Many new business owners that I talk to get so caught up in appearances. They want to seem like they have a product or service for everyone and have this mentality of scarcity. They think that if they let even a single customer get away, they’ve failed. In doing so, they tend to push away any genuine connections and end up with a very transactional business with high turnover and low customer loyalty.
I encourage entrepreneurs to do their best to avoid the temptation to focus on quantity of products or services over quality. Believe me, if you have one irresistible offering, you can sustain a business for many years – and set yourself up to grow organically and profitably.
The benefits of an irresistible offering? Imagine generating customer demand so strong that you are overbooked, sold out, or have a waiting list to work with you. That demand is the driver of your business and enables you to increase pricing and profits, hire a team, and lower marketing and customer acquisition costs. All of which fuel future growth.
So, how to be irresistible?
Solve a Problem
The best products and services are those that fill a need. That need could be as widespread as quick, convenient transportation (like Uber), or as extremely specific as a subscription box for people who own chinchillas. If you’re able to solve a real problem for your target audience, you’re on your way to making your product or service irresistible.
Consider problems you face in your own life. The best inventions and business ideas come from personal experience. What inconveniences do you encounter? How can you address them?
Every business has started with a problem that they came in to fix. What is your problem?
Improve on a Product or Service
Solving a problem doesn’t necessarily mean that you need to start from scratch. Like in my example above, Uber wasn’t the first company to offer drivers and transportation services. But, they noticed the gaps and downfalls of the taxi industry, developed a new approach, and forever altered the market.
If you’re anything like me, I’m constantly noticing ways that products or processes can be improved. Start paying attention to those ideas and find a way to fill a gap in an existing market.
Find a Niche
I tell my clients all the time – you don’t have to be the right fit for everyone, just the right fit for YOUR clients. Let’s be honest, you’re never going to please everyone. So, find a group of people and focus on serving them better than any other company in the market.
Once you identify your niche, you can spend time developing products and services that are PERFECT for them.
Delight your Customers
Have you ever eaten at a restaurant where the food was excellent but the service was terrible? Maybe you gave them one more chance thinking that they were just having an “off day”, but you had another bad experience. I’m willing to bet the next time you head out to eat, you’re choosing a new spot.
No matter how great your product is, your customer experience matters. Make it easy for them to purchase and interact with your company. Go above and beyond. Because after one (two if you’re lucky) bad experiences, I promise they’ll move on and take their business elsewhere.
Be About Something Bigger
Even if you’ve solved a problem and found the perfect audience, it may not be enough to truly make your product or service irresistible. I mean, irresistible is a strong word. You want to create a product and experience that your customers can’t stop raving about.
One of the best ways I’ve found to create that “raving fan” is to be about something bigger than your company. Be about more than profits. Maybe it’s a charitable aspect to your business. Or a mission that your customers are helping you achieve.
Tying into something bigger helps build a connection with your audience that will make them fans for life.
Invite Customers to be Part of your Story
Storytelling is crucial in communicating your company’s message to your audience. If you lead with just a list of your product’s features and benefits, there is very little to differentiate you from your competitors. However, the WAY that you share about your product or service can make a huge difference to your audience.
Think about your company as a social network. Because this is how people are used to communicating, find ways to tell your story within those channels.
Use influencer-generated content, share behind-the-scenes videos, and encourage and incentivize customers to share their own story.