It is often said in sales that a “tactic known is a tactic blown.” In simpler terms, when your customers are fully aware of your price and services, the only thing you have left to control as a marketer is the price. So how does one circumnavigate this? How can you differentiate your local business, attract prospects, gain their interest, and motivate them to act? Let’s delve into this fascinating journey of effective marketing strategies that go beyond price wars.
Understanding Your Business: The Known and Unknown
Each business, local or not, can be divided into two main parts: the part that people know and the part that people are unfamiliar with. The first part, the known, is often a commodity. This means that it is so common that the price and the nature of the service are public knowledge. Take the example of a chiropractic clinic. Most people know the average cost of a visit and what to expect from the service.
This inherent knowledge presents a significant problem. It restricts the only lever a marketer has – the price. The only option you have to attract customers is through discounting the price. You can offer a bundle of services for a certain price point or perhaps a discount voucher. But beyond this, there isn’t much room for manoeuvre.
However, this isn’t the entire picture of your business. The second part, the unknown, opens the doors to a realm of opportunities.
Embracing the Unknown: The Power of Specialties
The unknown part of your business revolves around specialized services or products that the general public isn’t well aware of. These specialties solve big problems and hence can command higher prices. This is where the true value lies for your business.
For instance, a chiropractic clinic might offer a specialized service like a spinal decompression treatment package. Most people are unaware of the cost of such a package or even what it entails. This lack of knowledge allows you to set your price and also create value around this service.
Remember, the bigger the problems you solve, the more you can charge. And this rule applies to every category and every niche. They all have specialists and specialties that can address complex issues and offer more value than their general services.
In the world of business, who makes more – a generalist or a specialist? The answer, universally, is the specialist. They have specific knowledge, expertise, and skills that are not common, and they solve more significant problems. Therefore, to enhance your business and bring in more revenue, it would be wise to focus on the specialty parts of your business.
Connecting with Prospects: The Art of Conversation Control
The next crucial aspect of improving your business is how you approach and communicate with your prospects. Every interaction with a potential customer is an opportunity to make a sale and gain a loyal client. But it’s all about who controls the conversation.
If a prospect is the one asking all the questions, they are in control of the conversation, and it’s less likely that you’ll close the sale. To change this dynamic, you need to be the one directing the conversation. This means having scripts ready, learning about your potential customers, and most importantly, asking questions. You could start with simple questions like, “Can I ask a few questions before you come in?” or “Could you describe the leading cause of your pain right now?”
Being in control allows you to guide the conversation and build interest around your specialized services. Remember, when you discuss big problems in your advertisements or interactions, you demonstrate the value you provide, which can lead to big results.
One of the strategies to regain control when a prospect asks a question about costs is to say, “It’s case by case,
simply because your problem and the extent of your problem are always different. You can definitely ask that to the doctor when you get here. By the way, what times work best for you on Monday?” Such a response doesn’t just give them a satisfactory answer but also allows you to steer the conversation back to booking an appointment.
It’s crucial to remember that while providing excellent customer service is key, you don’t want to solve all the prospects’ problems over the phone. Instead, you should pique their interest enough to prompt them to take the next step – making an appointment or visiting your store. If you answer all their questions over the phone, they might feel they’ve received all they need, eliminating the need to physically visit your business.
Leveraging Pain Points: Transforming Challenges into Opportunities
Understanding and addressing your customer’s pain points is another critical strategy that can elevate your local business. For instance, you might encounter a customer who is worried about the duration of your service. They might wonder, “How can you solve my problem in just 20 minutes?” Instead of perceiving this as a problem, consider it an opportunity.
To address this, you could create an advertisement campaign highlighting how efficient and effective your services are. The message could be something along the lines of, “In just 20 minutes, we can help alleviate your pain.” This way, what was initially perceived as a shortcoming is transformed into a strength, further enhancing your business’s appeal.
In conclusion, succeeding in your local business is not just about knowing your service’s price or providing discounts. It’s about recognizing the less obvious parts of your business and leveraging them for success. This strategy involves focusing on specialized services, controlling the conversation with your prospects, and addressing customer pain points proactively.
By employing these tactics, you are likely to attract a wider audience, offer more value, and ultimately, grow your business. Remember, business, at its core, is about solving problems. The bigger the problem you can solve, the more successful your business is likely to become.
No matter what local business you run, whether it’s a chiropractic clinic, a bakery, a fitness studio, or a pet grooming salon, these principles remain the same. So, shift your focus from the known to the unknown, become a specialist, and take control of your business success today.
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