Are You a Commodity?

commodity

“A market is never saturated with a good product, but it is very quickly saturated with a bad one. ”

 

Henry Ford

Ford Motor Company Founder (1863-1947)

 

The iPhone 5 released last week.

 

Over the weekend, I overheard someone bemoaning the iPhone she currently has. “It’s so bulky,” she complained.

 

The New York Times gave the following review:

“Faster chips, bigger screens and speedier wireless Internet connections are among the refinements smartphone users can count on year after year in new models, most of them in familiar rectangular packages. They are improvements, to be sure, but they lack the breathtaking impact the first iPhone had, with its pioneering fusion of software and touch-screen

How many people do you know with a smart phone? How many have more than one or have “upgraded” the same day they were able? Good product – saturation has not happened yet..

Many businesses complain because their product or service is a “commodity.” This is not true if you have found your differentiation and are providing a superior experience. However, the superior performance has to be visible and readily recognized to the client.

Often we feel we are doing more and providing better value than our competition. Here is a short test to determine if it has an impact:

1. Does your customer ask for the added value before you provide it?

2. Do you have to point out the value for your customer to recognize it?

3. Is your value based on credentials that hang on your wall?

 

If you answered yes to any of these, your customer may not be aware of the value you provide. Time to educate them.

 

Add Value:

5 Reasons Your Marketing Doesn’t Work
Reason 2: Tactics Instead of Strategy
(Poulsbo Chamber Office – September 26, 11:30p-1p)

 

Leadership Boot Camp
Next-Level Leadership
(Cafe Noir – October 5, 8a-12p)