Jim Connolly Marketing

Marketing tips and ideas to help you grow your business

The marketing power of being first

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Photo: Shutterstock.

I’d like you to consider the following, seemingly unrelated facts. They’ll provide you with a really useful insight for your business.

  • Although it’s 2022, we still remember Sir Roger Bannister as the first person to run a mile in under 4 minutes.
  • Apple became the world’s most valuable company, largely from the profits of its iPhone; the world’s first smart phone.

There are a couple of really valuable business lessons here.

When you are the first to do something, it’s talked about and it’s remembered for a very long time. We remember Bannister, even though Australia’s John Landy broke Bannister’s record just weeks later. Landy was faster, yet remained relatively unknown because he wasn’t the first person to go sub 4 minutes. The first person was covered worldwide in the media of the day. Landy was largely ignored.

Secondly, it doesn’t have to be perfect. The first iPhone was really buggy. It even lacked a basic copy and paste facility for over a year! However, it was extremely useful, compared to the so-called feature phones that preceded it.

You and your business

Here’s a highly valuable question to ask yourself: What useful adjustment or change to your product or service, could you be the first in your industry to provide (locally, nationally or globally), in response to the current economic challenges?

Here’s why that question is potentially of so much value to you.

You don’t need anyone to tell you that we live in very uncertain times right now, or that lots of business owners are struggling. However, other businesses large and small are innovating and inspiring their marketplace, just like they did at the start of the coronavirus pandemic in 2020.

Again, just as in 2020, the businesses that will thrive are the ones willing to adapt to the new, commercial realities.

It’s easier than you might think

Fortunately, you don’t need to reinvent the wheel. For example, an idea that’s common in another industry may be unheard of in yours. It just needs to be new to your locality, industry, profession or marketplace.

And it absolutely doesn’t need to be perfect. It just needs to be useful, based on the 2022 requirements of the market you serve.

Stay in your comfort zone

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stay in your comfort zone, comfortzones

You really should stay in your comfort zone.

Yes. Really!

Comfort zones are perfectly fine. Just ask anyone at the top of their field and / or getting what they want from life. They will 100% agree that they’re in their comfort zone!

There’s just one pretty-small caveat. You need to be comfortable, when doing the things that are consistent with what you want from life. If you are, you’d be a fool to leave your comfort zone.

If you’re not getting what you want, and not comfortable enough to do what’s required, it isn’t a zone issue. Blaming the zone is nothing more than passing the buck.

It’s a YOU issue.

Thankfully, that places it fully under your control.

Better clients, higher fees, fewer competitors

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highly profitable service, new, new profitable

Are you struggling to get noticed by great prospective customers? Are you attracting too many price-sensitive enquiries? If so, you’re not alone. This easy to fix issue is one of the most common in marketing.

Easy to fix?

Yes. We know exactly why it happens and how to fix it.

Here’s what you need to know, along with 10 examples to get you started.

Here’s why it happens

When competing products or services seem similar, price becomes the obvious way to determine value. As such, there’s little, if any, motivation for someone to pay more. In this common scenario, the lowest price looks like the best deal.

Sure, they “may” go for the 2nd or 3rd lowest price, hoping to insulate themselves from scammers or super-low quality goods or services. The key thing is that at this point, they’re price shopping. And you’re now competing on price.

Here’s how to fix it

A proven way to totally overcome this problem, is through developing something I call meaningful value.

Meaningful value is when you take what the marketplace expects from someone in your industry, and then improve upon it in a radical, meaningful way.

By default, any product or service with meaningful value has to be radically different from what’s expected. That’s what gives it meaning and elevates it from being average. This automatically places you in a unique position. A position, where you’re no longer competing on price, because your offering has no comparative competition!

What might this look like?

  1. A service that comes with a 125% money-back guarantee.
  2. A product that’s provably safer than anything in its category.
  3. A product that’s 50% lighter than the industry leader.
  4. A service that’s designed from the ground up, around the unique needs of each client.
  5. A product that’s the only one in its class, to be made from 100% renewable sources.
  6. A product that’s part of a numbered, limited edition.
  7. A service that’s 3 times faster than the industry leader.
  8. A product that’s far longer lasting than anything in its niche.
  9. A service that’s massively more extensive than anything else available to your marketplace.
  10. A product that’s clearly the most energy efficient in its class.

Those ideas are just food for thought. They’re simply examples to demonstrate the ‘base line’ required, for your products or services to stand out as being of meaningfully more value, than your marketplace expects.

Be sure to invest the time and effort required, to create something special. Marginal improvements have marginal impact. They won’t elevate your offering to the point where you have no comparative competition.

So let your creativity run wild. And aim for maximum impact.

How to be the top service provider in your niche. The FTA strategy

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best service provider, top service provider, FTA

If you’re interested in learning how to rise to the top and become the best service provider in your niche, read on. I think you’ll find this extremely useful.

What follows is based on studious notes I have taken, in conversations with top people in multiple industries.

It’s also been the foundation of my own success, spanning more than 25 years.

Let’s dive right in.

What stops people becoming the best in their niche?

The short answer is this: They don’t know what they don’t know. So they carry on, accidentally restricting their potential.

I’ve found that pretty-much every service provider will tell you they are committed to being as valuable to their clients as possible. These service providers work hard and strive to keep their clients happy.

The challenge is that their framework for what constitutes being as valuable to their clients as possible, is missing an essential component. And their success is severely limited as a direct result.

Allow me to explain exactly what’s missing. Plus, how you can get it right and absolutely thrive in any market, in any economy; year after, year after, year.

What’s missing?

