This morning, I was taking a shower and thinking about a recent conversation I had with a new client. Let’s call her Sally. During our discussion about her overall marketing strategy, she stated that she was going to be a $20 million dollar company someday. She wanted to mimic what the big dogs in her industry did. Naturally, this is a pretty typical thought process business owners have when they are trying to appear larger than they are and want to compete and play on the same level as their larger competitors.
“So you want to compete with your largest competitors on price then?” I asked. Obviously, this was not the response she was expecting for me.
I went on to explain that if you want to mimic your competitors and do what they do in terms of your marketing, how will consumers tell you apart? The answer is they won’t.
Instead, they will think you offer the same products and level of service, so the only factor left to look at is price. Do you want to really compete on price? Usually those who win on price lose on margins.
So how do you stand out from your competitors?
The answer: stand out by telling your customers your story and the WHY behind why you do what you do!
Story + Mission = Amazing
Think about the last time you went to Target to buy a bottle of shampoo and conditioner. As you walk down the aisle, you see hundreds of choices. There are different shapes of bottles, dozens of fragrant scents, and an array of vivid images plastered on the front of every bottle. How do you choose which one is right for you with so many choices?
This recently happened to me. As I stared at all of the options, my eye was drawn to Shea Moisture. The first thing I noticed besides the intriguing ingredients was the little heart with the phrase, “Community Commerce Fights Poverty.” I wondered what it meant, so I flipped the bottle over and read the story about Sofi Tucker, a widowed mother of 4 who lived in Sierra Leone in 1912. She started off selling shea nuts to support herself and her children and went on to develop shampoos and soaps and finally SheaMoisture. She is the grandmother of the two current owners who have carried on her legacy and are now helping empower disadvantaged women to realize a brighter, healthier future through Community Commerce.
Not only does SheaMoisture have a heartfelt story behind their brand, they’re living their story everyday through their actions. According to their packaging, for every purchase made, 10% of the profits go to support women empowerment in three key areas: Entrepreneurship, Education and Equity. They invest in communities, by funding training, infrastructure and safety programs to sustainably source indigenous ingredients, grow local manufacturing of high quality goods in their villages and provide fair prices for their labor.
Create lifelong, emotionally-connected customers
Did you know…
- Emotionally connected customers can be 50% more valuable than other customers (Harvard Business Review).
- Customers who are emotionally connected to a company are less price sensitive (Customer Thermometer).
I can personally attest to these facts, as I’m now an emotionally connected SheaMoisture customer and fan who will continue to purchase their products versus going back to my previous high-end, salon products.
Have you shared your story with your customers and staff? There is no time like the present. After all, if you want to stand-out and avoid competing on price…tell your story! Wild Fig Marketing can help.
PS: Want to learn more about SheaMoisture? Check-out their site: https://www.sheamoisture.com/