Knowledge Base Increase Your Customer Count Increase Customer Frequency Increase the Average Sale Increase Effectiveness of Processes Unique Core Differentiators THE 4 WAYS TO GROW YOUR BUSINESS It may sound a little simplistic, but there are really only 4 fundamental ways to successfully grow your business. In other words, make it more valuable: Increase the number of customers of the type you want to have Increase the number of times customers come back Increase the average value of each sale Increase the effectiveness of each process in the business It's interesting to contemplate the fact that all of the business development strategies you might implement will fall into one of these 4 categories. Any other strategy that does not belong in one of these 4 ways, for example cutting costs, may help you temporarily, but it won't grow your business. Cutting costs won't make your business more valuable unless you turn around and re-invest the money you save into one of the 4 ways. The Power Of Synergy These 4 ways work best when used together in an overall strategy. Think about the concept of synergy.  The whole is greater than the sum of its parts. The mistake many companies make is to focus on just one of these 4 ways, and thus miss out on significant growth opportunities. Let's look at a dramatic example of how the 4 ways can work together for you. Let's say you have a customer base of 1,000. You are able to increase the number of inquiries (and thus new customers) by 10%. This means your customer base would increase to 1,100. You are able to increase the number of times each customer purchases from you during their lifetime by another 10% (e.g., from once to 1.1). You manage to increase your average sale (or transaction value) by 10%, taking it from $100 to $110. Improvements in your business processes have allowed the first 3 increases to occur. Assuming everything else is equal, does it make sense to say that overall business would grow by 10%? In fact, something completely different happens. Something that could mean the difference between a profit and a loss, between a comfortable lifestyle for you and a wealthy one. Increasing all areas at the same time has a multiplier effect of not 10% but a staggering 33.3%! That's an increase of $33,100 in profit as a result of the synergy of all areas improving. What about a 20% increase in each of these areas? An incredible 72% increase in bottom line dollars! At the beginning of this article, we mentioned that this way of putting together a business strategy might sound simple. It really is simple, but not necessarily easy. Of course, if it were that easy, all businesses would already be doing it! The good news is - with a little knowledge and the courage to do some things differently - you can make changes in your business that lead to 10, 20 or 50% increases in your bottom line. Are you ready to get started? Back to Top     Increasing Your Customer Count Of the 4 ways to grow your business, winning new customers, or customer acquisition, is where most business owners focus first and for good reason. However, there is an absolute key success point that must be understood. You must focus your attention, energy and money only on the type of customers you want to have. Customer acquisition is known as the front end, it's the face of your business and the first time customers see you. While there are hundreds of ways to win new customers, we'll be focusing on 5 major strategy areas. Back to Top Developing Unique Core Differentiators Tapping the Power of the Phone Implementing Sales Systems and Techniques Investing in Marketing Communications Exploring Other Promotions Unique Core Differentiators (UCDs) People buy based on differences they perceive between one business and the next. Developing your own UCDs will help potential customers understand the added value, expertise, quality or service you offer. There are 3 kinds of UCDs that can apply to any kind of business: Actual - something that is genuinely unique about the way you do business Perceived - how customers think you are different than your competitors Created - something you develop in order to be different (the way you serve people, the processes within the business, etc.) What are some of the UCDs you could be promoting right now? Examples could include: awesome customer services, satisfaction guarantees, faster delivery, etc. Do some research to find out what your competitors are saying is different about the way they do business and differentiate yourself even further. Sales Systems The concept of selling doesn't have to be intimidating, particularly if you think about it in terms of solving a problem or filling a need. You are doing your customers a disservice if you fail to do everything possible to explain how purchasing from you will benefit them. The bottom line is that people buy from a business they trust. Creating effective and consistent ways of selling within your business will help build that trust. You'll increase your sales and your customers will walk away happy, having found just the solution they were looking for. Here are some basic strategies for creating a sales system within your business: Developing a sales technique and process (i.e., creating rapport, asking detailed questions, talking your customer's language, empathizing with their concerns, etc.), and training team members to use it consistently. Creating sales tools