The skilled young man was protesting at the potential incomes in place as opposed to the lush opportunities being presented at a roll-out of a new ecosystem for entrepreneurs. Indeed, why IS brand delivery valued in some places more than others? Here's a classic example of why:
Mum needed replenishments for her pain relievers etc, so I went to the usual store, but didn't see what I was looking for. Hmmmmm. "Do you have brand X gel?" I asked. The cheerful, smiling new hire said "We don't have that". "But I bought it here before - please check with the pharmacist?" "Oh - he's not coming today". (Mentally I thought 'so?'). "Is there anyone else who is familiar with the stock?" Shuffle; shuffle and another pleasant person appears. We three trooped to the brand's display shelf and both just looked at me puzzled. I explained "these are the capsules which you swallow, I'm looking for the gel to apply on the skin" Aha! Light bulbs came on and voila! a tube of the gel was retrieved. WHERE was the gap and WHO was responsible for closing it? WHO was going to profit from the sales?
Back to that roll-out I was telling you about. The investor explained that the quality of staff did not justify higher salaries because they weren't willing to work hard enough to make the investment profitable!. Dead silence. Then, applause from business owners. Do staff expect to be paid for merely showing up?
The key solution lies in tying performance management ie delivery of the Brand Promise, with profitability! Firstly train staff in conversational skills and product knowledge thoroughly with role-plays. Then have a pay-for-performance package which rewards them for bringing ideas and innovations to the workplace. The result? Business owners increase their profits and staff get paid more too :) Train and assess.
Want help with designing a systemic approach to put this in place and build the value of your brand? Just call me on 6-03-21697704 or email evelyn@atheneumgroup.net and I'll be glad to customize a plan for you.
BRING ME THE BRAND AND I'LL INCREASE ITS PROFITS!
Showing posts with label competitive advantages pricing strategies. Show all posts
Showing posts with label competitive advantages pricing strategies. Show all posts
Saturday, February 11, 2012
Friday, March 11, 2011
How to Rise Above your Competitors :)
Bu she can't DO THAT!!!! (Oh yes, she caaaaan)
Oh me oh my! She was extreeeeeemely upset by what had taken place. We were ar a lively meeting of dynamic business owners who had gathered to share information about what we are doing and how we want to receive more business. Such meeting glean connections that could lead to business being done, and so observing ethics is critically important to maintaining credibility and trust. Those present represent only their primary business, and don't compete with others in the group, to avoid any unhealthy conflict (yes, peeps conflict and confrontation can be healthy too!)
Anyway, what happened is that someone had spoken up inappropriately about offering the same service as another person - perhaps even unintentionally - but competition had been created where there shouldn't have been. Which member should one buy the named product from?!!! Oh dear!
Ah yes! You can imagine what prompted the protest, even though it wasn't made openly. She felt that her ricebowl had been threatened! Not a good feeling in a grop tha is meant to be mutually supportive, is it?
BUUUUUT the reality is it is increasingly common to have more than one stream of income, and you know what THAT means, don'tyou? Yes, it is difficult not to be offering products and services that might be in competition with those you share platforms with. It is especially true of course when there are independant distributors representing global brands present, as products are then identical. Who to buy the products from?
What's the solution then? Easy beazy! Personal branding, of course! Project your offerings to show why others should do business with YOU instead of an apparent competitor. I have seen this practised very profitably in many groups who are willing to gain more by narrowing their field and sharing marketing platforms, instead of being inward-looking. For example, litgators don't compete with conveyance lawyers for example, even though they both may come from firms tha offer the whole range of legal services. It's ALL about having a mindset of ABUNDANCE! It attracts even more abundance. Need, instead of greed :)
What separates YOU from your competitors that can increase your profits? Want my help in defining your competitive advantage(s)? Just call me at 603-21697704, adn we'll get into it!
BRING ME THE BRAND, AND I'LL INCREASE ITS PROFITS!
Oh me oh my! She was extreeeeeemely upset by what had taken place. We were ar a lively meeting of dynamic business owners who had gathered to share information about what we are doing and how we want to receive more business. Such meeting glean connections that could lead to business being done, and so observing ethics is critically important to maintaining credibility and trust. Those present represent only their primary business, and don't compete with others in the group, to avoid any unhealthy conflict (yes, peeps conflict and confrontation can be healthy too!)
Anyway, what happened is that someone had spoken up inappropriately about offering the same service as another person - perhaps even unintentionally - but competition had been created where there shouldn't have been. Which member should one buy the named product from?!!! Oh dear!
