’t become a commodity by lowering your price to be different. When clients choose your firm over others because of price, your value fades and you’re no longer unique.
The one way to differentiate yourself using price? By being the most expensive! Price becomes an inherent benefit by portraying prestige and quality. This is easily true of products (think Rolex, Louis Vitton) and is equally true for professional services (think high-end, private medical practices; financial advisors who work only with “
Employees, the most important source of any organization to grow, grow & grow. Industry is full of jobs & requirements. You name it and there is a company looking to hire such professionals. The connecting lines these days are internet. Many and many job hunters look forward to internet portals for new jobs and are successful in reaching out to the right employer.Internet has slowly become an integral part of much organizational growth these days. Today for all small-scale industries to move ahead and get into a mid size company, internet plays a very important role. Just imagine the amount of business happening these days with internet as a resource. With Google, playing one of the most important gateways to connect these business happenings, it is growing with a pace of 200% every year.Coming back to employees, it is not just hiring an employee for any company; it is also about retaining the same for a long time. Facilitating
Pricing yourself into extinction. Don’t become a commodity by lowering your price to be different. When clients choose your firm over others because of price, your value fades and you’re no longer unique.
The one way to differentiate yourself using price? By being the most expensive! Price becomes an inherent benefit by portraying prestige and quality. This is easily true of products (think Rolex, Louis Vitton) and is equally true for professional services (think high-end, private medical practices; financial advisors who work only with “family offices” of the wealthy).
Doing it all. Trying to be all things to all people (“our firm offers a wide range of practices”) is the worst way to be unique. Not only do you overwhelm prospects with choices, you make it easy for your competitors to offer the same.
The Internet makes it particularly easy for your competition to match what you offer – it’s easy to comparison shop online. So then it comes down to who’s got the better price…a losing proposition for everyone involved – including the customer. Eventually, you’ll no longer be able to afford to serve them, or will resent having to give away your services.
Choosing to be specific and narrow your offer takes courage, yet it’s how to stand out in your customers’ minds, and it lets you charge what your worth.
So how do you effectively differentiate your professional services? For approaches that really work, keep reading…
Taking a page from Jack Trout’s book, Differentiate or Die (John Wiley & Sons, 2000), here’s how to stand out from your competition:
1. Be First. A good strategy, if you’ve got a really good idea. If you’re there first, anyone copying you later will just reinforce your value. Takes a lot of stamina to pull off and sustain.
2. Own an Attribute. Things like speed (H&R Block’s fast refund) and the “experience” (a spa environment in a cosmetic dental practice) are attributes. The key is to keep it simple and focus on one or two words that describe your differentiating attribute. If someone else in your niche owns it already, it’s not yours to claim.
3. Lead. If you really are #1, proclaim it! Being number one can take many forms…you can lead on sales (#1 on your local business journal’s list of top firms), you can lead through technology (the fastest digital printer in town), and you can lead through performance (ranked #1 by satisfied customers for five straight years).
4. Use Heritage. Having a long history makes people feel secure. If your firm has been in business for 10 years, celebrate it! Likewise, “locational” heritage can make you stand out. Think perfume and wine from France. Government contracting expertise from Washington, DC. Safari travel planning from a long-time resident of Africa.
5. Pick a Specialty. A natural for professional service firms, this is all about being an expert. A simple example is my company, TurningPointe Marketing. We hel
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