I just read a great book on Competitive Advantage by Jaynie Smith. It reminds me that most companies are saying the same stuff over and over. Want to know why customer’s aren’t excited about seeing you anymore, let alone buying from you? This may be the reason.
Like how can everyone be the most innovative, or have the best technology, or be the industry’s pioneer? Who even cares?
Here’s a Head Knocker
Jaynie Smith does a workshop where she asks all the CEO’s in the room to write down the 10 things that make them different. Here is the list that generally shakes out:
- Good customer service
- Quality
- Reputation
- Good results
- Our employees
- Knowledgeable staff
- Consistent management
- Responsiveness
- Innovativeness
- Trust
Ms. Smith has all the CEO’s read their list out loud. By the 3rd or 4th CEO it’s pretty clear: they all have the same basic list. Pathetic isn’t it?
To dramatize her point, Ms. Smith flips over a chart and had already written each of those 10 things down.
Newsflash: if everyone is saying it it isn’t unique.
It isn’t a competitive advantage either.
Solution, Part 1 to actually articulating a Competitive Advantage
Take a piece of paper and write down all the things you’re saying to your customers about why they should buy from you. Write down the things that you think differentiate you in the marketplace. Review your collateral material, your brochures, your website. Discover why you and your company think people are buying from you.
If you can do this with your sales team. Do this with your Marketing folks.
Solution, Part 2 for having a Competitive Advantage: Competitors
Go to the websites of your competitors and check what they are saying. Check out their collateral materials and websites. Cross out everything that you have in common.
Solution, Part 3 for having a Competitive Advantage: Customers
Now take your lists and talk them over with your customers. Improve and hone your list based on the feedback you get from your customers
Now Shout Your Differentiation Everywhere
These new messages need to be your salespeople’s playbook. Weave them into your webpages, your collateral materials , everywhere. These are the messages that will get doors opened and sales done. It will get you past gatekeepers and into the offices of buyers.
If you’d like to have this fleshed out, read Jaynie Smiths book “Creating Competitive Advantage”.