such as educational documents for your customers. Mapping out sales forecasts to determine your direction and a solid path to follow. Tracking conversion rates, the difference between the number of inquiries you receive and the number of actual sales, is like taking the sales pulse of your business. Including cross-selling, up-selling and bundling products or services together as part of your ongoing sales strategy. Avoid using the term "quote," as it focuses the customer on the price rather than the value. Offer a "proposal" or "action plan" instead. Have a follow-up system in place--up to 80% of sales are made after the 5th contact! Marketing Communications To improve your return on investment in marketing communication pieces (e.g., letters, advertising, emails, direct mail), a targeted rather than shotgun approach is very important. Your marketing should focus on a specific group of people who are the right type to purchase your product or services. Once you do identify the target audience, here are some important tips on what your marketing communications should say: Headlines should grab readers' attention immediately and be something that really hits home. Copy should be limited to the benefits customers will receive rather than just the features of your product or service (e.g., they're not so much interested in the drill, but rather the hole it can make for them!). Keep in mind the concept of W.I.I.F.M. (What's In It For Me) Include your unique core differentiators and testimonials. Include special offers and guarantees to entice contact. End with a call to action and a response vehicle so you can gather information. Make sure to include testing and measuring as part of any program--how much response was generated by each piece? It could save you a bundle of money on media that is just not working. Other Promotions One of the keys to a successful sales and marketing program is being consistent and constant. Setting up an annual promotion schedule keeps you motivated to maintain regular activity. In addition to the strategies for winning new customers we've already talked about, here are some other promotional activities you could put on your schedule. Holding special events (grand openings, new product unveilings, value-added seminars, contests, etc.) Free publicity through public relations (press releases, editorials, community service, etc.) Web-based promotions (through your own or someone else's web site) Networking (tradeshows, trade organizations, chambers of commerce) Creating a referral system (harnessing the power of word-of-mouth, rewarding customers for referring others) Establishing host relationships (you and a non-competing business create joint campaigns that target each other's customer bases)       Increase Customer Frequency Winning new customers is known as the front end, and customer retention, or getting your current customers to come back to you, is known as back end marketing. Increasing the number of times your customers buy from you is vital to the long-term health and profitability of your business. The more frequently they purchase from you, the greater your profits and the greater the longevity and value of your business. Think about this: It costs 6 times more to win a new customer than it does to have an existing customer purchase again. Why? Because you invested time and money to acquire that customer for the first sale and every additional sale after that has no cost to it. So for every sale you make to a previous customer, you actually keep more profit. Instead of spending a lot of money on cold canvassing potential customers, use your already proven list of previous customers. Classifying Customers One of the first ways to ensure that the right customers keep coming back is to classify your customer base into tiers: A, B, C and D customers. "A" customers would be your best and most desired, the ones you WANT to work with because they are loyal, dependable, or just plain nice. "B's" have the potential to become A's with a little work. C's are not ideal, and D customers are ones you'd just rather not deal with again. This classification process means that your ongoing communication and marketing approach will be more appropriate for each group. For example, your A customers are the ones you most want to keep working with, so you might invite just them to join a preferred customer club, or A's and B's would get special mailings and offers, etc. You could even go so far as to ask your D customers to go elsewhere, freeing up more time and energy for your preferred customers. Does this mean that D customers are bad people? Of course not. More than likely, they just don't have a need for the product or service you are offering. For example, my father is one of the greatest men I know. But he would rate as a D client. Why? Because he hasn't spend more than $100 on accounting services in his entire lifetime. Just Ask Them To Come Back Could it be that simple? Most businesses fail to recognize the profit potential in inviting past customers back. It really is as easy as that assuming that they were happy with you the first time. Once a customer is delighted with a product or service, they want to continue the relationship. Making them feel important and valued gives them the incentive to do that. Remember that 68% of customers who leave you for your competitor do so because of perceived indifference. In other