Sep
23
By:
Jeff Fritz
9/23/2011 7:00 AM
You may have seen my interview with author and business expert Carl Moe on differentiated value and its impact on sales revenue. If we can put our value in terms of what the customer gives up by not having our DV, we can make a better selling proposition.
It got me to thinking about the broader topic of how we define uniqueness in today’s business environment. In other words, what’s the X-factor when it comes to an organization’s long-term success?
Most people think of “unique” in terms of providing a new product or service…something that nobody’s ever seen before. But seriously, how often does an idea like that come along, and can we really base our value proposition on the idea that our product is really a new invention? I don’t think so, not in today’s global market.
In my opinion, the good stuff is less about the “new-new” rather it is the combination of approaches to a problem that earns the claim “unique.” Creative problem solving in an organization includes new approaches and appropriate doses of existing approaches.
Let’s take shoes as an example. Although there are many online sites to buy shoes, the leader in this rather generic niche is Zappos. I had the pleasure of meeting the CEO in Amsterdam last week. I wonder what do they do different? They don’t have different brands. They don’t have better prices. They don’t really have a unique interface.
It’s the way Zappos does the combination of what they do that differentiates them from the rest of this cluttered field. From a delivery perspective, they were the first to offer free shipping both ways, all the time. Zappo’s customer service is remarkably responsive and each rep is empowered to make decisions on the spot. Management gurus recognized the company all the time for its collaborative and innovative spirit. In summary, Zappos does not differentiate in terms of product or service. They differentiate in terms of everything they do.
It’s time to stop trying to be the most unique product or the most innovative service in the market. That doesn’t deliver the kind of value it takes to grow and hopefully dominate in your niche. Instead, focus on becoming outstanding in combining approaches in new ways. I assure you, a “bundle” of excellence is today’s X-factor when it comes to business success.
Copyright ©2011 Jeff Fritz