INTRODUCTION

For there to be a solution there first must be a problem. Many businesses fail to clearly define the problem that they are solving for their customers. Businesses are great at talking about the technical capabilities of their products and services, but people do not buy technical capabilities. People buy solutions to their real or perceived problems. When developing a product or thinking through how you want to market or launch your product, answering this one question from the perspective of your customer is critical: “What problem does this product of service solve?”.

Episode Objectives - The Why

Over the past 3 weeks we have talked about the importance of building a community around your company, brand, or your unique ideas.  A community is important because it allows you to engage with your potential customers, testing products and concepts, to build trust, and to add value. Last week we spent time talking about getting to know you customer. This week takes an more in depth look at positioning your product as the solution to your customer’s problem. You thought you just sold products and services but in reality, you sell solutions! At the end of the time together today you will have a framework to develop and position your offer as the solution to your customer’s problem.

 Key Issues - Owner Perspective:

You are in the business of selling solutions.

Your revenue growth is directly tied to your ability to meet your target customer’s needs.

The way your product is positioned can change its perceived value.

What You Need to Know - The What

Know Your Customer

https://podcast.betteryou4u.com/1-know-your-customer-james-bryant

The Elements of Value (Discussed in Episode 3)

https://media.bain.com/elements-of-value/

https://hbr.org/2016/09/the-elements-of-value

Have a clear understanding on what your customer’s needs are.

Understand what your customer values.

Position your offer as the solution to their problem.

What You Need to Do - The How

Formula for developing a compelling offer:

Compelling Offer = The right audience + The Right solution + The right time + The right price

1.    You need to sell what people what to buy.

2.    Market it to the right people at the right time

3.    Make you offer compelling.

 Speak the language on your intended customer – Cut right through the noise.

Learn to hear the wants behind the words. – Action Speaks louder than words

 Invite your customers into a story. Or Invite your customers on a journey. People buy products that solve their problems, from people that the know, like and trust. The relationship that you build along the way is an important factor in this journey. Do not simply sell our knowledge was the solution invite the customers on a journey to the solution.

Key Questions to Consider When Designing Your offer

What are you selling? Not what is the product but what solution are you selling?

Who is your ideal customer for this product?

What will cause this customer to take immediate action on this offer?

At what price point?

 Focus on Solutions!

What problem does this product solve for your customer?

What life transformation will this solution bring?

 Removing Obstacles

What obstacles are getting in the way of your customer purchasing the offer?

What are the objections?

How can you use these objections to talk about the benefits of your product?

Creating Urgency

Why should this customer buy this product now, today?

What value can you add to make this offer more compelling and time sensitive?

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