words, they didn't feel that you valued them or were concerned whether they bought from you or not. Not following up to say thank you and please come back, not making them special offers or sending them special mailings and not asking for input all can be perceived as indifference. Provide Awesome Service Another great way to keep customers coming back to you more often is to offer service that goes above and beyond the norm. Creating a team commitment to service can impress your customer enough to keep them returning and referring others. The commitment could make certain promises of performance standards, and could explain your business ethics and mission. Examples of value-added services could be: Ongoing education, advice or support to help customers get more out of their purchase Guarantees (e.g., on-time delivery, satisfaction, etc.) Soft dollar thank you gifts (items with a perceived high value and low hard dollar cost) So highlight what you do extremely well (e.g., offer better or faster service, longer warranties or stronger guarantees) to give your customers ways to differentiate you from your competitors and Nurture Them It's important to nurture your relationships with your customer in the same way you would any other important relationship. Nurturing is the most cost-effective way to make customers feel valued and motivated to keep purchasing from you. The more you stay in touch with them, the more likely they are to remember you. Here are some ideas on how to nurture existing customers: Collect information on your customers and keep it in a database (phone, address, buying patterns, personal information such as birth date). Develop an annual communication calendar for contacts you'll make with your customers. Send regular mailings to build on the relationship (newsletters, offers, calendars, service reminders, thank you notes, special articles of interest, holiday cards, etc.). Keep in mind the W.I.I.F.M factor and highlight the benefits coming back to you will bring them. Establish a loyalty program that rewards frequent purchasers. Make follow-up phone calls to make sure they are 100% delighted with the product or service they received. Gather Feedback And Use It Following up with your customers after their purchase to ask for feedback can avoid post-purchase dissonance as well as set you apart from the competition. Asking for feedback lets customers know that you are truly interested in them and their opinion, something other businesses just don't bother with. The feedback you get can be extremely valuable for your strategic planning. Follow-up calls. It's important that the team members you assign to follow-up phone calls are trained to handle complaints, which can actually be turned into praise. Establishing policies and procedures for looking after unhappy customers can do this. Everything possible should be done to turn them around Satisfaction surveys. This is another medium for gathering feedback, although it's sometimes difficult to get them returned, particularly if the customer is happy. You may want to ask customers who submit positive comments to be a reference or provide a testimonial for you Customer Advisory Boards. Very useful in gathering feedback and suggestions. You invite a group of frequent customers to come together and discuss a particular aspect of the service they received, what they valued, what could be improved, etc. Our firm has facilitated several of these sessions for ourselves and our clients. A truly powerful tool. When you do make the effort to gather feedback and the customer has made the effort to give it to you, don't waste it. Use the information to continually improve the way you do business and let customers know that their suggestions are being used. Back to Top     Increase The Average Sale Customers come to you for help and guidance. So it's important to let them know about all the options including additional products or services that are available to add on to the original purchase. If you let them just come in, select their item and then leave, you've missed an opportunity to further assist them with a solution and make that transaction more profitable for yourself. You've put a lot of time and money into getting that customer in to your business in the first place, so increasing the average sale (or transaction value) means more profit for you. What is your average transaction value? It's the total value of sales divided by the number of customers purchasing. Let's look at an example: Last week your business brought in $4,286. Checking your sales records show that 62 customers actually purchased items last week. This means that $4,286/62, or $69.13, is your average sale for the week. What would happen if you were able to increase that average sale figure to $74.60 (only an additional $5.47 per customer). It would take your weekly income from $4,286 to $4,626.50. Now the difference of $339.50 per week might not seem like much, but multiply it by 52 weeks a year and you get an additional $17,654! Now that's something you just can't ignore. Strategies for Increasing The Average Sale Here are of the strategies you can use to increase your average transaction value: Cross selling Up-selling Packaging Merchandising Margins and Pricing It's a good idea to develop a sales system that includes these strategies. That way you know that each team member is following the same system consistently. Cross