Jerry Fletcher en Directors and Executives, Entrepreneurs, Marketing CEO • Z-axis Marketing, Inc. 9/11/2017 · 1 min de lectura · 1,7K

Thrashing What Everybody Knows

Thrashing What Everybody Knows

Actions do speak louder than words.

When you operate on the basis of "everybody knows" you enter into a world of hope, half-truths and heaps of pain. Examples:

1. Price

Everybody knows that if you're product is the "new kid on the block" your price should be the lowest. WRONG!

A client reported this week that after a proposal had been accepted he asked the new customer what the cost of a competitor's service was. The response: "You guys have a superior product and do things they can't begin to. We were surprised you were $50,000 lower."

Your price should reflect the value of the product or service to the purchaser.
jerry Fletcher

2. Target

Everybody knows that when you design a product for a specific audience you should stick with that audience even if you get sales elsewhere. NOPE!

A startup I've done some work with always knew that the product they had designed would have to interface with what utilities demanded of their tester market. Suddenly they were being asked to sell their software product into the utility market. They almost said no. Then we ran the numbers. The market was between 10 and 100 times larger.

My definition of marketing is:

  • Go where the money is.

  • Sell what they want to buy.

  • Do it again.

Adjust or expand your target to follow the money to maximize profits.
Jerry Fletcher

3. Name

Everybody knows you need to have a snappy name that is memorable and tells people exactly what your product or service is all about. SORRY CHARLIE!

I'm the example here. When I started consulting I called my business Z-axis Marketing. We incorporated under that name, bought the URL and did all the graphic branding using that name. People couldn't pronounce it or remember it. They had difficulty remembering the URL much less spelling it.

The moniker you use should be the one people use to refer to you or your business. Consulting or professional businesses are wise to incorporate the name or names of principals. Product or service businesses need to home in on what they deliver in client, customer or purchaser terms. Get too far from the generic and people will not be able to picture what they get from buying from you.

A name should be memorable, easy to spell, easy to say, sound like the product or service if possible but most importantly reflect the way people identify the kind of business you are naming.
Jerry Fletcher

Every part of your marketing should be subjected to the same scrutiny.

Whenever the phrase, "everybody knows" enters the conversation, even if only in your own mind, step back and have another look. Look at the actions of the prospect rather than resorting to wishful thinking.


Jerry Fletcher is a beBee ambassador, founder and Grand Poobah of www.BrandBrainTrust.com 

His consulting practice, founded in 1990, is known for Trust-based Brand development, Positioning and business development on and off-line. He is also a sought-after International Speaker.

Consulting: www.JerryFletcher.com
Speaking:
www.NetworkingNinja.com



Jerry Fletcher 11/11/2017 · #14

#13 Thanks Nathaniel, I appreciate from others I consider pros...especially when it is positive.

+2 +2

Nice article @Jerry Fletcher agreed entirely 🙏

+2 +2
Jerry Fletcher 11/11/2017 · #12

#1 Glad you liked it.

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Jerry Fletcher 11/11/2017 · #11

#2 My pleasure

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Jerry Fletcher 11/11/2017 · #10

#3 You're welcome

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Jerry Fletcher 11/11/2017 · #9

#4 John, Your description fits a lot of the work I've done. In general the decline in price over time can be expected. Many time the "promotional price" is there only to establish a product in the market and get early adopters to try it. The key is to look at each situation on its own and get all the data points you can.

+1 +1
Jerry Fletcher 11/11/2017 · #8

#5 Phil, generally I agree with you. Funny thing about SAAS businesses is that when you have a significant differential over established products that is easily demonstrable in a market that is being constrained as the example was it is easy to establish the value after you've gone in at the low or mid-point and been told they would have accepted a price over their previous resource. That's why I prefer doing a little research on the front end of pricing to get a feel of what the value to potential customers might be. One of the beauties of working with Consultants and Professionals is that I can teach them how to coax out what their various solutions might be worth in prospect interviews and then write value-based proposals that get signed and frequently "sell" upgrades to additional "phases" of an engagement without having to do another proposal.

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Jerry Fletcher 11/11/2017 · #7

#6 I've been thinking about that Jim. Might be interesting.

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