When you build a home, you follow the specific steps outlined in the blueprint. And when you do, you build the home of your dreams. This applies to your business as well. In order to build a highly successful and profitable business, you need to develop a business blueprint. As with most home blueprints, there are 3 major considerations that must be addressed to create that dream home.
There’s the foundation upon which the home will be built… there’s the overall structure such as the walls and roof that creates and defines the interior living space… and finally, there are the basic components that complete the structure such as plumbing, wiring and so on. What you need to know… A business is no different.
There are 3 structural components that every business must have to attain success. The business must be unique (foundation)… it must offer value (structure) to prospects and clients… and it must be able to communicate (components) that it’s unique and offers value. The main reason prospects buy what you sell is that they “want” it. Prospects want to feel special, so they will buy a product or service that meets their “unique wants.” Then they will buy it from you, but only IF you offer them the most value. If you aren’t unique, and you don’t offer extraordinary value, then you’re forced to compete solely on price.
A business simply won’t thrive unless it’s unique, offers exceptional value and communicates both to prospects and clients. Why you need to know this… Highly successful businesses find ways to separate their business from their competition. They find ways that enable them to literally dominate their market. They learn the process that can make them unique; help them create extraordinary value and be able to communicate both of those in every marketing message they create. Building a highly successful business is simple. In fact, it’s nothing more than a step-by-step process. However, it does take some effort on the part of the business owner. Unfortunately, they don’t know what they don’t know, so they must find a way to gain the specific knowledge, skills and support they need to be successful.
The cost to you if you fail to act… Do you want to spend the rest of your life competing on price? Do you know specifically what your prospects “want” from your business? Do you know how to properly innovate your business? Do you have any idea how to tell if your proposed innovations will produce a positive Return On Investment (ROI)? If you don’t innovate, and are forced to forever compete on price, what will be the future costs to your business if that happens? How would you like to learn how you can develop these critical skills?
What is your Market Dominating Position? Small businesses are usually established in response to market demand for a product or service. But what happens when that demand slows or stops? Or the local competition sets up shop with a “new and improved” version of your product down the road? How do you keep your offering fresh while growing and maintaining your client base?
The answer: innovate your business and offer extraordinary value by creating a “market dominating position”. Every choice you make when buying a product or a service represents a point of differentiation between one company and their competitors. For example, why did Dominos become a billion dollar behemoth in an overcrowded market in just a few years? They offered the exact same pizza as ALL of their competitors! Well, they created a market-dominating position.
What, if anything makes your business different from your competitors as perceived by your targeted prospects and customers? For the vast majority of businesses that answer is the price. These top-selling companies have carved out a specific and targeted market dominating position. Nike’s position revolves around being the best athlete, being hip and in style, along with the perception of quality.
When you create your own market-dominating position, you will consistently get businesses and individuals to choose your business over your competitors. A “market dominating position” is any value-added customer perceived benefit, or a combination of benefits, that differentiates you from your competitors and does so in a strong enough manner that it makes your business the logical choice in the minds of your prospects and customers. The key is to create added value in everything you do. Prospects and customers DON’T buy based on price, they buy based on the value they receive for the price they pay. Creating added value is a strategy that can take the form of a product or service that’s added to your original offering for free or as part of a discounted package.
Revisit the value you offer, or your customers will be drawn to your competitor who consistently innovates their business so they offer exceptional value that you don’t. Everyone can add value to their business, the key to adding value is determining what your customers and target market perceive as valuable and understanding of their needs, wants troubles and inconveniences. By adding value you will also add to your profits.
Added value works for both product and service-based businesses. If you’re service-based like hairstyling, try treating your customers by offering them a latte while they wait, or complimentary shampoo samples or a free conditioning treatment with every sixth visit. If you sell a product, consider offering convenience services like free shipping or delivery to make the customer’s experience a seamless one
Do you use the Conversion Equation? Is it evident that this might be a problem for you now and a tremendous competitive advantage if you could figure out how to fix this for your own business? Let me explain how you can follow a very simple process we call the conversion equation and when you do, you will eliminate jargon forever. I’m going to show you how to become a communications powerhouse, make your outside perception become an excellent reflection of your inside reality and finally begin to get the results from your marketing that you should be getting.
The conversion equation has four main components. Let me start with a brief introduction, and then I’ll go into more detail. The first component of the conversion equation is called Interrupt.
This is simply the process of getting qualified prospects to pay attention to your marketing. This is often accomplished by affecting the prospect emotionally. Sounds simple enough doesn’t it? Unfortunately, it’s a lot more difficult to pull this off in real life unless you understand what you’re about to learn here.
The second component is engage. Once the prospect is interrupted, it’s critical to give the reader the promise that information is forthcoming that will help the prospect make the best decision possible or, in other words, facilitate their decision-making process. This is also best accomplished on an emotional level.