Selling Cross selling is when you sell other products or services from your range in addition to the customer's original choice. Another term used to describe it is suggestive selling. You suggest additional items to complement the purchase. For example, McDonald's makes it a point to cross sell every time you visit. They ask "Would you like fries or an apple pie to go with that Big Mac?" It's so much a part of their culture and training that if a team member fails to cross sell 3 times within a shift they are reprimanded and retrained. To start you thinking about possible cross selling opportunities within your business, go back and look at your major product or service offerings and ask: What else could we offer to go with this item that would add value and help the customer get the most out of the purchase? You can then develop cross selling checklists for each item that will guide team members in making suggestions to customers. Up-Selling Another strategy to increase your average sale is to up-sell purchases from lower to higher priced items. A great way to do that is to offer your products or services in 3 or more tiers, along the lines of good, better and best, or bronze, silver and gold. Your first tier might be your budget items, the ones for price-conscious buyers. Your second tier is the one you actually want the majority of customers to buy, and your third tier items will appeal to those who are happy to spend a little more for more value. Bundling In bundling items or services together into one single purchase you add value to your customer. It's designed to make your products and services more attractive, create a higher perceived value for the customer and increase your average transaction value. For example, an electronics retailer might offer 6 free blank videotapes with any purchase of a VCR. Instead of discounting the price by 20%, a manufacturer might offer free installation. A health professional might bundle together an assessment and 8 sessions for the price of 6. Merchandising Signage, ticketing, presentation and packaging, traffic flow, and point-of-sale displays are all types of merchandising that can increase your average sale. Having educational information about your products or services and sales tools like testimonials or brochures can help build customers' confidence in your business and increase the sale value. Surprisingly, your on-hold messages can spark a customer's interest and increase the average sale. For example, if you call a business about a specific product or services and you're put on hold for a moment. A recording comes on that tells you about other products or services that you may not otherwise have known about -- causing you to ask for more information or come in and see for yourself. Margins And Pricing To increase your average sales, you must have a firm grasp on your margins and how they affect your bottom line. Avoiding discounting and price wars is important to maintain and increase your average sale. Let's look at some examples: If your present margin is 35% and you reduce your prices by 10%, to produce the same profit as before the discount, your sales volume must increase by 40%! That's not to make more profit; it's just to get back to where you were before the discount. It's not very likely that a 10% discount is going to spur an extra 40% in sales. On the other hand, if your present margin is 35%, and you increase your prices by 10%, your sales can reduce by up to 22% to maintain the same profit. This probably wouldn't happen either. Why? Because statistics show that only 15% of the market actually purchase on the basis of price alone. If you can differentiate yourself in the market, showing why your products or services are worth more, your sales could actually increase even with a price increase. What you offer suddenly seems more valuable. So increasing rather than decreasing your prices could be worth further investigation for your business. Back to Top     Increase Effectiveness of Processes This is the last, but definitely not the least, way to grow your business. This is the step that ties it all together. To accomplish the previous 3 ways we've talked about, you must make sure that certain processes exist within your organization. Without changing and improving the way your business operates, it will be very difficult to successfully implement the strategies we've talked about. Let's discuss briefly some of the basics of improving your business's internal processes: Back to Top Developing a Mission and Goals Understanding S.W.O.T. Working ON not IN Systematizing Building a Team Developing A Mission and Goals Understanding your real purpose of being in business and establishing its overall mission can help you build better processes. Once you have a mission statement, everything you do and say must support that mission. It can help guide you in developing a business plan and in goal setting. It will also build understanding and trust in your customers' minds and give your team members clearer direction. Understanding S.W.O.T. Addressing your Strengths, Weaknesses, Opportunities and Threats (S.W.O.T.) is important to your business development. It will help you improve your problem areas, and ensure that you use your strengths and opportunities to full advantage to win more customers, keep them coming back and spending more each time. Completing an analysis of your industry, competition