Focus on Experience Instead of Competition
Experience Instead of Competition
Competition is often considered to be a driving force that compels companies and individuals to improve or make changes. Personally, I take a different stance on competition. I believe that there is no such thing as competition. The people that buy are not buying a product or service, they are buying you and the experience you offer. When we shift our focus to what we do inside our business instead of focusing on what other people are doing we can take control of the client experience.
The Value of Experience
The truth is there are likely many people in the same industry as you that are attempting to sell the same product or service to the same clientele. It can be extremely important to understand that ultimately, people buy how you make them feel, whether you are offering a product, service or both. The experience you provide in that buying process is the greatest differentiator between you and others in your industry. Have you taken time to really think about what sets you apart in your industry? What is your client experience like? Are the interactions with clients meaningful and effective? Are you creating an emotional connection or just trying to make a sale?
People are looking for more than a transaction. They want to feel valued, understood, and appreciated throughout the buying process. Your value then lies in your ability to provide a great client experience for those seeking your product or service as opposed to keeping up with your competition.
The Emotional Connection
The emotional connection you build with your client base is one of your greatest assets. This type of connection is created through each and every touchpoint from the first interaction, to final sale, and through the follow up after the sale. Your ability to follow up with your clients can even create repeat business and referrals. The way you communicate, the level of care you take with the client, and the consistency in following through with your promises builds this connection.
This type of emotional connection has also been called relationship currency. When clients feel connected and valued by you and your company they are buying into a relationship. A relationship is built on trust, loyalty, and positive experiences associated with you and your brand. Seeing as all this is uniquely you, others would be unable to replicate the experience you give your clients, therefore negating competition in a traditional sense.
Becoming Client Focused
The most liberating aspect of rejecting the traditional notion of competition is that it allows you to focus more on your client’s needs and less on your competitors. When you stop looking over your shoulder at what others are doing, you can direct more of your energy into enhancing your client experience. You can figure out how to better serve your clients and turn them into advocates for your business and the experience you provide.
The Power of Personalization
One of the key ways to differentiate your business and enhance the customer experience is through personalization. This can be a scary thought if you have been in business for any amount of time you know that standardization is the way you grow a scalable, repeatable, and sustainable business. So, you may be asking, Danielle, would personalization take too much time and inhibit my ability to grow my business? The answer is yes and no. Yes, in the traditional sense of personalization this could bury your current staffing and time availability. No, in that you can create a standardized client experience that can be targeted to certain demographics.
The important thing to remember is this is about how working with you makes people feel by understanding your clients' needs at a deeper level. Then replicating that process to make it scalable, repeatable, and sustainable. The more you can make your clients feel valued the deeper the relationship currency.
Consistently Maintaining High Standards
While the experience is crucial, it is also important to maintain the quality of the product or service you provide. Your clients may be drawn to you because of the experience you offer, however, client retention is generally based on your ability to consistently provide a high quality product or service. Consistency is key to building trust and loyalty with your clients and reinforces the emotional connection with you. They know they can rely on you to meet their needs. Consistency is about being reliable and dependable, all while being responsive and flexible.
Keeping your standards high requires you to avoid complacency. Creating and maintaining high standards means continually looking for ways to improve and innovate. This way your clients are continuously receiving the best you have to offer. This commitment to excellence is another way to differentiate yourself in your industry and build a loyal client base.
Turning Clients Into Advocates
When you shift your focus from competition to experience, you retain clients that can become advocates for you and your business. Satisfied clients who feel a strong emotional connection with your brand are more likely to refer you to others, write positive reviews, and potentially defend your brand against any negativity. Client advocates can become your best marketing tool by spreading the word about your business and how you are different…in a good way.
This kind of advocacy is something that is earned through consistently delivering a great experience and maintaining a strong relationship with your clients. When clients become advocates, they help to expand your reach and bring in new business, which will continue to diminish the relevance of competition.
Redefining Competition
Competition as we traditionally understand it, in my opinion, does not really exist. Your clients are buying into the relationship, the emotion, and the connection they have with you. By maintaining high standards, personalizing the experience, and being consistent, you can create a business that stands out and is uniquely you.
So, the next time you find yourself worrying about competition, remember this: Your real “competition” is the standard you set for yourself and the experience you provide to your clients. Focus on delivering an exceptional experience, being reliable, and dependable. When you achieve this you may find that the concept of competition fades into the background, leaving you with a stronger, more meaningful connection with your clients, and a more stable money maker of a business.
For more useful and applicable tips to bring practical efficiency to modern chaos check out our Youtube Channel.
