Expertise as a Differentiation Strategy
MAY 16, 2016
If you want to stop competing on price alone, it may be time to develop a stronger differentiation strategy. Differentiation Strategy Defined. One way is to compete on price, highlighting the similarities you share with your chief competition. All it takes is someone willing to undercut your lowest price. This is what is known as a differentiation strategy.
Ten Questions to Sharpen Your Competitive Differentiation – Guest post by Laura Patterson
MARCH 3, 2013
Buffer Ten Questions to Sharpen Your Competitive Differentiation. One of the most important tasks for digital marketing is to differentiate the company and its products from the competition. Differentiation entails clearly distinguishing your product and/or company to make it more attractive and compelling to a particular target market. Differentiation plays an important role in gaining customer consideration and preference, two important steps in the customer buying process. What position does the competition have in each of these segments?
10 B2B Marketing Lessons from Walt Disney World and Universal Studios
APRIL 22, 2014
Don’t nickel and dime customers; consider “all-inclusive” pricing. ” This pricing model certainly doesn’t fit everywhere in the B2B world, but for products that command a premium price, and which buyers reasonably expect to include a certain “bundle” of additional items or services (e.g., Price has many uses. Well, no. million.
B2B Buyers: It’s all about the Benjamins
The ROI Guy
SEPTEMBER 19, 2011
Over 2/3rds of B2B buyers indicate that immediate purchase price dominates their buying decisions 60% or more of the time. The research revealed that price dominated in 64% of purchases, delivering great news for price leaders - those focusing on initial pricing advantages versus higher priced / often more feature-rich solutions.
Developing a Unique Selling Proposition [USP]
Sales Intelligence View
JULY 13, 2012
The USP is that unique position that you occupy in the minds of both your prospective and existing customers. The unique selling proposition is born out of the answer to two basic questions: First, why do your customers buy from your company? Secondly, if they have chosen not to buy from you, why should they do so in the future? It is brief.
The benefits of a strong brand in B2B markets
The B2B Research Blog
OCTOBER 3, 2016
In riskier buying situations where the cost of making the wrong choice is high (either for the individual’s reputation or for the company’s effectiveness) a strong brand makes you the safe choice. As the old adage goes, ‘you won’t get fired for buying IBM’. This matters because despite what textbooks tell us, B2B buyers aren’t automatons following a thorough, logical process in every buying situation – they sometimes just opt for the easy choice. Positive brand associations make buyers want to be associated with you and increase the perceived risk of switching.
Three “Lies” That Plague B2B Businesses Today (Part Two of Three)
SEPTEMBER 13, 2016
57 – 90% of the buying process is complete before a sales rep needs to get involved. Today we will take on the second of the three lies: 57 – 90% of the buying process is complete before a sales rep needs to get involved. Here are their comments: Dave Brock: “The customer is wherever they are in their buying process. But when they do that, they minimize their ability to shift the customer’s thinking, to get them to consider different points of view, to create differentiated value. Your only way to win is by price and even that is low odds. Principal.
Why Customer Experience is the Hot New Thing in Marketing
FEBRUARY 11, 2016
Everywhere, companies compete based on product, technology, price. That sort of holistic view – of ensuring customers are always well treated no matter what stage of the buying cycle they’re in – is at the core of the customer experience ideal. Your customers’ experience is part of your product – and a way to differentiate yourself in the market. No one needs to tell you that.
How even social media & social selling experts are getting LinkedIn wrong – Part 1
AUGUST 31, 2016
When you have a high-priced solution with a complex sales process that requires strong relationships, you better be sure you’re focusing on specific audiences and that you are relevant. This positions you as a resource rather than a thought leader! They want to see real, differentiated value, and how you turn their vision into results they want to achieve. Like this post?
16 Enigmatic Business Blogging and Other Marketing Stats
MARCH 15, 2016
45% have reached out to a blogger to inquire about a product when considering a purchase, and 84% buy products based on the content they find on blogs. More than three-quarters of companies that have a blog report a positive ROI for inbound marketing, and 79% of best-in-class marketers rank blogs as the most effective marketing tactic. But apparently not. Meghan M. Stratabeat ). 2.