and customers can help you improve your processes to make sure the first 3 ways to grow your business are head and shoulders above your competitors'. You can also measure your current operational performance (e.g., delivery record, customer satisfaction, etc.) to identify S.W.O.T. Setup ongoing measurement systems to ensure that you are meeting targeted goals. Working "ON" Not "IN" Do you every feel that you're stuck day in and day out handling the myriad of little things that pop up in addition to taking care of regular operations? Well if you keep doing that, you certainly won't have the time to implement any of the ideas we've talked about today. By working ON your business instead of IN it, you'll be able to step back from the day-to-day activities and look objectively at your business as a whole and what needs to be done to help it grow. What are some things you could do right now in your business to free up more of your time to work ON it rather than IN it? Systematizing One of the first things you can do to free up more of your time and make your business run more smoothly is to systematize every process that needs to be completed to serve customers and generate profit. We're talking about mapping out and documenting every single step of every single task, from answering the phone to closing up at night. Edward W. Demming (redesigner of the Japanese car industry) completed a study that showed that only 4% of business mistakes were due to direct human error. The other 96% was due to lack of consistent systemization. Systems clearly spell out what it takes to run your business. Documenting those systems can help to train team members, delegate responsibility and create consistency. This all works to your advantage because 1) you now have more free time to do the things you want to do, and 2) it makes your business more valuable because it doesn't have to depend entirely on you to operate. Building A Team Understanding why the word "team" is so critical could improve your business processes and your working environment dramatically. Creating processes within your business can allow you to delegate more to team members, making them feel valued and giving you more free time to work ON your business rather than IN it. Building a business based on functions rather than people can help you too. Instead of building jobs around specific people, focus on the functions first and match them with the right people. Training is an important area for improving processes and keeping good team members. Building team members' skills is the only way to implement change in your business effectively. Whether it's how to answer the phone, computer skills, customer service or financial recordkeeping, it is extremely important to the ongoing development of your business to ensure that your team members are trained and challenged.       Unique Core Differentiators (UCDs) Perception Is The Reality - People Buy Based On Differences They Perceive Imagine you're very hungry. You're walking down the street and you see two delicatessens right next to each other. The one on the left looks like an average deli, reasonably clean, a range of food items, a few people inside, and a sign on the window that displays the name and the year it was established. But as you look at the deli on the right, the difference between the two is obvious in an instant. There's a big sign on the front window that says "Passionate about food!" Underneath that it says "At Pret a Manger we are passionate about food and the pleasure it brings. After years of practice, we have developed a range of sandwiches, salads, soups and desserts that are unique, delicious, healthy and freshly prepared each morning in this shop. We bake our own bread and pastries, and insist on providing you with the highest quality and quickest service...all with a smile." The deli is also packed with smiling people. Based on that initial assessment, which deli would you most likely step into first? Why? Was it because the deli on the right seemed to offer something better or more appealing? Could it be true that both deli's offered similar products? It's the differences that potential customers perceive that make them choose one business over another. Those differences make the customer feel more confident about their final decision as well. That means you must differentiate your business or develop what we call Unique Core Differentiators or UCDs. Unique Core Differentiators Unique Core Differentiators (UCDs) clearly articulate what makes your business different. They are the special things about your product or service or business that compels customers to buy from you rather than your competitors. UCDs target real buying concerns, key frustrations and benefits for your customers. They form the "core" of your business, permeating every area, in order to fulfill the differentiation promise. UCDs must be communicated in all of your marketing activities in order to work effectively. Do You Have Any Unique Core Differentiators? Think for a few moments about some of the things you think are unique about your business and jot them down for later. It could be that your business offers a better, or more unique product or services. Or perhaps the specific way you deliver the product or service brings better results for your customers. Maybe you offer a better value, or the experience within your team far exceeds the competitors'. UCDs