You should have this as your goal for your product or service. What information will help set the buying criteria in your favor? Data makes your information work harder, no matter what you sell. If you want to serve your buyer, then being a market expert not just a product expert means being more knowledgeable than your competitors.
If you really want to serve your buyer, then you must be a market expert and not just a product expert. This is simple since most of your competitors will be more concerned about selling product than about positioning themselves as experts. In cases where I have personally run companies using these strategies or helped clients do the same, we have literally slaughtered our competitors.
Two more examples of Educational Based Marketing I worked with another company that sold research aids to tax experts (accountants and lawyers). They were focused on product data: “Here’s our research aid and here’s what it does.” I got them to focus on market data: “The IRS now requires you to take these 22 steps in your research. These are steps you can’t possibly bill to the client, as no client will pay for all this. So what you can do instead is use our products. These products speed up this process.” Market data made the product data MUCH more important Here’s example two. I had a client that sold pictorial calendars that ranged from puppies to Pamela Anderson. We did some studies and found that, per square inch, bookstores were outselling massive retailers by 40% more volume.
I had another client that sold calendars ranging from Pam Anderson to puppies. We did studies and found that per square inch, bookstores were outselling large retailers by forty percent more volume. Here’s why: Bookstores were putting calendars right by the cash registers. So, if you are standing in line to check out you see a calendar on cars such as Mustangs.
Your boss loves Mustangs so you buy him the calendar. Mass merchant stores were putting the calendars in the back by the stationary department. They weren’ t selling nearly as many calendars. By showing this date to more and more stores, this client increased sales 20% in a single year whereas they had not had an increase in sales for four years prior to using this market data to motivate better positioning of the calendars.
Author: Chet HolmesThis author has published 2 articles so far.