Gaining A Competitive Advantage
I wish that I first learned about getting a competitive over 14 years ago when I first got started in this profession. Having a competitive advantage makes growing your network marketing business so much less stressful and much more fun.
What is a competitive advantage?
When a business has a competitive advantage, they are branding themselves and setting themselves apart from the competition by what they do best. Let’s take the example of Domino’s Pizza. Domino’s pizza came up with the branding of 30 minutes or it’s free. They decided to be faster than everyone else. In doing so, they were also deciding who there target market is. Their customers are pizza eaters that want their pizza fast. They aren’t after those that want a healthier pizza or the best tasting pizza or the cheapest pizza. They had a very specific target market in mind when they decided what their competitive advantage would be.
All successful brands have a competitive advantage over their their competitors.
-Mercedes Benz competitive advantage is luxury.
-Maxwell house is cheap coffee.
-McDonalds is cheap food fast.
Why is a competitive advantage important?
Having a competitive advantage makes you stand out and makes your target market want to purchase from you.
Mercedes makes a luxury car. Part of their competitive advantage is having a higher price point.
What do you think would happen if they tried to attract some of the bargain hunters and made their prices lower?
Even if they were able to maintain their same quality standards at Honda Civic prices, many of their customers would just assume that the cars were simply no longer the same quality and Mercedes would lose customers. Part of marketing to the “elite” is having higher prices. As a result, Mercedes is only trying to appeal to the more affluent crowd rather than people with less money. If they tried to appeal to everyone they would lose a significant amount of their loyal customers.
If you try to attract every one, you will attract no one.
How is this important in MLM?
If you are like most network marketers then you haven’t defined your target market yet and you don’t have a competitive advantage. Your business is probably good for everyone so you are trying to attract anyone on your team. But this will back fire on you and you will have a difficult time recruiting people. Instead pick a target market.
It could be single parents that need more money or it could be busy corporate execs that want more money or some other group of people.
If you try to market to everyone at the same time, then the single mom’s might see that you are also trying to recruit corporate execs and decide that they don’t have the education or the skills to become successful. On the flipside the corporate execs might see that you are also trying to recruit single mom’s and decide that they are “too good” to join.
What they believe about your business doesn’t have to be true or even be fair but it will still affect whether or not they decide to join or buy.
This is important for your product sales as well.
If you sell a meal replacement shake, 2 possible markets (among many) are:
1. People who want to lose weight
2. Professional athletes.
You will have better results if you are focused and decide who your target market is.
I’m sure you see where I am going with this.
If you use messaging that tries to appeal to both then the people who need to lose weight will see that you are also marketing to athletes and they might think that they aren’t healthy enough for a shake meant for professionals. The athletes might think they they are too good for a protein shake that’s meant for “normal” (non-athlete) people.
How do you gain a competitive advantage?
After reading this you may wonder how to gain a competitive advantage. Remember, it’s all about your messaging.
First define your target market. You should know by now that it’s not anyone and everyone.
Second speak directly to your target market in your messaging. When you speak to them in your messaging it’s almost as if you are calling them by name.
When you try to appeal to everyone your message sounds like this:
Try my meal replacement shake it’s good for everyone! People with heart disease and diabetes and people that want to lose weight. It’s great for athletes too!
Or you can be more focused and try something that speaks directly to your target market.
Try this yummy shake, it’s perfect for those that love chocolate but want and need to trim down for bikini season.
This is the healthiest shake on the market, it’s perfect for the athlete that wants to put only the best ingredients in their body.
Which of the above the messaging do you think will attract more people, the unfocused messages for everyone or the focused message for a specific audience?
When you are more focused in your messaging you stand out from the crowd and you have a competitive advantage, but when you try to appeal to everyone, you simply sound like a “me too” product and you appeal to no one.
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