My background is podiatry and just like a lot of other service-based businesses in the health and finance industries, what we offer, or should I say what we sell, because that’s exactly what we do, cannot be seen, it is basically invisible.
Now I know podiatrists, dentists, physiotherapists do sell some product, like strapping tape, dental floss and knee braces, but before a patient or client to even know you have these products to sell, they need to make the decision to see you first.
80%
Even in my own podiatry practice, more than 80% of my income was generated from custom-made orthotics and modified arch supports, which is a tangible product and can be seen and touched, but the vast majority of patients did not know orthotics where going to be part of the treatment.
So once again, right at the beginning, patients/clients and customers are choosing service-based businesses without being able to see, feel, smell anything
Services Are Personal
It’s important to understand that products are not personal. You buy a new flat screen TV, a computer or washing machine, and it stops working, you send it back to the manufacturer, who is usually a complete stranger. You don’t know who they are and you do not care.
A service, on the other hand, is very personal. When you get advice from a service-based business, such as a podiatrist, dentist, business coach or any other service provider you normally would have had met them one-on-one, so if their advice fails it becomes very personal.
It’s this personal level that makes choosing a service difficult and why your business is often overlooked.
100% Product Based
If you think your business is 100% product based, not service based, you’re wrong!!!
Let me explain. If your competitor down the street is selling the same, or similar product to your business, your potential customers will base their buying decision on price, so if you want to stay competitive you may have to reduce your prices to match the competitor, and we see this all the time.
In Australia, Bunnings have a price match guarantee. If you find a lower price elsewhere for the same product, we’ll match it and take off 10%. They will do this even if it means making a loss.
But Bunnings is a huge company and can afford to say this, but most small businesses cannot, so you’re only other option is to Value Add.
Value Adding
And more often then not, value adding means providing a better service. So even if you’re a product business, to stay competitive your service will set you apart.
Therefore, just like the service industry, you now have to market something that cannot be seen until they have met you.
So what is the solution?
Here’s my three-step process for marketing your services, not your products.
1. You need to understand who your ideal client is. This is paramount and it’s a topic I covered in a previous Five Minute Friday, Episode #4: Your Ideal Client
https://www.tysonfranklin.com/news/podcast/1126-your-ideal-client
When you know your ideal client you spend less on marketing and you can target your message to the clients that matter most.
2. You need to understand what fears, concerns and pain points your ideal client is facing.
In podiatry, most patients will see us because they have pain in their feet or lower limbs, and making a custom orthotic for their feet or shockwave therapy may be part of their treatment, but what we’re really selling is pain-relief.
We’re selling a vision of the future of being able to run around with their children or walking their dog and enjoying a long healthy life.
If you sell televisions, you already know you’re selling enjoyment and entertainment, and maybe a cinema experience, but what are your customer’s fears and concerns. Televisions are becoming huge, so do you offer free delivery and have you got a great warranty, and does the warranty include pick up?
Address their concerns and you’ll sell far more.
3. Target ALL your marketing messages to your ideal clients and answer the questions going on in their head. Think about their fears, concerns and pain points and offer solutions in your marketing messages.
If you can follow this three steps you’re marketing is going to be more effective which will be reflected in your profits.
If you have any questions about this podcast/blog, please email me
Dave Frees MASTER CLASS – CAIRNS
On the 17th of August 2018, Dave M. Frees will be running a one-day MASTER CLASS on ‘Communication, Persuasion and Influence’. Bookings are NOW OPEN and for more details, please visit https://www.tysonfranklin.com/it-s-no-secret-business-conference (Limited to 50 attendees)
I will be the MC for the day and also be doing a presentation ‘How To Use Audio In Your Business To Increase Sales And Make More Money’.
FREE DOWNLOADS:
First 16 Pages of My Book – It’s No Secret There’s Money in Small Business.