Mac Wrigley

Posts Tagged ‘customer service’

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Do You Have a Unique Value Proposition?

In Sales, Social Media on January 26, 2012 at 7:00 am

Most of us spend our whole lives trying to fit in. In middle school, we cling to any type of social camouflage that will help us blend in and not be singled out. It’s Survival 101 during those awkward years. Somewhere along the line we outgrow this phase and seem to find our footing. However, this social pressure to blend in can hamper our efforts in business. If you’ve ever been asked the question “Why should I buy from you versus your competition?” you know all too well how important it is to be able to differentiate yourself from your competition.

There are some very literal ways we can stand out. For example, I’m tall, bald, and pasty. I stand out in almost any crowd, whether I want to or not. If you’re a business owner, chances are I’m taller, balder, and pastier than your banker. It’s become my calling card. It makes me unique and memorable.

For some, it can be difficult to stand out in a crowd. But more importantly, it can be difficult to stand out in your field. Many of us do not have a decent answer to the above question. We fall back to clichés such as “My customer service is better than theirs” or “My services cost less”. The former isn’t really a differentiator. Customer service gets you a seat at the table. If your service is poor, you’re probably not in business any longer—particularly in this challenging economy. The latter is a trap many of us fall in to. We allow our products or services to become commoditized and allow price to be the only differentiator. Often, we make this an issue and essentially teach our prospects to only differentiate on price, regardless of value.

This lack of differentiation is very common in almost any profession. If you are tasked with sales and marketing, however, this issue is of monumental importance. The real issue at stake here lies in what is known as a “Unique Value Proposition” (UVP). Your UVP is a succinct statement that tells your prospect what you do and why it matters to them. It also tells them how you are different. It can be as simple and short as a single sentence, or it may be a few sentences. The important thing is that it is clear and understandable to your target audience (your prospect or referral source) and that it sets you apart from the crowd.

I recently met with a group of professionals and discussed the importance of having a UVP. Each of us went around the table and offered up our own UVP to the group and received feedback. Most of us really liked our UVP’s but found that some changes needed to be made. We found that the best UVP’s had a few things in common.

Here are some important things to consider in crafting your Unique Value Proposition:

  1. Be clear and concise. Be careful not to use your own industry specific language that your audience might not understand.
  2. Explain what you do and why it is important to your audience.
  3. Differentiate yourself. What do you do different from your competition? Why does this matter to your target audience?
  4. Consider your UVP from your prospect’s perspective. Do they really value what you are emphasizing? If they don’t, it isn’t really a differentiator and your UVP is just a UP without Value.

Remember, your UVP is all about your prospect. It should be meaningful to them because it’s an ongoing concern for them or it should make them aware of a problem they might not have considered. It is also important to routinely check and update your UVP as your market and competition change. You may also make adjustments to the value you provide your clients. Any such changes may change your UVP.

Here is my UVP:

As a Business Banker, I provide banking solutions for businesses and their owners.

Many bankers are really just loan officers. In other words, their main tool is a loan. My clients have told me the problem with this approach is when your only tool is a hammer, every problem looks like a nail. While a loan is a very useful tool, there are also many other tools available to help businesses achieve their goals. Not every business problem can or should be solved by a loan. A banker who focuses solely on making loans views all problems through that lens.

By contrast, I am a client focused banker. I put the client at the center of everything I do. My success comes from guiding my clients to the achievement of their goals. I use a consultative approach in helping business owners resolve both routine and complicated problems and finding workable solutions.

Just as I believe not all banks are the same, I believe not all bankers are equal. What additional value does your banker provide for your business?

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There is No Such Thing as a “Red Tailed Panda”

In Change, Management on July 29, 2010 at 2:57 pm

Probably the funniest thing to a zoo keeper is setting up a habitat for a nocturnal animal at his zoo which is only open during the day. The zoo keeper and his staff are all in on it, hiding in the bushes, watching us stare blankly into the cages for twenty minutes or so. They’re choking back laughter and slapping each other on the back.

None of the paying public even knows if species such as the “red tailed panda” actually exist. I actually went to a zoo once that had a nocturnal unicorn exhibit. It took me an hour or so before I realized what was going on. Apparently the unicorn was sick so he went to see the vet. Needless to say, I didn’t get to see it.

