Think back 15 years ago. Coffee was a 65-cent item that came in a Styrofoam cup. It tasted like every other cup of coffee everyone else was offering and there was nothing enticing, compelling or appealing about it.
But then someone dared to ask this question: “If I could create the ultimate coffee experience, what would that look like?”
Brilliant question.
And what did that question produce?
Seductive art-deco boutiques… Americano, Cappuccino and Mocha… Baristas in place of clerks or waiters.
And a multi-billion dollar juggernaut industry was born.
Starbucks had a clear vision: make the $2-4 cup of coffee an affordable luxury. Re-invent a commodity and create an extraordinary experience.
Starbucks has successfully created a competitive compelling advantage… and in the process made their business the only logical choice for most people to purchase their morning coffee from.
So stop and think for a moment.
If you could create the ultimate FANTASY about YOUR product, service or business, what would it look like?
When you create a compelling competitive advantage that’s centered around your customer’s ultimate fantasy buying experience, your business literally becomes the middle kingdom between fantasy and reality.
Prospects will read your ads because they pander to that fantasy, and they’ll buy your product as well.
Domino’s Pizza built a billion dollar empire selling lousy tasting pizzas to hungry college kids whose ultimate fantasy was to receive fresh, hot pizza FAST!
Domino’s wasn’t going after the market segment that wanted the best pizza or the segment that wanted atmosphere – it went after the segment that demanded their pizza get to them fast. And through this simple distinction, they revolutionized the pizza industry and became The Logical Choice.
But here is the amazing part.
Domino’s used the exact same cooking equipment and exact same pizza business know-how as everybody else in their industry. Were they the innovators of pizza delivery – NO! Tons of pizzerias delivered… just not fast; therefore the pizza was often cold and the kids were restless when the pizza arrived. Domino’s claimed “Delivery in 30 minutes or less or it’s FREE!” This became their primary advantage that met the needs of their newly defined market position – the busy college kids that wanted food fast.
FedEx let it be known that they could absolutely, positively deliver your package anywhere in the world overnight.
Even dog food is getting in on the act.
Purina now makes a premium line of dog food they named “Canine Creations” and specifically targeted it at the well-to-do dog owner. Their tag line emphasizes their competitive advantage… “Chef Inspired… Dog Desired.”
Do any of these competitive advantages sound familiar?
“The milk chocolate melts in your mouth, not in your hand.”
“It helps build strong bones 12 ways.”
“Get the body you want, in half the time.”
“Discounted diamonds – unmatched quality, untouchable price, unbeatable guarantee.”
Each and every one of these has a compelling competitive advantage.
Just remember that if you can fulfill a fantasy for an exceptional value (NOT low price), who can refuse that?
Your Compelling Competitive Advantage is not a program… but instead, your business philosophy that should direct your entire future marketing and operational program.
Close