Ah yes! You can imagine what prompted the protest, even though it wasn't made openly. She felt that her ricebowl had been threatened! Not a good feeling in a grop tha is meant to be mutually supportive, is it?
BUUUUUT the reality is it is increasingly common to have more than one stream of income, and you know what THAT means, don'tyou? Yes, it is difficult not to be offering products and services that might be in competition with those you share platforms with. It is especially true of course when there are independant distributors representing global brands present, as products are then identical. Who to buy the products from?
What's the solution then? Easy beazy! Personal branding, of course! Project your offerings to show why others should do business with YOU instead of an apparent competitor. I have seen this practised very profitably in many groups who are willing to gain more by narrowing their field and sharing marketing platforms, instead of being inward-looking. For example, litgators don't compete with conveyance lawyers for example, even though they both may come from firms tha offer the whole range of legal services. It's ALL about having a mindset of ABUNDANCE! It attracts even more abundance. Need, instead of greed :)
What separates YOU from your competitors that can increase your profits? Want my help in defining your competitive advantage(s)? Just call me at 603-21697704, adn we'll get into it!
BRING ME THE BRAND, AND I'LL INCREASE ITS PROFITS!
Sunday, January 23, 2011
3 Tales of non-payments
1 "Aaargh! WHY did they tell me the cheque was ready when it wasn't!!! The business owner was not pleased about having her lunch meeting shortened in vain and her time wasted in going after a payment that she was unable to collect. Yes, the conversations among us then revolved around various ways and means used to collect payments from clients who delayed them, simply because they wanted to buy time. Not pleasant :(
2 "Hey I have a proposal for you! If you give us a 10% discount we'll pay you this week" "WHAT! but you had already signed a contract for the full amount and we've done the work you asked for!" Aha! Now this particular client was actually trying to wrangle a reduction AFTER getting what they wanted. Cheeky!
In both cases the suppliers were simply not going to do business with those companies again, AND they spread the news among their circles too. That's baaaaad publicity and shakes the consumer's confidence in the reliability of the brand's name, and so inviting their competitirs to enter their markets and steal a piece of the pie. Hmmmmmmm
3 "I'm really sorry we can't pay for the extras even though we know that it was an emergency. We got approval from the Committee for your original quote and can't change that now." "Well we can't deliver the rest if our payments are not covered" "We really value our relationship over the years and want to continue doing business with you, so please just tell us how we can make it worth your while, separately from this contract?"
Wow! Now this shows appreciation for the Brand's services doesn't it? And the compensations that were arranged were high-value meetings with new clients accompanied by glowing testimonials. The promise of a higher worth than was sacrificed loomed ........ hehehe. How about that for Brand Value eh?
Are YOU offering something your customers are willing to stay with you for? That's what Brand Building is about - customer loyalty and their bringing new customers to you too! Nice eh? Want some ideas on how to keep your customers in and your competitors out? Call me at 6-03-21697704 and we'll start work on that.
BRING ME THE BRAND AND I'LL INCREASE ITS PROFITS!
2 "Hey I have a proposal for you! If you give us a 10% discount we'll pay you this week" "WHAT! but you had already signed a contract for the full amount and we've done the work you asked for!" Aha! Now this particular client was actually trying to wrangle a reduction AFTER getting what they wanted. Cheeky!
In both cases the suppliers were simply not going to do business with those companies again, AND they spread the news among their circles too. That's baaaaad publicity and shakes the consumer's confidence in the reliability of the brand's name, and so inviting their competitirs to enter their markets and steal a piece of the pie. Hmmmmmmm
3 "I'm really sorry we can't pay for the extras even though we know that it was an emergency. We got approval from the Committee for your original quote and can't change that now." "Well we can't deliver the rest if our payments are not covered" "We really value our relationship over the years and want to continue doing business with you, so please just tell us how we can make it worth your while, separately from this contract?"
Wow! Now this shows appreciation for the Brand's services doesn't it? And the compensations that were arranged were high-value meetings with new clients accompanied by glowing testimonials. The promise of a higher worth than was sacrificed loomed ........ hehehe. How about that for Brand Value eh?
Are YOU offering something your customers are willing to stay with you for? That's what Brand Building is about - customer loyalty and their bringing new customers to you too! Nice eh? Want some ideas on how to keep your customers in and your competitors out? Call me at 6-03-21697704 and we'll start work on that.
BRING ME THE BRAND AND I'LL INCREASE ITS PROFITS!
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