How well do you know why people do business with you, and not with someone else?
In other words: Do you know why, actually, people give you money?
You might answer:
“Because we’re the best”, or:
“Because of our customer service”, or:
“Because we’re an award-winning XYZ”.
But unless you’ve done your homework and the answer is what your customers themselves have told you, you’re probably mistaken, or at the very least, you’ll have an imcomplete picture.
If you want to grow your company, then you can’t afford to go with what you think your people think of you.
You need to get out there and talk to them, and figure out their reasons, and not the reasons you think they have.
It’s called market research, and it’s the very first thing you should do, if you want more customers like the ones you have & love.
We all know this, yet hardly anyone does it.
So we throw more money at ads.
Hire more sales reps.
Create more offers.
Build more websites.
Do more content marketing.
Causing an enormous levy on resources, when we don’t even know the horse’s-mouth facts about why people pay us.
It’s a losing proposition.
Get the foundation in place first: find out from your people why they choose you, and not someone else.
Then build up and out.
Because how does it make sense to spend resources, when you don’t even know your differentiator – your USP – yet, don’t know what sets you apart and makes you desireable, in the eyes of your buyers?
Know your differentiator.
Not in terms of what you think – but in terms of what they say.
That’s exactly why the IP to Profit system starts with surveying your people.
Check it out here.
Also published on Medium.