bootcamp presentation 4 differentiation
TRANSCRIPT
Let’s refresh ourselves of our aims and goals of doing this work
Our AimBy December 2015 we will have a tool kit that will provide the
basis of a marketing plan – a route map by which you can bring your product / service directly to market.
Our Goal
For 2016 it is to lower the cost of getting customers by 50% and
increase the rate of keeping them by 50%
Review on what’s we have discussed so far?
The Marketing Audit – what we are doing or planning to do
Setting out some goals based around numbers including break-evens. The difference between activity and strategy
Customer buying behaviours – getting to grips with customer value. Boston Matrix and a customer audit
This Months BIG sessionUnderstanding what’s at the heart of a
product or service. – using this to create the difference from your
competitorsThe aims
• Take a service and productise it!• The three levels of a product – an analysis
• Creating a Unique Proposition• Competitor analysis – a positioning map
Taking a service and creating a product
What is a service? Intangible Cannot be stored Consumed at the point of
sale Does not result in
ownership Hard to qualify and judge
without context
What is a product? Tangible Can be stored Is taken away and
consumed or kept Has ownership rights
and can be sold on Can be qualified and
judged by others
Taking a service and making a product
Why do we do that? Because it:Provides Clarity – appears almost tangibleCan be delivered over a specified time and
not immediately consumedOwnership can be transferred part way
throughBenefits and features articulated as a single
offerIt can be ‘augmented’ and ‘pro-actively
priced’
The Tutor Doctor Service Delivery
An example
On the face of it We Sell Tutoring Services
In reality we sell opportunity
A Product – broken into threeThe Three Levels
Service and Product DevelopmentCore Product
Benefits that make it valuable to the user Actual Product
Something that is tangible, generic – but also replicableAugmented
Non-physical, tailors the core / actual product to customer - differentiates
Changing the Mind-SetFrom a service
To a product
Coaching Packages
Target Free Consultation
Personal coach /
tutor selection
1:1 Tutoring in your home
Academic Gameplan
– superior coaching
One-Day Workshops
Component Price
£
You Pay
£
Save!
Full Year Academic Program
A & AS Level
Students
52 Hours
4 Hours of 1:1
coaching
Up to 3 to choose from
£2,385-00 £2,191-00
2 Term Academic Program
A & AS Level
Students
36 Hours 4 Hours of 1:1
coaching
Up to 2 to choose from
£1,690-00 £1,554-00
Crammer Pack
A & AS Level
Students
24 Hours 2 Hours of 1:1
coaching
1 to choose from
£1,157.00 £1,065-00
£194
£136
£92
Take 10 minutes List the ‘core’ of your product / service - benefits
Write down its generic form
Write one thing that you do or could do to augment this
Could you create a package and bring in proactive pricing?
Your Unique Proposition5-steps to define it!
1. Profile your customer2. Identify the problem and how you
solve it3. Look at what ‘benefits’ you can
deliver4. Set out your ‘promise’ and how you
intend to keep it5. Write down a paragraph that says it
all
1. Customer Profilingcreate a portrait of your customersbreak down your customer into
groups sharing similar goals and characteristics
give each group an avatar with a photo, a name, and a description.
https://www.helpscout.net/blog/customer-profiling/
2. What problem do you solve?
what is the individual need or challenge your client’s face that your business can solve for them?
3. What benefits do you want to deliver?
What are the biggest benefits a client gets from choosing to work with you?
What sets you apart from someone else?
From the clients’ perspective explain why your services are important to them
List why they would choose you over another provider
4. Your Promise – implied in everything you do
Not a description of what you doIt is partly ‘your mission’It is the ‘character’ of your businessIt is the means of providing value to
your customers
Two examples of a brand promiseWhose Promises are these?
“To inspire moments of optimism and uplift.”
John Lewis
5 Write it down
Remember
Your key to positioning Positioning is a marketing strategy that
aims to make a brand occupy a distinct position, relative to competing brands, in the mind of the customer.
A Product – broken into threeThe Three Levels
Positioning Map 1
Positioning Map 2
Perception rather than actual
Positioning Map 3 – My Favourite
Market Perception
Demographic
Take 10 Minutes Think of your product / service and its market placeWhat needs does your product / service satisfy?What features does it have?How would you rate the quality?
On a positioning map with Price on the horizontal and a Benefit / Feature on the vertical position your offering
Any questions?