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Two Rules for Increasing Sales: Think Unique and Think Important
If your product or service offering is NOT unique from the competition and important to your consumers both personally and specifically they will not buy. Period.
You can create value for your consumers and increase sales by following our two simple rules:
Rule #1: Think Unique
Bottom Line: If your offering is perceived the same as everyone else's offering consumers won't buy.
To prevent this your brand must be identifiably unique in the marketplace as to give consumers a point of differentiation and thus a reason to choose your offering over others in the market. For example, if we think of a car, transportation is a benefit of all cars, but nearly all cars can provide this benefit. To make a choice consumers look at other attributes and points of differentiation in order to make a selection. For Jaguar recently, the point of differentiation has been "affordable luxury." Perhaps addressing a similar market, Lexus has created this same concept as Jaguar but differentiated their "affordable luxury" offering by introducing a new product feature, the "hard-top convertible." Hmmm, something different. And something consumers just might buy. Yet while differentiation is a key in our value equation, differentiation alone is not enough. We must also apply rule #2.
Rule #2: Think Important
Second, the brand must be important and relevant to your consumers.
Bottom line: If your points of differentiation are not relevant to your consumers personally they will not buy. To decide on the unique benefits for your offerings you must discover 1) Who are your consumers? 2) What do they value personally and specifically? e.g. Are they yuppie wannabes in suburbia; are they older women who quite frankly don't want a "grandma" car? Next, we need to know our consumers intimately; we must know what is important to them. In the case of Jaguar, affordable luxury looks to be important to their consumers; the acid test, sales. People are buying- a lot more Jaguars these days. According to the company "a lot" equals a whopping 20% increase in worldwide sales from 2000 to 2001. The company directly linked this increase to their introduction of their first "affordable luxury" car the S-Type. But, Jaguar knew this car would increase sales before it even hit the assembly line. How? Simple, they applied our rules.
Copyright, CONSUMER building 2001
Sharing increases knowledge. Reprinting permitted if author and company fully sourced as follows in 11pt font or higher:
Amanda Besemer, CEO and Founder, CONSUMER building.
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