True Stories Part 2 - The Foundation of Your Future

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Competing on Pricing

As a business, company, or brand - most owners would prefer not to compete on pricing when all is said and done. "Always be profiting!" - but what how do you NOT compete on pricing? How can you explain the difference in getting your premium service which will benefit your customers/clients in the long run.

I remember I used to use a line during the sales process that went a little something like this "That cost savings will buy you more headaches down the road…" - you can keep that one. The ones that got that became clients, the ones that wanted to nickel and dime me, well they went else where, but after 5 or 6 months, they came back ;)

You may have noticed this technique in TV commercials now-a-days. Comparing the long term costs of own X model car versus Y model car. "That's the line, Wesley. Tone it down and dress it up and get your press boys to chant it-and you won’t have to worry." - Mr. Thompson (Atlas Shrugged)

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Testimonials / Experience

"How do we even know it works?"

Customer testimonials can make or break a product. Good ones can propel sales through the roof, bad ones in terms of reviews, can taint the brand and create headaches for the business owners. The key is to constantly showcase more customer testimonials of satisfied users which look genuine and have the authenticity to get through social proofs. Video testimonials are one great way of getting people on board with your product, if you can get raw footage that's even better. Pro-tip: Offer a future discount, or encourage them with a reward to get people to interact with your products and send them to you! ;) And as always, we're here to bring the professional highlights to your brand.

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Hyper Focus

So focused, it's contagious. When you deliver a new product to the marketplace, or an upgrade, sometimes being focused on one benefit can have a tremendous advantage instead of laying out a dozen smaller benefits. Next time in an advertisement or your next propaganda, try focusing simply on ONE main benefit to the end user and see the reaction. ;)

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Targeting Your Audience

Are you in the right corner of the market? Are you advertising to the right segment according to your market research? There is nothing like trying to sell toolsets at Whole Foods… Know where your target audience lives, hangs out, commutes to, what websites they visit, what mobile devices do they use, what social platforms are they more likely to be apart of, and engage them there...

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Be The Loudest - If You Can't Be The Best

Sometimes you can't be the best, there is a clear #1. And if you can't outshine them, then out speak them - make your presence known as an alternative. Coming in as the underdog can give you a huge advantage like Avis's slogan for years "We Try Harder", cause they were seen as #2 to Hertz. The unofficial tagline was "When you are #2, you have to try harder". This created their own allure and place within the ranks of car rental companies, even if they had none before. First understand your market, then figure out what your unique selling point is - and exploit it left and right. Drown the audience in it, make it known, and be the loudest. Even if you are not #1, at least your sales will increase ;)

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Curiosity into and Addiction

The greatest hook is turning curiosity into an addiction. Getting them hooked like a drug fiend. First you give them a little taste, than they keep coming back for more and more. It's an addiction, even if they try to stop, they can't. Can you convey that level of want for your product?

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Innovation

Innovating is what puts you ahead of the competition, and can make you stand out in a crowded niche. Bringing something new and fresh to the market - even if it's simply just telling your story in a slightly new fashion can make you the trendsetter of your niche. Others will look up to you, try to copy your style, or even fashion their own brand around you. Use this alluring status to grip the industry, and steer it in a direction that benefits your products/services.

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Competition

Decimation - Never let up on the competition, when they slip, attack - directly or indirectly and keep on the attack until they are destroyed. Don't give them room to breath. If they have a screw up with a product, a bug, or sloppy service, call them out, send your drones to call them out, make it seem like attacks are coming from all sides, and that your product/service is the superior choice. The key is knowing when to attack directly, when to attack indirectly, and when to hold back and let the enemy fall on their own face. Continue shining and polishing your brand, while they play in the mud.

"If any of my competitors were drowning, I'd stick a hose in their mouth" - Ray Kroc Founder of McDonald's.
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Feedback for Versioning

Feedback is one of the most important things a business can get. A brand, company, or niche can live or die off of feedback. If you don't listen to your customers, if the barrier to entry is low enough, someone else can come in and take your business. Are you providing avenues for feedback for customers? Don't just do it passively, actively follow up in a week, 3 weeks, 6 weeks, then 12 weeks, or whatever you deem necessary. If you aren't overly aggressive, they'll appreciate it and may even refer friends/associates to you. Next step is to incorporate the biggest problems' solutions into the next version of your product/service. ;)

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Do Your Customers Understand?

Do they get it? Are you explaining things to them in a scientific format that only an expert in the industry, niche, or field would understand? Or are you treating them like kids and talking down to them? When you education a customer, while showing respect for their intelligence, you'll have a happier and more loyal customer, that'll send you serious referrals ;)

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The Future

Does your brand represent the future of your industry, or currently the copycat me-too of the times? Are you looking down, or looking forward? Do you see the cliff coming at you, are you changing course, or about to fall off the trail? Do you see the curve coming?

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Who Are You?

Self identity is the at heart of man's path in life. As a brand or company, the way clients and customer identify with your products and services define your core. If the core is lacking, and the marketing is all smoke and mirrors, soon enough the customers will see it for what it is. So when doing your market research, the question is - Who Are You?

This is CCarter, signing off.

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