The third component is educate. You now need to give them information that allows them to logically understand how and why you solved that emotional problem. This is accomplished by giving detailed, quantifiable, specific, inside-reality-revealing information. This turns the corner from an emotional sell — remember… you interrupted and engaged them based on emotional hot buttons — to a logical sell. This is easy to do if you just follow this conversion equation. And the fourth and final component of the conversion equation is the offer. Now the prospect has been interrupted based on problems that are important to them, emotionally engaged by the promise of a solution to that emotional problem and they’ve examined the educational information that makes your solution to that emotional problem real and believable.
So the last step is for you to give that prospect a low or better yet NO risk way for them to take the next step in the sales process.
This can be accomplished by offering a free marketing tool — such as a report, brochure, seminar, audio, video, or something similar — that educates them even more so the prospect feels in complete control of the decision-making process. This conversion equation follows the formula for what marketing is supposed to do in the first place. In fact, at this point, we can simply say that marketing’s job is to interrupt, engage, educate, and offer.
If you would like access to our online version of the Conversion Equation Evaluator visit: HERE
Platitudes! Since businesses only have thirty seconds to try to convey what makes them special, they lump everything into jargon such as: “largest selection,” “most professional,” “lowest prices,” “highest quality,” “best service,” “fastest,” “most convenient,” “largest in the state,” “more honest,” “we’re the experts,” “we specialise,” “works harder,” “gets the job done right the first time,” and “been in business for 3,000 years.” I’m not saying that you shouldn’t be those kinds of things.
Those actually make up the foundation you want to use to build your inside reality on. But consider this. If my marketing says that I offer high quality and great service, isn’t that drearily commonplace and predictable? Doesn’t it lack the power to evoke interest through overuse or repetition?
Isn’t it nevertheless stated as though it were original and significant? Does my inside reality, what really makes me good at what I do — does that really shine through? Can you tell specifically what makes me valuable to the marketplace when I say “highest quality” or “best service”? See, you simply can’t describe, demonstrate, exhibit, reveal, or display your inside reality using jargon. It’s impossible! And unfortunately, the end result is an outside perception that you’re no different than anyone else. There’s absolutely no distinction, no separation, and no differentiation. None.
You just flat-out can’t make your inside reality and outside perception match up when you use jargon like this. In fact, let me give you several ways you can easily and quickly evaluate your own marketing to see if you’re getting caught up in the jargon trap. Jargon evaluation #1 is, “Well, I would hope so.” When you make a claim, don’t think about it in terms of the words coming out of your mouth. Think about it in terms of the words entering your prospect’s ears. This will enable you to realise just how absurd most jargon sounds. Look at the messaging in your marketing, and then ask yourself if the prospect’s immediate response might be, “Well, I would hope so.” Let me give you an example.
How about this one from a consulting company: “Our training leads to change. We increase the productivity, performance, and profit of your company.” Well, I would hope so! Does anyone hire a consultant for any other reason than to do those things? Most ads today are nothing more than a jargon-fest. Does this jargon tell you anything about these companies inside reality? What else would you expect them to say?
Everyone’s always going to say wonderful things about their company if they can get away with it. The problem is that if your company has an exceptional inside reality… and you’re using the same jargon as everyone else… then the outside perception is that you’re all the same. And that’s when prospects default to the company offering the lowest price. Price now becomes the only determining factor. When you use this simple evaluation, just ask yourself openly and honestly WHY anyone would choose you over your competition? Then evaluate your answer against the “Well, I would hope so” evaluation. And finally, check out all of your advertising and marketing materials, including your website. Do they pass the “well, I would hope so” evaluation, or are they ALL chock full of jargon? If they fail, then you need to make changes.
Our #2 Jargon evaluation technique. is called “Who else can say that?” This is similar to the first technique… and it’s also a product of the era of the brand-builders. Pay very close attention to this one. Stop thinking in terms of “Who else can do what you do?” Instead, think in terms of “Who else can say what you say?” Because of the answer, unfortunately, is usually “anybody and everybody can say what you say.” So remember… it’s not who can do what you do. It’s “who can say what you say?” And if you’re marketing is full of jargon, then sadly that answer is all of your competitors can.
The #3 and final jargon detection evaluation. It’s called the scratch-out write-in test. Take a look at your brochure advertisement or website. Now, scratch out your name and write in your competitor’s name. That’s it. If the marketing is still valid, if the website still conveys the same basic message if there wouldn’t need to be any additional changes… then guess what? You just failed this test. This evaluation can be very revealing. Most businesses discover that they run fairly high on the jargon meter. You may find that your inside reality, excellent as it may be, is nowhere to be found in your marketing messaging. It’s all but lost in a sea of jargon and completely invisible to your prospects. Does this start to make sense to you?
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