The top people in any profession only become the best, because they work in a different way to their counterparts. It makes perfect, logical sense.

You can’t be the same… and also be the best. You have to choose!

In my experience of working with, and observing, many of the world’s most successful service providers (both companies and individuals), there’s one piece of the framework they operate from that gives them a massively powerful advantage.

Specifically, I’m referring to a single mindset difference, regarding what it takes to become the best service provider.

A difference that their counterparts aren’t even looking for, because they wrongly think they already have it covered!

You decide to become the best service provider

It starts with that big and bold decision. The decision to become the number one person for your market to turn to, when they need guidance, support, assistance or trusted feedback relating to your specialist area. It’s a very powerful, primary commercial goal to aspire to.

Not a certain income level.

Not a certain lifestyle.

Because, when you achieve the primary goal of becoming the best service provider, the number one choice for the market you serve, all the other rewards follow. And they follow abundantly.

Next, you need to weave this primary goal into everything you and your business does. Whilst service providers always promise to put the needs of their client first, this is almost always done within narrow guidelines. Those who become the best service provider in their marketplace go way beyond that.

Here are a few examples.

The best service providers are TRULY there for their clients

Not simply when there’s a transaction for them to benefit from. Not when the calendar reminds them it’s time for a predictable catch-up email, or an (often awkward) catch-up call.

That kind of ‘being there’ is utterly superficial.

The best service providers let clients know that they’re accessible when the client needs them. They let them know that they’re eager to help and can be relied upon.

Moreover, they make their availability very clear.

They actively encourage (and warmly welcome) their clients to get in touch.

Looking after their clients is never too much trouble and their clients know this. The best service providers are always, keenly interested in the client and what matters to the client. So, it’s only natural they want to be there for the client in a meaningful way.

The best service providers say ‘no’!

If they think that their services are not ideal for the needs or wants of a prospective client, or the prospect is unsuitable for any other reason, they’ll refuse to take them on. The best service providers know they can only remain the best, if the quality of their service is consistently outstanding. You can’t possibly achieve that level of service excellence, when you’re working with clients who are a bad fit.

The best service providers also say no, if they believe something their client has asked for is not what the client needs, even if the client is happy to pay for it.

Part of earning the trust of a client and developing a reputation for excellence, is to retain a ‘them’ focus.

It’s never about the provider.

It’s always about the client and what’s best for the client.

The top service providers will explain why the client doesn’t need (whatever) and suggest a better way forward.

The best service providers fill the empty space

The vast majority of service providers connect with their clients at certain times. Maybe when they’re on a project with them, or when the client is due to renew.

However, the intervals in-between are occupied with empty space. Silence.

The best service providers maintain contact in the spaces between those interactions. They’re a consistent, reliable contributor to their client’s best interests.

For example.

  • They share useful information with their clients.
  • They connect their clients with contacts.
  • They let their clients know about interesting opportunities.
  • They invite clients to relevant events.
  • They proactively look for ways to be of massive value in every way possible.

In doing so, they become part of the glue that holds their client’s business together.

FTA: Foremost Trusted Advisor

When sharing this approach with clients, I refer to it as the FTA (Foremost Trusted Advisor) Strategy. I then help those who aspire to be the FTA in their niche; locally, nationally, or globally, to put their strategy together. The ideas mentioned here are added to, refined, tailored to their specific service and goals. Then, I weave it into an overall business development strategy.

In many cases, their existing marketing strategy can be replaced entirely. Their new FTA approach is so strong, that it becomes their biggest marketing asset.

Unparalleled levels of client retention and client referrals are compounded with a level of service, which their competitors can’t even hope to match.

Simply telling prospective clients how their services work, becomes a highly compelling reason to hire them. No sales pitches are required. The FTA approach is what EVERY, high quality prospective client wants.

I’ve used the FTA strategy since starting my business in 1995. In that time, I’ve never sold my services to anyone, though thousands have hired me. I’ve always had great clients and always thrived, regardless of the economy.

I hope this brief look at the subject has given you a few ideas and maybe some inspiration. I’m telling you, it’s the perfect way to build a very profitable, extremely enjoyable business, which rewards you in every way possible.

How to avoid fee sensitive clients and customers. Yes, it works in your industry too

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Marketing pester, don't bother

Photo: Shutterstock.

You don’t need to sell your services or products based on price. You don’t need to waste your time on fee-sensitive clients or customers, either.

In today’s post, I explain why and provide an example of exactly what I mean.

Sort by price

One of the most common features on shopping sites, is the “sort by price” filter. It lets us see products in the category we’ve searched for, listed in price order.

The reason sort by price exists, is that the marketplace demands it. When presented with 5 or 50 options for a commodity product, the lowest price wins. This is known as the race to the bottom. Bottled water is bottled water. It makes no sense to pay more for it than you need to.

Right?

Wrong!

But what about Bob?

Bob is passionate about helping people worldwide have access to clean drinking water. He then finds a water brand, which donates money from every bottle sold, to build wells in areas where there’s no clean water.

So, Bob’s happy (very happy) to pay more for his bottled water from this well-building brand. Plus, because people like Bob know lots of other people like Bob, he tells his friends. They do the same.

Water gets sold.

Wells get built.

And people get to make a meaningful difference to the lives of those who need it.

What’s the lesson here?

If you want potential clients or customers to stop caring about your prices or fees, give them something more important to care about. This means differentiating your products or services from the competition. The moment you do, you’re no longer offering a commodity. And customers are no longer buying based on price.

The good news? If you’re thinking this approach couldn’t work for you or your industry, remind yourself that it works for a commodity as common and utterly indistinguishable as water.