10 Customer Experiences You Need To Deliver Today
B2B Marketing Insider
JULY 15, 2015
You can claim victory by way of this competitive differentiation war by offering the lowest prices or providing a superior, surprising and spectacular customer experience! You may win the price battle, but that is only a short-term solution. They want to be educated on how your stuff can help them – then they will buy! Are you prepared to win it? The rules change daily.
How the Internet of Things Is Changing Marketing Forever
DECEMBER 14, 2016
In fact, the customer experience is expected to overtake price and product as the key differentiator by 2020. Not only could it route the best path through a store based on historical buying patterns, but the store could also track data related to those paths. Shaking Up Pricing: Product-as-a-Service. IoT is transforming the customer experience, but it may also transform the way marketers price and offer their products. This model could transform pricing for all different types of products. Crisis avoided. What is IoT? The answer is simple.
5 Trends Redefining Sales and Marketing in 2016
JUNE 28, 2016
transactional selling , buyers’ decisions are heavily influenced by price. And when companies can’t lower their prices any further, they rely on their marketing and sales pitches to persuade clients to choose their services over similar competitors. According to our research , 80.8% of prospective buyers visit a firm’s website at some point during the buying process. And 43.6%
Even the Smallest Businesses Can Sink its Teeth into These 10 Branding Lessons from Apple
OCTOBER 20, 2015
Successful small business branding means all these parts work together to create a cohesive, positive, engaging and useful identity in the minds of your customers. Branding succeeds when it sparks a positive emotional resonance within consumers. Differentiate yourself with real differences. Their professional image should feed and build your positive brand identity. 8.
How to Rejuvenate a Troubled B2B Brand
Great B2B Marketing
MARCH 18, 2015
The theme of the post: No matter the size and scope of your company, the brand position you hold with your prospects and customers has monetary value in terms of sales, stock prices and even employee retention. The downside is that few people know about you – the upside is that you can start with a fresh and differentiated brand position. Live the brand position.
How Manufacturers Use 3D CAD Models and 2D CAD Drawings as Sales Enablers
Industrial Marketing Today
JULY 2, 2012
CAD can also be a powerful differentiator for precision machining shops and fabricators. They are in a much better position to offer value engineering and DFMA (Design for Manufacturing and Assembly) services to help become preferred manufacturing partners instead of being a supplier that is constantly competing on price. Download my 7 Content Marketing Tactics for Marketing Industrial Products white paper to learn more about using downloadable CAD files as one of the industrial content marketing tactics to move leads forward in their buying cycle.
What Content Marketing Will Look Like in 2016: 40+ Predictions
DECEMBER 14, 2015
Simply put, most brands resist telling a truly differentiated story; and even those that do aren’t consistent or patient enough to build loyal audiences over time. Media acquisitions by brands will start in the B2B arena, where large manufacturers like GE will purchase niche content sites with loyal audiences ( buy vs. build ). All signs point to video.
How to Drive Organic Growth: 5 Proven Strategies for Professional Services Firms
APRIL 18, 2016
Insights from research help you better position your firm , reduce the risk of marketing missteps, and develop a competitive advantage. With research results in hand, you’re in a position to focus on a specific niche. Their services become generic commodities stuck in a price war with myriad competitors. Develop strong, easy-to-understand differentiators. Relevancy.
Is Your Competition Making Stuff Up? Good.
B2B Marketing Unplugged
OCTOBER 26, 2015
This is a great example of marketers, lacking anything meaningful to use to differentiate from the competition by Making Stuff Up. It’s the type of seed they use to grow cotton and almost none of the cotton we buy comes from Egypt. It’s all about potential. Is full size the same as double? Is that some mysterious European mattress size? Do the kids have single beds or twins? Diamonds.
4 Ways to Win the Hearts of Consumers
Modern B2B Marketing
MAY 4, 2016
What hasn’t changed is how we make buying decisions. There are two things that I strongly believe, no matter the purchase: People buy from people they like. People buy based on emotion and back it up with logic, not the reverse. As Simon Sinek said, “People don’t buy what you do, they buy why you do it.” will buy one in every color.). 4. B e Aspirational.