I haven’t really heard too many complaints among the zoo going public about such exhibits yet, and these are my people—parents of small children. One would think we would eventually catch on and see the farce for what it was and take our business elsewhere.

I wonder how often we have “red tailed pandas” in our businesses. Allow me to explain, I’m well enough educated to know that “red tailed pandas” do not actually exist in real life. It’s a metaphor where the mythical “red tailed panda” represents inconsistencies in our businesses.

Do we claim to have “the best customer service” then not deliver? Do we tell our employees they are “our most important asset” and then treat them otherwise? Sometimes such “red tailed pandas” are by mistake. But other times, we might be perfectly cognizant of such inconsistencies but not care enough to do anything about it. This is probably just as bad, or worse, than hiding in the bushes and laughing at those that believe such “myths”.

Someday when I own my own zoo (oh it’s happening!) all my exhibits will be clearly marked and if there is a nocturnal exhibit, the zoo will have extended hours. If the habitat has a sign that reads “red tailed panda”, well I don’t exactly know what I would do with that.

But I do know this: transparency in business is a good thing. When we do what we say and say what we do we build trust and foster meaningful relationships with our customers and employees in such a way that allows us to be successful. The absence of trust is the death march for business.

If we can eliminate any “red tailed pandas” from our organizations, we can begin to build the requisite foundation from which our core competencies can be rightfully put to their highest and best use. Doing so gives us the best chance to succeed by doing what we do best. Now if you’ll excuse me, I’m going on a snipe hunt.

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Bacon Spam

In Management on July 1, 2010 at 2:17 am

Bacon Spam

I was walking through Wal-Mart the other day when I came across a startling discovery that changed my life. This is a common occurrence for me in Wal-Mart as one might suspect.  The word innovation gets tossed around quite a bit today. We’ve diluted its true power by calling small product improvements “innovative” simply because they put a new twist on an old product.

However, that day in the canned meat-like substance aisle forever changed my understanding of true innovation. For it was there, next to ordinary Spam, that I stumbled upon “Bacon Spam”. As fantastic as it sounds, Bacon Spam consists of Spam flavored with Bacon. I’m serious.

In this earth shattering moment, two thoughts immediately crossed my mind: 1: Why would anyone ever do this to Bacon? And 2: I have to buy this.

From a marketing perspective I began to reflect upon the reasoning in creating such a product. As near as I could tell, this represented the first major product innovation in the canned meat-like substance category in decades. Surely it would rock the Spam world as the product has taken quite a beating over the years. So downtrodden is Spam’s brand, that we’ve named our unwanted junk emails “spam”. As if canned meat-like substance had no intrinsic value, or could provide you with free long distance, or enlarge your manhood.

The more I pondered the quantum leap in this beleaguered product segment the more excited I became at the possibilities. What other less desirable products might benefit from a bacon endorsement? Might we see “Bacon AOL”? Perhaps GM capitalizing on bacon’s saving grace with a similar breakfast meat inspired SUV? The possibilities are endless.

As undeniably groundbreaking as the discovery of the fusion of canned faux meat and the best breakfast meat was, soon a profound truth emerged. I became fairly certain that I was the Spam to my wife’s Bacon.

This metaphor can also be applied to business. I believe business is built on relationships. We do business with those we know and trust. A great deal of time and energy is exerted in developing and maintaining those relationships and these are among the reasons that customer service is so important. Most of us realize how important our customers are to our business. We know they are our Bacon. We need them.

But how do our customers view us? Are we the Spam to their Bacon? Are our businesses edible only because our customers have never tasted filet mignon? Is our main benefit merely shelf life? Do we simply provide decent, if uninspiring, security? Do our customers do business with us mainly because they’ve been with us for years? Do we provide them any value? Or are we just lucky they’re stuck in the same can as us?  If so we are in danger of losing them to the competition.

Remind your customers why they do business with you. Demonstrate your value to them in solving their problems and making their lives easier. Show your appreciation to them for doing business with you. Good customer service starts before the sale and sometimes when no sale occurs at all. If you provide value to a prospect, eventually they will become a customer. If you constantly provide value to your customers they will never have a reason to look elsewhere. Remember, your customers have other options. Never give them a reason to see you as just ordinary Spam.

This post was first featured in The Idaho Business Review.

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