How do you create a connection? It starts by clearly defining the WHY of our business or product.
No matter the business/product category in which you compete, there are others…usually many others…doing the same thing and competing for the same customers. In order to increase market share most companies fall back on CTP (Cut The Price) methods in order to induce purchase. Depending on the size of the incentive that can indeed create additional short term sales. But it is easily copied by competitors and can squeeze profit margins, particularly when it is used too frequently.
Social media and the Internet have empowered buyers in more ways than ever before. Using a computer or mobile device they can easily evaluate every aspect of a business or product without ever leaving their home or office. Millennials and younger generations, in particular, are experts at doing this. They use online tools to find information and even reviews and comments about their searched item from other buyers or users. They are looking for more than just need resolution…they’re looking for a connection that appeals to their personal beliefs.
Your Big Why is more than a mission statement. It is the basic guiding principle…the “north star”…that guides the purpose and actions of your enterprise. Finding your WHY begins with defining:
Go beyond what you sell. Define what your customers can count on if they do business with you from a product and personal/social perspective.
This is where you define what you do better than anyone else including your process and/or skills that yield a different and better result for your customers.
At R&A Marketing we have a clearly defined WHY that we share with our clients and prospects. It helps our prospects decide if we’re the kind of business they want to do business with and helps us avoid mis-matched business relationships. Learn more about why R&A Marketing here.