Are Powerful In Five Ways UCDs are powerful in five ways: They articulate exactly what your customer wants: Well-formed differentiators target your customer's "hot buttons", real buying concerns, or key frustrations. In one statement it educates them about exactly why they should buy from you. They improve the results from your marketing: Makes you highlight the "benefits" of your product or service rather than just the "features" in all of your marketing activities. They give a specific focus to your team: Gives a consistency of purpose to everyone on your team in the way they present themselves and deal with customers to support what you've said differentiates you. They improve the operation: They must sit at the "core" of your entire business and the systems you use. They help increase sales: Brings customers in, keeps them coming back again and again, and builds a referral network all without ever lowering your prices. Some Examples Of UCDs Shipping company: "Absolutely, positively overnight" created a point of differentiation among shipping companies for Federal Express. They also had to improve the core of their operation in order to deliver on their promise. Dentist: "Our aim is for you to enjoy your visit" providing tea service in a comforting setting - a 12 page booklet on what differentiates them is given to each client. Construction company: "We will pay you $100 for every day we go over the targeted completion date" targets customers' key frustration with builders...that the deadline is hardly ever met. Grocery store: "The fresh food people" targets customers' desire for the freshest produce. Retail clothing store: "Every customer demand will be met...without question" has customers purchasing again and again from Nordstrom?their personalized customer service is also a differentiator. Three Types Of UCDs Unlocking, discovering or creating UCDs in your business can be a key to generating better results from your marketing and sales efforts. When you're are examining the ways in which your business and what it delivers is unique, remember that there are three types of UCDs: Actual UCDs: when there is something genuinely unique about your product or service Example: "Parts Overnight" The founder of this very successful company realized that it was next to impossible to fix a laser printer overnight...the average turnaround time was 6 weeks. Why? Because only a couple of very large companies carried the spare parts for technicians to order. Because he guessed that people might like to get their fixed printer sooner than that, he developed a unique way to deliver printer parts overnight to technicians, and offered a guarantee on quality. The technicians are happy because their customers are happy, and the company went from $4,000 to $20 million in just 4 years. Created UCDs Did you come up with a list of things that differentiate your product or service from your competitors? Perhaps you can't find anything that is truly unique about it. If that's the case, you'll need to create a point of differentiation. It helps to examine the WAY you do business rather than just the product or service. For example: A guarantee unlike any other offered in your industry A level of after-sales service that surpasses all others A unique delivery or installation process An 800 service hotline Example: Wholesale Baker offers a risk-free guarantee...if the retailer does not sell the baked goods, the baker will buy them back at full price. Captured the majority of the local market because it solved a key customer frustration and gave them a reason to buy from him. They don't even mind paying a slightly higher price because of the guarantee. He removed his own risk by qualifying the guarantee with "after you've paid within 7 days of delivery." Perceived UCDs You may still not have anything in your business that's totally unique. However, if you're the first to articulate a perceived difference (even though your competitors do the same) you'll stand out in the crowd as if you are unique. Examples: Coors Beer tells the story of how their beer is made with water from the freshest springs in the mountains to give it its special taste. When in actuality, Coors is made the same as its competitors'. The only difference is that no one else used it in their marketing. Mercedes Benz does the same thing with safety. Finding Your Own UCDs So get out that list again that you wrote down. Now look at it from your customers' perspective instead of your own. What benefit are you providing? What key frustration are you removing? Are you willing to go the extra mile to differentiate yourself? What is something that everyone in your industry is required to do, but no one articulates as a UCD? Add any new UCDs that you come up with to your list. Finding Your Own UCDs...Ask Your Team The next step you need to take when you go back to your business is to ask your team members what they think your key UCDs are. You may be surprised at what you hear. Often your team members have much more daily contact with customers and really have a handle on their needs/frustrations and how to address them. Include the new UCDs your team members come up with on your list. Finding Your Own UCDs...Have Someone Ask You If you and your team are still having difficulty finding something about your business that is truly unique, a very useful technique you can use it to sit down with someone you trust who does