[The We are the Creative Industries series: The Creative Industries - video game companies, design, marketing and architecture firms, and talented people who write books, design houses, shoot movies, make art and record music, just to name a few examples - are an important part of Massachusetts' economy, with $1 billion statewide impact and over 100,000 workers. Click here to learn more.]
When was the last time you answered this seemingly simple question - What do you provide your customers that your competitors do not?
The value of answering this question is that it gives you a place of strength to build your Marketing strategy on. Including the Sweet Spot in your pitch captures the clients that will be your most satisfied, repeat customers.
Where do we start? The most successful companies assess these 3 circles in a Venn diagram to concentrate on the Sweet Spot. The goal is to accurately assess your own capabilities and really understand your client's needs. The sweetest spot you offer is what your competitors cannot.
Let’s take a quick look at the 3 circles:
1) You – your product and company reputation
What do you do best? Ask your customers what they think at every opportunity. Be determined to know your true value and your “Unique Selling Proposition.” Self-assessment can be a bitter pill but it will cure what ails you. Insist on the truth from your trusted network of friends, employees, and partners. Experiment with quick surveys and anonymous online polls, such as SurveyMonkey, EasyPolls, and Poll Everywhere.
2) Client – Assess your customer’s needs and expectations
Focus on understanding your prospects that are most likely to be loyal. Ask them what they need and how they expect to interact with you. For example, use your smartphone the way they do. Discover how you can provide real value and utility. Look for innovative ways that you can create to help your customers.
In this age of constant communication it can be overwhelming trying to keep up with all the Digital channels - Web, Social, Mobile, Video, etc. But the more you listen to what your customers want, the easier it will be to focus on the most relevant methods to engage them.
3) Them – Your real competitors
After you clarify yourself and which customers you should focus on, re-evaluate your competition and take a good look at them. These are your prospect's other choices in your area and beyond - remember, these days there are new avenues to reaching clients. Know how many channels your competition is using.
Check out your competitor’s websites. Check them from a smartphone. Sign up for their newsletters. Use Google Alerts to get free emails of their activities. Also, keep an open mind that your “competitors” can be more than unrelated distractions. Since you both have similar Sweet Spots, they can also be your next best partner… so consider an alliance. But that is a good topic of another article!
So, what is your Sweet Spot? Let’s share the many ways it can help your Marketing and Sales.
David Cutler is President of Creative Business Development, a Sales and Marketing strategy firm specializing in multimedia content and experiences that increase your visibility to grow sales. Share in his digital buffet at EatMedia.
[We are thankful for Global Business Hub’s support of the Creative Industries. Please note: This article does not necessarily reflect the viewpoints of the Executive Office of Housing and Economic Development or its Creative Economy Industry Director for the Commonwealth, nor is it an endorsement of any views, products, or opinions contained therein. The author is solely responsible for the content.]
The author is solely responsible for the content.
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