Stand Out in the Crowd
Do you want to stand out in the crowd?
You are in the market to sell your goods or services. There are a lot of people in your space, so to speak. So, of course you want to stand out in the crowd!
How to Stand Out in the Crowd
There are many ways businesses try to do this, mostly via advertising:
- SEO companies are selling you on getting you to page one on Google.
- Facebook advertisers are wanting to boost your posts.
- Web developers are telling you a new website might do the trick.
Now, all of those are important. In fact, there might even be a Blue Elevator™ Group client to help you do that. But beauty, as they say, is only skin deep. Successfully promoting your product or service is only part of the equation.
Stand Out in the Crowd – Is Your Good or Service a Commodity or Something Custom?
It seems the majority of entrepreneurs and their companies – in a given space – seem all the same. In essence, they have become, by default, commodity businesses.
I like this definition of commodity from the Cambridge Business English Dictionary:
Commodity: a product that is the same as other products of the same type from other producers or manufacturers.
All too often, entrepreneurs are pedaling a commodity (“a product that is the same as other products”).
Is Your Business Perceived as Something Custom or a Commodity?
It doesn’t matter what your business is. Your business or organization could be a private school. You could be a home improvement company. You could be an online advertising company. You might even be a shirt maker.
How can you tell if your product is a commodity or something custom?
Blue Elevator™ maintains the belief that no one can truly see themselves. You can read more about that here. It’s important to be objective. But, how can you tell how well you have differentiated yourself?
- Is your product or service flying off the shelf, so to speak?
- Are you having trouble keeping up with the demand?
Those could be indicators of a job well done. However, having temporary robust sales does not mean you are out of the woods. You still might be a commodity.
Pricing – the Sole Driver of a Commodity Business
Your product could be flying off the shelves because you are the “low price leader.” For commodity businesses, pricing becomes almost the sole means of differentiation.
For commodity sellers, when sales start to slow, what do they do? Lower the price, of course. Lowering the price is supposed to boost sales. The only problem is, and assuming it does, this becomes a death spiral. Each price reduction tightens margins and impairs your ability to scale your business.
Would you keep all of your sales if you increased the price of your goods and services by 20%?
If you are afraid of raising your price, you might be a commodity or maybe you have Owner-itis . The antidote for Owner-itis is a well-developed Deliverable.
Having a Deliverable is the Key!
Having a well developed Deliverable is the key to developing a “custom” product.
At Blue Elevator™, we help our clients create a custom Deliverable. In summary …
- Your product or service must stand out in the crowd (e.g., be one that consumers demand). The old adage is true: figure out what the customers want and deliver it to them.
- Your product or service should NOT exclusively compete solely on price (e.g., not be a low price leader). In fact, we believe it might even sell for higher than the market average.
- Your product or service should have great margins that create bottom line profit that helps you scale.
So, in essence, your goal is to deliver (e.g., that’s why Blue Elevator™ calls it a Deliverable) a good or service the market wants. Deliver it at a price consumers will pay. Deliver it at a price and margin that are both profitable and scalable. If you can do this, then God willing, you are well on your way.
Reyn Spooner – A Great Example
Let’s consider a great company: Reyn Spooner.
Reyn Spooner is a premier clothing company, primarily noted for their “best of brand” Hawaiian shirts.
Reyn Spooner had its beginnings in 1949. Reynolds McCullough, hence “Reyn,” started as Reyn’s Men’s Wear located on Catalina Island, off the coast of California.
Eventually, Reyn made his way to Hawaii and teamed up with seamstress Ruth Spooner in 1956. Reyn Spooner was born. The rest is history – or shall we say, legacy.
From our vantage point, Reyn Spooner has built a fantastic brand. And, they definitely stand out in the crowd.
The legacy of Reyn Spooner includes quite a litany of attributes: custom, limited edition prints; reverse print styling (a trademark practice of turning the printed fabric inside out to give it a subdued appearance); classic oxford construction; box pleat for ease of movement; button-down collars; vented sides; an extra button; a placket (e.g., the front seam of the shirt that you button); and a chest pocket that is so expertly matched to the surrounding print, it’s practically invisible.
They make their clothing in a variety of textiles. They even have their own custom blend they call Spooner Cloth™. It’s breathable, wrinkle-free, and comfortable. Basically, it’s everything you would want in a shirt.
Blue Elevator™ loves everything about this company. Not only is their product excellent, but so is their customer service.
They have a simple, seamless website that is super easy to order from. We know – because we did. They ship quickly. The product comes to your doorstep perfectly packaged. They have awesome customer service. Just e-mail them! Their rewards program is simple and commensurate.
Not only that, but they are probably one of the few large companies that understand social media. Most large companies use social media as billboard advertising. Reyn Spooner understands the “social” aspect. Meaning, they actually engage with their customers and constituents – in exactly the same way as if someone were visiting their brick and mortar store located in Hawaii.
We invite you to check them out: Reyn Spooner. And, tell them that Blue Elevator™ sent you!
Bravo, Reyn Spooner, you definitely stand out in the crowd!
Summary
At Blue Elevator™, we help clients establish their very own custom Deliverable. God-willing, we can help you transform from being a commodity into something custom.
Do you want to stand out in the crowd? If this sounds good to you, we’d invite you to contact us!
DEC
About the Author:
Ken Moll is the Principal and Founder of Blue Elevator®. With professional experience spanning four decades, Ken has a breadth of foundational business knowledge rarely found – making him part of an elite class of professionals. Ken's passion is helping clients of Blue Elevator® get their “business to the next level™.”