In these tough times, what’s the one thing you want to know?
I asked this question of a friend the other day, and, without hesitation, he answered, “How to motivate people to buy for a reason other than price.”
Today’s newsletter discusses my answer to the question. I’d love to hear your answers and insights in the comments below.
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In addition to writing, I spend most of my work time helping companies unleash their potential by creating better connections with their customers. This happens through my speaking events and through Yastrow & Company consulting engagements, where my team and I help companies figure out who they intend to be in the future, and then engage the entire company in creating that future through strong "We" customer relationships.
Before starting Yastrow & Company in the mid-90s I was vice-president of resort marketing for Hyatt Hotels. My experiences in the hotel business showed me clearly that most marketing doesn’t happen in the marketing department. Customers are paying attention to all interactions with a company, not just the promises made in traditional "marketing communications."
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Great post Steve. It is really amazing how often companies try to market themselves based on their “similarities” to others rather than their differences – Toyota’s new ads take advantage of that concept very well. In addition, too often the company forgets that the buyer (consumer) defines the product and the reason for purchase.
I have found that most companies aren’t truly honest about what makes them different. They find distinctions between themselves and their “competitors” but no real differences. This is especially true as you move up the executive ladder – they usually have less knowledge of what really makes their product (or service) different.
One thing you have to give social media credit for is we now have a really easy way to find out what the customer really values – and leverage that – versus guessing or using focus groups that provide limited real new knowledge.
Again, nice write up – thanks!
Thanks Paul. One way to describe what you say: Companies focus on what makes them different, not what differentiates them.