As I always say, there is no future in the market, or at least not a bright future like the one I wish for my students, for those who remain undifferentiated and limit themselves to doing what others do but a little less.
The typical “best product at the lowest price” strategy is intended to lead you to failure in every respect.
In fact, the direct consequence is that of seeing the margins of your business cut, forcing you to work more to earn less, eliminating the resources needed to build your marketing, perhaps forcing you to cut the commissions of your sellers and so on.
In short, from these three lines it is already evident that the “more less” strategy is not winning.
In case you need more proof, we just need to remember what happened to Mercatone Uno, who had the “universe of savings” as a payoff, a bankrupt company that left hundreds of families in difficulty.
But let’s get back to us, I didn’t want to talk to you about Mercatone Uno, when it comes to differentiating myself, I see my students almost paralyzed more and more often.
I actually understand that it is not easy, in a hypersaturated market like the one in which we find ourselves, identifying an element that makes you the best choice for the customer is fundamental.
In reality, however, examples of companies that find their differentiation even in the most inflated markets can be found in abundance.
An example?
Let’s take women’s pantyhose stockings, now I’m not a great expert, but you tend to find them everywhere, in clothes shops, in chains like Calzedonia, Golden Point and so on (I did my research).
In each of these stores the process is very simple, enter, the classic sales clerk attacks you with a “if you need something…”, they show you some models based on your size and your personal taste, you buy and say goodbye until next time.
And this is more or less the process of buying in any store that sells anything.
Why should one sock be different from another? Everything revolves around how strong they are and how beautiful the fantasy is, but there is not much else that can mark a true point in favor of one brand rather than another.
How can you make this product different?
We managed a small French company, Gambettes Box, that was decided to selling pantyhose stockings by subscription.
The concept they express is simple: “the stockings are broken, we all know that this happens, so when you are about to go out with your dress on, you realize that you have no stockings to wear it with and you have to give it up… avoid this by subscribing to Gambettes Box!”
An idea so simple, combined with French atmospheres that suggest elegance, style and all those feminine things that women like, has decreed the first successes of this company.
The buying process is very simple, you subscribe to the online site and with a fixed monthly amount you receive two pairs of surprise stockings every month.
This way the brand in question can forecast the revenue month after month, knowing how many subscribers it has, for however long they continue to buy and how many unsubscribe on average.
Examples of this kind are fundamental to keep in mind, because the truth is that there is no different sector, there is no product that cannot be diversified and there is no activity in which you can cross your arms, waiting for customers to come from you attracted by convenience.
Coming back for a moment to our brand of stockings by subscription, is it enough to find an idea and make people run? Obviously not, along with the product, Gambettes Box sends you a brochure in which it tells a story every month, does online sponsoring, collects emails and constantly communicates with its list…
In short, it implements some of those strategies of which I speak in the Circle of Entrepreneurs.
In fact, every month I share with my student subscribers:
- Frank Merenda’s paper dossier, with all the news in marketing that will be RESERVED for the members of the club (they will not be available elsewhere).
- Special insert by Moreno Bonechi on marketing automation and customer acquisition from online to offline.
- Exclusive booklet on copywriting by Roberta Parente.
- Monthly Webinar with Moreno Bonechi, Roberta Parente and Raffaele Di Cristo.
- Updates on the Reserved Area. Every month we will upload about an hour and a half of video (on average) of me, behind closed doors, training my members and my most restricted staff.
- “Brand Report” updates from month to month, where my Brand Positioning teachers, Al and Laura Ries, will directly answer questions from club members.
- SQUEEZE THE LEMONS: this is the course that shows you how to immediately increase your turnover by up to 10 times.
- Member privileges of the Circle of Entrepreneurs: members of the Circle of Entrepreneurs will have special offers on courses and Made on Planet Frank events.
There are 8 essential tools for those who, like you, want to see their business grow.
You can also now access the Circle of Entrepreneurs through the Metodo Merenda app, the first Netflix model platform for business training in the world.
Just like with Netflix, log in and view. Or download the content to your device so you can even enjoy it when you’re disconnected or traveling.
Why wait to enjoy all this goodness from God?
Click on the button below and get more information on how to become a member of my “Circolo degli Imprenditori”!
Rock ’n’ Roll!!!
Frank