not work in your business and have them interview you. This could even be your RAN ONE accountant. It's a good idea to tape the interview because you'll probably come up with several UCDs without knowing it as well as a wealth of great marketing copy that you can put to good use later. Instead of asking, "what is unique about your business," the interviewer should ask questions that dig deeper such as: "Tell me what happens in your business every day...from start to finish." "Why do you do it that way?" "Why do you think people buy from you?" Example: Fast Food Chicken Restaurant When asked about his UCDs, the business owner could not find anything that he did differently than any other fast food restaurant. But when asked what happened in the business every day, he went on to explain that the team arrived at 5:00am to scrub the entire facility, and finished at 10:00pm because they did it again at closing time. They did this because cleanliness is important to customers buying chicken. He also went on to say that it was important to be open early to take delivery of hundreds of fresh chickens every day from a local poultry farm. This was important because people like the taste of fresh chicken rather than frozen. In addition, the local farm raised them without hormones resulting in 20% less fat content. All these things were key concerns of his customers. So the business was, in fact, doing things differently without realizing it. And that the things he was doing, while not visible, but would strike a cord with customers. He went on to document these differences in his marketing activities. Sales increased dramatically and repeat business soared. Finding Your Own UCDs...Ask Your Customers Asking your customers why they decided to buy from you can be helpful because your perception of why people buy from you and the experience they have doing it can be quite different from theirs. "Why did you decide to purchase from us?" "What differences did you notice between our business and other providers of the same product/service?" "What were the top 3 things that mattered most to you when you were selecting which business to make your purchase from?" "Were you happy with your experience purchasing from our business? What can we do to improve the experience for you?" Example: Property Development Company The company thought the major reasons new tenants would move into its townhouse complex was for the facilities (pool, play area, tennis court, security patrol), and thus used the facilities as the focus in their marketing. However, the new occupancy rate was sluggish. When the company asked the few tenants why they had moved there, they said it was because the townhouses had 3 bedrooms, were new, and cost the same as older, smaller apartments in the area. Since it wasn't the facilities that potential tenants were looking for, promoting them wasn't hitting their hot buttons. When the company changed their advertising and placed those 3 considerations in the headline, the complex was fully occupied within 2 weeks and had a waiting list. Finding Your Own UCDs...Finalizing The List After you add your team's ideas, your interview responses, and your customer's input to your UCD list, it's time to look at each item on the list and ask the question: "Is this true or not, and would my competitors say the same thing?" Be honest! Cross out anything that doesn't really differentiate you, or doesn't provide a customer benefit/address a frustration to finalize your UCD list. Making Your UCDs The Core Of Your Business In Built to Last: Successful Habits of Visionary Companies (Harper Collins 1994) James Collins examines the differences between directly competitive companies, and points out that some of them outlast, outperform and outrun the competition. He says these "built to last" companies have a central core that is the basis upon which all business decisions are made...this is what differentiates them. Once you have established your UCDs, you must then make them a central focus of your business. Your products, services, and the way you operate should all be guided by what you've promised in your UCD statements. And when you're faced with a difficult business decision, you can go back to the "core" for guidance. Once you have established your UCDs, you must then make them a central focus of your business. Your products, services, and the way you operate should all be guided by what you've promised in your UCD statements. And when you're faced with a difficult business decision, you can go back to the "core" for guidance. Shout Your UCDs From The Rooftop The final step after you've created your UCDs and integrated them into the business is to make them the focus of your marketing efforts. The mistake most businesses make is that they don't include UCDs in their marketing; they focus on the "features" rather than the benefits and expect customers to buy just because they are in the marketplace and are saying, "buy from us." Take charge of the situation, and make sure that everything you put into your advertising, promotions, signage, brochures, stationery, delivery vehicles, shopping bags, etc. clearly articulates exactly why you are unique and why potential clients should buy from you. If you don't, they'll make their buying decision based on something else...something that might lead them elsewhere. Back to Top

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