If you’ve ever been shopping for a car then you’ll be very well aware that there can be a bewildering array of choices that you’ll need to make as to what kind of car you should buy, what brand and model, whether you should throw in some extras and who you should buy it from in the first place.
Obviously for some of us, those choices are more interesting than for others. Personally, I’m a fan of sports cars. Since abandoning our Porsche a couple of years back, I’ve been hankering for another one. The Panamera would suit me very nicely I think. It even has room for the kids! Well, small ones at least. 🙂
The distinctions between brands, models, suppliers and extras are important differentials in a crowded marketplace. In the world of cars, there’s a model and supplier of car related services for every type of person at more or less every price point.
There’s an important lesson here for us entrepreneurs.
Porsche have successfully positioned their product in such a way as to make it extremely desirable to people like me. They’ve taken what is basically a souped-up VW and, with some Italian-styled aerodynamics, luxurious leather seats, Xenon lighting, advanced engineering and engine management systems… …
Sorry – I digress.
They’ve taken what is basically a VW and marketed it in such a way as to separate it from other cars at the same kind of pricepoint. They’ve done so by applying what I call the 4 superchargers below:
Nobody but Porsche sells Panameras. In terms of styling, there’s nothing else quite like them. There’s probably some other things I could mention but I won’t bore you with details.
At a very basic level, we’re talking about a car here. Porsche have some branding and some intellectual properties that separate them from their competitors, along with some very nice Italian styling. But other than that, the Panamera still has 4 tyres and a steering wheel. And all the other things you’d expect to see on more or less every other car in the world.
How does this apply to your business..? What can you add to your service or product that distinguishes it from the crowd? It doesn’t have to be a huge difference. But it does need to be something that is attractive to your people, your tribe.
Think about how you can make a better product. Or how you can make it faster. Or how you can brand or style it in a way that aligns with the worldview of your 1000 true fans.
Porsche have been developing their relationship with me more or less since the day I was born. As a child, I had Porsche Matchbox cars. I would have seen their cars in films and subsequently raced them myself on my Scalextric racetrack. They’ve always been there for me.
How is it for you and your customers? Are you there for them? Do they see you everywhere they go? Do they recognise your product or service above and beyond your competitors?
If they don’t – perhaps you should start to think about some ways you can make yourself better known, or more influential.
And don’t forget to look after your existing customers. Once you have that relationship with them, make sure you nurture and care for it.
Porsche still send me a greetings card every Christmas!
If you’ve ever been to a Porsche dealership, you’ll know that if you need something from them – they will pull out all of the stops and spare no expense to make your experience stand out.
Customer service is where many businesses fall down. Any time I’ve had a bad experience talking to someone on the phone or in a store somewhere. Any time a retailer chooses to answer the phone rather than speak to me in person WHEN I’M STANDING RIGHT THERE IN FRONT OF THEM sticks out.
You don’t want to create that kind of friction for your customers. Be like Porsche. Be a well-oiled machine. Make sure your customers or clients remember you for the right reasons, not the wrong ones.
Porsche don’t do quite so well in terms of their price point. But they’re probably not losing much sleep over the folk who can’t afford or won’t pay their prices. If you’re in their demographic, you’ll understand what it is you’re paying for and will probably be [relatively] happy to pay the cost.
If you’re not, well – there are other brands out there. The point is that Porsche know who their people are.
Do you know who your people are? Do you know how much they are willing or able to pay for your product or service? In fact, let’s dial it back a couple of steps. Do you even know how much your product or service should cost in terms of the resources (time, effort, systems) required to deliver it?
You should get clear on this stuff. Carry out some research. Get really up close and personal with your people and figure out what they’re prepared to pay and why.
And take a look at how you’re delivering your product. Scrutinise your systems. Can they be optimised? Can you deliver more for less? If there are improvements to be made you can look at your pricing accordingly.
If you take the time to work through and figure out how to apply the superchargers above, I’m confident they’ll have an incendiary effect on your business. If you’re able to combine them, then like Porsche – you’ll find they can have an explosive effect.
I understand that it’s difficult sometimes to take time out to figure this stuff out properly though. Or that it can be lonely and frustrating work. Particularly if you don’t feel supported, or understood in what you’re trying to achieve.
That’s why we created a community of like-minded, fellow entrepreneurs. We’d love for you to join us. Come check out our Facebook group here.
And if you just want to know how to attract your first 5 online customers, clients, recruits, pop on over to RosemaryNonnyKnight.com/5customers- Simon
P.S If you're interested in learning more about performance testing, checkout my Performance Testing 101 course here.