Keys to Creating Business Distinction
In today's hyper competitive, high-churn business environment, strategic rethinking is the main focus of many business leaders. While some are content with only minor adjustments, others are faced with the challenge of drastically revamping their brand.
Scott McKain, a well-known business speaker and author, often discusses how finding and focusing on distinction in business is the key to success. If you are looking to restructure your business model, here are a few principles he has shared that are worth considering:
- Distinctive Sales: – It is essential to set your business apart. Most companies and their competitors sell their products in similar ways, so it is imperative to "sell the differences that make yours a preferred choice." Metrics should match this – for example, in the call center, focusing on cost-per-sale and maximizing returns over more short-term measures will ensure the focus is where it counts.
- The "Ultimate Customer Experience®" – Increasing customer lifetime value is crucial. When enrollment or the busy season comes around, customers are relying on your brand – and its people – to provide them the best possible experiences. Producing, and managing, a customized, memorable experience for them will generate loyalty and countless referrals.
- Leading With Distinction – If you lead your business "like everyone else," your results will be unremarkable. In order to achieve extraordinary results, it is essential to be creative in your approach, from the top down.
- Develop a Distinctive Culture – Culture trumps strategy. With so many different demographics in the marketplace, how do you develop a fluid, unique culture focused on differentiation? It's a challenge, but in reality, multiple generations and the diverse interests of professionals today dictate a nuanced business approach that takes individuality into account.
A final point – it is important to partner with other organizations and build seamless alliances with them that result in differentiating experiences – at every touchpoint – that are consistent with your brand. After all, what good is distinction if it isn't maintained across the board?