From a Business Case to a Case for Change
The ROI Guy
OCTOBER 21, 2015
Our value experts concur that going forward, the Traditional Business Case is not enough to differentiate your unique value or motivate today’s more empowered, skeptical and frugal buyers to change. Instead of a numbers laden document focused on the solution, price and benefits, the Case for Change is about articulating your unique value story, in the context of the buyer’s challenges.
12 Tips for Writing Clickable Search Ad Copy
JULY 7, 2016
potential customer who might have been hesitant to try Gap because of the price could now be more likely to click, familiarize themselves with the brand, and maybe even purchase -- all because of the special offer. 3) Include an actionable CTA. What terms would your ideal customer search for if they were looking to buy your product? reating search ad copy is similarly tough.
The World May Be Ending But, If Not: 3 Tips To Be a Better Marketer in 2017
Customer Experience Matrix
DECEMBER 19, 2016
About eighteen months ago I started presenting a scenario of a woman named Jane riding in a self-driving car, unaware that her smart devices were debating whether to stop for gas and let her buy a donut. possible self-delusion (her hair might not look so great), and commercial machinations (is that really a sale price for those shoes?). But I do own the domain if you'd like to buy it.
Misinterpreting Customer Data: Good Data Can’t Save Bad Marketing
NOVEMBER 13, 2014
annually – all the while increasing the number of positive social media mentions by 14.6% These advances, though, reflect transactional analytics – are people buying from us, are they signing up for loyalty programs, etc. In Tesco’s US markets as well, such an omni-channel perspective would show that factors like pricing are extremely important to customers. annually.
73 Experts Reveal B2B Marketing Trends to Leverage in 2017
DECEMBER 14, 2016
Instead of launching a new content platform, consider buying a media platform or blogger site that your audience is already engaged in. Knowing the EXACT pain pints of your target audience and providing massive value up-front, and at no-cost, will help build immediate trust AND position you as the answer to their problems. And it's STILL a big differentiator! Personalization.
Trust Me: Why Trust is Crucial for Business Success, and How to Built It
MAY 31, 2011
It removes psychological barriers and objections to buying, and makes people want to do business with you because they are comfortable. I was talking to a client not long ago about some travel she has coming up that will take her away from the office for several weeks. Differentiate yourself, with disparaging your competition. That is amazing, and it is treasured. Before the Sale.
The Ultimate Smarketing Glossary: 62 Common Sales Terms Explained for Marketers
NOVEMBER 12, 2014
Another way of saying "the buying process." stage of the buying process leads reach when they''re just about to close into new customers. They''ve identified a problem, have shopped around for possible solutions, and are very close to buying. Buying Criteria. All the information a consumer needs to make a buying decision. "why should I buy it?";
Agency: Bottom-Line Boosters for Marketing Agencies to Adopt in the New Year
JANUARY 18, 2016
The buying cycle for your clients’ customers lasts longer than a week. Marketing designers combine visually pleasing graphics and relevant compelling data with bits of dialogue, then code the infographic to react and gather valuable data about who the viewers are and where they are in their buying process. Some agencies are using none of the marketing techniques listed above.
B2B vs. B2C: How Content Marketing Changes by Target Audience
SEPTEMBER 7, 2015
Seeing Jean Claude Van Damme perform his epic split on a set of Volvo trucks isn’t enough to persuade commercial truck buyers to choose the brand when compared to other variables such as pricing and warranties. B2C marketing is focused on price and the emotional satisfaction of obtaining the product.”. Below are a few ways in which B2B and B2C marketing differs. Intent. Messaging.
B2B Marketing: Do This, Don’t Do That
Great B2B Marketing
JULY 3, 2012
Branded authorities are able to command premium prices because they offer a unique differentiation and compelling benefit(s). And if you fail to do this, consider this sobering thought: many of the leads you neglect will either buy from you or a competitor. Stop changing your message/positioning every five minutes. Easy enough to say but how do you accomplish this.
