Worcester Business Journal

20 Worcester Business Journal | November 21, 2016 | wbjournal.com Email sales@masslivemedia.com or Call 508-221-3108. www.masslivemedia.com Is your Digital Marketing Plan working for you? Get your FREE needs assessment Let us help you find the missing piece. Let's bust some sales myths W e're going to plug holes in a few concepts that are allur- ing, but are usually not true and can be very expensive. Myth #1 – We differentiate on service. Everybody differentiates on service, or at least they say they do. And if everyone claims it, then in the mind of the customer, no one owns it. Service is just too generic a term for something that is individual to each customer. One customer considers good ser- vice to be extended hours, while another cares less about the hours you are open. They do everything online, and good service to them is a simple to navigate and easy to use website that offers complete functionality. If you want to differentiate on ser- vice, change the word. Instead of ser- vice, you differentiate on people, or listening, or empathy. Service comes from how a customer perceives he/she is treated, and that is totally dependent on your people, not on a policy. Invest in your people. Differentiation on service then becomes possible because your people focus on each customer instead of a policy that may or may not be applica- ble. Myth #2 – Everyone is potential customer. Everyone breathes. Everyone eats. Everyone sleeps. Everyone does not potentially buy any product or service, anywhere, any- time. The myth of marketing to the mass- es is long gone. Unfocused advertising or mass mailings will cost much and produce little. Think about how much junk mail you throw out each day. You throw it out because it is not applicable or important to you. Instead, focus on your actual cus- tomers and understand why they do business with you. • Who are they? • What is important to them? • Are these the types of custom- ers I want going forward? Don't be lured by the myth of a broad market potential. Say no to large, yet unfocused opportunity. Instead, focus on clearly defined markets where actual customers and potential customers exist. This is where you will find sales opportunities and greater returns on your marketing investments. Myth #3 – Variations on a theme work. You have a product that is highly successful with a targeted group of customers. You are buoyed by your success and want to capitalize on it. Why not take that brand identity and apply it to another product, or another market? Stop now! Line extension and market exten- sion thinking usually ends up just diluting the original perception of the brand and confusing the customer. Avoid these kinds of variations on a theme. They inevitably cost money and reduce the power of the brand. Exceptions exist. • One is where market research validates that the altered or extended product is different enough to satisfy additional needs. • The second is where another market has similar enough needs to see value in the prod- uct. With these exceptions you are extending a well-earned position into viable new areas of opportunity. Myth #4 – If we build it, they will come. This worked for Kevin Costner in Field of Dreams. It does not work for companies. Truly differentiated and winning positions in the marketplace start from the customer's point of view. They do not start from the product point of view. Make sure that any new product or service you want to offer meets a pre- existing need in the marketplace. Then put the engineers and design people to work and build the best product or service possible to meet that need. You don't have to hope customers come to what you've made. They are already waiting for your solution. The Bottom Line: Myths are often alluring because they usually promise a quick or simple solution. But if something seems too good to be true, it usually is too good to be true. • Differentiate on specifics, not generic terms. • Be disciplined and find the right customers. • Respect the position and uniqueness the customer assigns to you. • Offer things customers deem important, not something you consider important. Ken Cook is the co-founder of How to Who, an organization focused on helping people effectively build relation- ships and building business through those relationships. Learn more at www.howtowho.com. The Rainmaker BY KEN COOK W For advertising information contact: Mark Murray, Associate Publisher 508.755.8005 x227 • mmurray@wbjournal.com The Worcester Business Journal Central Massachusetts' Source for Business News Worcester Business Journal WBJ

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