How many new businesses do you think start each year? 100? 1000? 10,000?
I bet you really underestimated it – more than 100,000 entrepreneurs are starting their businesses EVERY WEEK.
And that’s OK, because not all of them are in your industry, and even fewer are in your niche within your industry.
But still… that’s over 6 MILLION a year.
So the question you need to be asking yourself is…
“What is it going to take to set my business apart from the thousands of ‘new boys” and actually build a loyal customer base?”
10 to 15 years ago, you would have just needed a really good, high-quality product, and sell it for a reasonable price — basically just create a winning offer.
But there’s one problem.
Marketing has changed.
No longer can you JUST rely on the quality of your product to make the sale. Because you can guarantee EVERY one of those new start-ups has a great quality product.
So what is it then?
Well, it’s not the WHAT. It’s the WHY.
I have used a diagram from Simon Sinek below, and I love it. I came across it in a book for inspiring my teenage boys! But what is good for teenage inspiration is equally good for business.
There has to be a driving force bigger than your product, or your customers are not going to buy from you.
For example, if you are a company selling bottled water, and I asked you what did you do today – you would say “I sold bottles of water”
If I asked you how you did it you would say “I talked to major retailers, I placed some ads, I started a big social media campaign”
If I asked you why you did it you would say “because I need to make sales and profits, and grow my business”
To set yourself apart from your competition you need to start with your why?
To be honest, if you get your WHY sorted, then the how and the what will look after themselves.
So, here goes…
Why are you selling bottled water? Because every bottle of water I sell contributes to giving people access to clean water by funding nearly 30,000 water projects in 26 countries across the world.
How do you do that? I do that my making every piece of my marketing material emphasise how every purchase contributes to a clean water programme.
What did you do today? I made a positive impact on hundreds and thousands of people.
Think about it, if one company sells water, and another company sells water that helps provide clean water to impoverished communities, or uses 100% recycled materials in their water packaging, for the same price, which company do you think is going to have the more loyal customer base?
Now, I’m not saying you need an environmental promise to make a sale, but what you DO NEED is to have a plan—a marketing strategy that will sell your “why,” not just your “what.”
If you’re serious about setting yourself apart in your industry, if you are serious about your company’s success in the modern marketing world, you need to think about your WHY and not your how or your what.
What is your WHY?