The Importance of Business Research for Your Firm: Top 10 Questions to Drive Growth & Profitability
AUGUST 17, 2015
When you understand what true value and benefit of your services, you're in a position to enhance it or even develop new services with other true benefits. 6. SEE ALSO: Why Brand Differentiation is Essential for Professional Services Firms to Succeed. 8. How should you price your services? In my experience, most firms overestimate the roll price plays in buying decisions.
Accountants are Cool (No, Really!).Show the World with Video Marketing
DECEMBER 14, 2012
In fact, they were developed for internal purposes-- for team building, as well as to ramp up for the New Year, gain buy in and excitement from the staff. What she told me is that the feedback has been overwhelmingly positive from clients, prospective clients, employees, and recruits, as well as the general public. Overall, the entire experience has been a definite positive.
B2B Market Segmentation – Part 2: How to Approach Segmentation
Everything Technology Marketing
OCTOBER 10, 2010
But it doesn't get to the core of why companies are buying and what problem they are looking to solve (don’t get me wrong, demographics are still an important factor in the segmentation process, but they shouldn't drive the first steps of segmentation). Go to Market / Buying Preference What is your target markets' preference in procuring solutions, channel/direct preference?
Using content-related quizzes to generate leads
grow - Practical Marketing Solutions
SEPTEMBER 29, 2015
Prospective consumers will always have questions for marketers like “Which (blank) should I buy?,” small price to pay for a service meant to enlighten. When an audience of dog-owners can’t decide which product to buy for their canine companion, these boxes offer a simple solution. small price to pay for a service meant to enlighten.
Integrating mobile video branding into the auto purchase funnel
JANUARY 29, 2016
Unfortunately, the industry back then was in the habit of taking those potentially bright, positive, magical moments and turning them on their head. The What to Buy Moment (Top Funnel). Here’s where the use of Mobile really steps up as searching for pricing, discounts, incentives, and trade in values all play a part in the number crunching. The Where to Buy? Part One.
The Content Quest – 20 Questions for Content Marketing
PR Meets Marketing
JANUARY 17, 2016
According to B2B marketing research by CEB’s Marketing Leadership Council, 57% of the buying research happens before a prospect contacts a vendor. Understanding how to create and distribute content to answer these two key questions – what value does your content have to the customer and your company – will better position your company, products and services to B2B buyers. What triggers a prospect to move to the next stage in the buying cycle? What step backs will they have as they move through the buying cycle? Where do they get information?
4 Lessons From the Most Purposeful Ads of 2014-2015
APRIL 3, 2015
The smoke was sometimes literal ("Sophisticated women smoke Virginia Slims!") and the mirrors reflected who we were and/or wanted to be ("True Americans buy Ford"). Every purchase is mere clicks away; there are increasingly few strangleholds on distribution, proprietary sales territories, patented common goods, price or quality differentials. What the Sweet 16 Have in Common.
Do You Qualify?: The Leads Test You Must Pass
MARCH 23, 2016
So let’s get into the nitty gritty and talk about the fine points of what differentiates a qualified lead from an unqualified lead. Are in control of their own buying cycle and are completing self-education research. Any qualified lead should understand the pricing structure and what can be expected with your offering. A clearly defined pricing page on your website will clarify this.
The Role of Emotions in B2B Marketing: Telling a Story, Making a Sale
APRIL 24, 2015
And B2B buyers are more cold-bloodedly concerned about product details, payment schedules, and competitive differentiators. B2B buying is driven not only by logic, testing, and facts, but also by the emotional connections created by the brand-to-customer relationship – and by the very real career risk of making a wrong choice. These all engender positive emotions. Talk to them.
7 Components That Comprise a Comprehensive Brand Strategy
MARCH 8, 2012
But Apple sells a lot of them at twice the price because of the way Apple positions its brand in the market. If it doesn’t tie back to your brand's message, you will have trouble differentiating yourself from competitors. It all ties back to Volvo's underlying brand theme of safety, and customers know what they will get when they buy that product. Be Consistent.