More Clients Memorandum
Are you in a satisfied or sceptical market?
Most of us operate in fairly mature markets.
Perhaps our specific services or products are relatively new, but the end-results we get for clients are typically end-results that have been promised to clients for aeons: more sales, lower costs, higher productivity, better leadership, etc.
In a mature market it's especially important to be different somehow as there will be lots of competitors promising the same end-results as you.
If the only thing you tell your potential clients is the same “I can get you X” message as your competitors then they'll pick the one who promises X at the lowest cost.
But how to best differentiate? I've found that there are two different types of mature market, each with different opportunities.
In a Satisfied Market, the majority of products and services on the market do what they say and deliver the core benefit clients are looking for.
Toothpaste is a good example of this. Pretty much every modern toothpaste on the market cleans your teeth and reduces cavities.
So given that customers are largely satisfied with the ability of toothpaste to clean their teeth, you need to focus on additional benefits and on niches that value those additional benefits.
That's why today we see so many variations of toothpaste. Toothpaste for whiter teeth, for fresher breath, toothpaste for kids, toothpaste for people with sensitive teeth.
In the car market, every car will get you from A to B. So the focus is on other benefits, often emotional ones. Safety, prestige, economy, environmental impact, image.
Are you in a largely satisfied market where clients believe that most service providers do a good job and meet their core needs? If so, you need to focus on the additional benefits your services can bring and find a niche that really values them.
The second type of mature market is a Skeptical Market.
In a skeptical market, clients have bought products and services before yet haven't got the results they've been looking for. This might not be due to any failure of the products or service provider – just that what they're looking for is tough to achieve.
Anti-wrinkle cream is a good example. I'm sure they work to some degree, but fighting ageing is a tough battle. Similarly, in many service markets it's often tough to help clients get the improvements they're looking for. Improving leadership, teamwork, presentation skills, time management, sales, costs – all of these have multiple contributing factors and sometimes despite the best efforts of service providers, clients just don't get the results they were hoping for.
That means that when clients are looking for help in the future, they're often highly skeptical of the claims of potential suppliers.
Rather than the problem in a Satisfied Market of clients choosing competitors because they believe everyone can do a good job, in a Skeptical Market clients often choose no-one – because they don't believe anyone can help.
So your main challenge in a Skeptical Market is to get clients to believe that you can actually deliver. That's often done with testimonials and examples. But often you also have to show clients that your “method” is different to everyone elses and that's whey you can get results when everyone else has failed.
In the world of anti-wrinkle cream you'll notice that adverts tend to focus on the new ingredients the creams have. Whether it's “Q10” or “Trylagen PCB” or “Palmitoyl Oligopeptide” – the purpose of focusing on new ingredients is to give potential buyers a reason to believe that this cream might work when others have failed.
Are you in a skeptical market where many clients have struggled before to get the results that you're promising them? If so, you need to focus your marketing on proving you can succeed where others have failed.
Ian Brodie
https://www.ianbrodie.comIan Brodie is the best-selling author of Email Persuasion and the creator of Unsnooze Your Inbox - *the* guide to crafting engaging emails and newsletters that captivate your audience, build authority and generate more sales.