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Competitive Advantage

What makes your company different? Do you know? Do your employees know? Do your customers know?

Today, I will search the internet approximately 50 times, for something I need. That’s an average day, when I’m not on a mission to buy something. If I’m actually purchasing something, that # increases exponentially. The internet provides every customer, of every business in the world, the opportunity to research their options. It allows every one to look at all of the advantages, disadvantages, positive reviews, and negative reviews that can be found.

Hundreds of websites like , , and   give customers the information that they are looking for at the touch of a button.

Do you know what they say about you? Do you know what your competitive advantages are?

If you don’t know your competitive advantages, who does? If you don’t tell your customer about the numerous things that make your company unique, who will? If you aren’t doing something different, that causes your customer to say “WOW,” which of your competitors are doing something to take that customer from you?

How are you marketing your competitive advantages to the world? How are you ensuring that every one of your employees knows what makes your company different from the other 120 competitors in the phone book?

Here are a couple of mine, that I talk about to whoever will listen:

  • Quality: Last year, less than 1/2 of 1% of our 20,000+ customer calls asked for their money back. Each time they asked, they received a 100% refund on their transaction. That screams customer service.
  • Tenure: Over 30% of our 100 person employee base have been at our company 10 years or more. We have 6 people who have been here over 30 years. What kind of work do you think we do if our employees are sticking with us that long?
  • Innovative: All of our customer records are stored digitally, which allows for instant access to every customer’s history. All of our employees have access to these transactions, which allows any person in the company to assist a customer to some extent.
  • Trust: The retention rate of our maintenance agreement customers is over 85%. In an industry where the average is 70% retention, we take a lot of pride in taking care of our customers so that they don’t want to leave us.

These are just a few of the competitive advantages that we bring to the table. Notice I didn’t say anything about the products we sell, or our prices being the lowest. Any customer, any where, can find any product that they want. They can most likely have it shipped to them. That same customer can also find a cheaper price almost anywhere, if they look for it. We don’t sell based on price or product. We sell based on the company that is backing it up.

It doesn’t hurt that we sell the highest rated products available. We just don’t tout it on our sales calls, because that’s not what makes us different.

What makes your company different? What would make the customer choose you, over your competitor, if your price is 20% higher? Do you know?

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