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I posted this in several FB groups and no one seems to see the amazing power behind this. So Internet don’t let me down now! The whole space of digital marketing is on a huge pivot point. So if you’re a White Labeled Digital Marketing or Digital marketing reseller. Listen up because I’m laying it all out for you below!
So I can just open a White Labeled Digital Marketing Agency and sell other people’s services as my own! Nice I know a few business that I could reach out to see if they need a new website or marketing services! SEO, Lead Gen!
The possibilities are endless!!!
And Here’s why…
You have your “larger than life influencers” that are branded and differentiated from the competition on one side. You also have your low cost operators that build website for pennys and run marketing campaigns for “exposure.” (Old joke but I’m going for them being cheap…)
They get customers either because their either a local business with great rapport or they’re actually good marketers.
The amount of value they bring to the table sets them apart as they know the hard work needed to get & keep customers happy. The newer marketers only see the content they put out and not the hours behind the scenes that has set up the channels and make people want to hear from Neil or Gary.
When markets are flooded with “Low Cost” options the businesses that have a higher level of differentiation will enjoy most of the profits.
The opposite is also true, when most are priced higher without much difference between the products the lowest cost option will be the best option.
The is the problem, if you find yourself in a market with some businesses are higher priced than you but make up for it with greater benefits than you offer.
While others still are lower priced than you, that are similar enough to be accepted and succeed.
You’re in the middle and a shift most happen.
Without either a Price or Differentiation strategy you will find it very hard to compete sustainably with your competition.
This is something that really changed how I see the marketplace for digital and traditional marketing. Those that see this fact and do it right have great positioning for the next new social behemoth. Those that can’t see this are doomed to repeat the past of so many businesses.
Trying to find a consistently and profitable way of getting and retaining customers. Below is how we at TMV get customers. Making a service more available to businesses is like a product getting into more retail stores. Be on every street corner.
Based on Michael Porter’s study on business competition. Here is my take and it really helped me.
Branding, features, ease & benefits = Differentiation.
Low cost & different pricing strategies = Price.
That is what service makes your business the most profitable revenue.
Research your competition for more than just keywords they rank for. Find out what product are their breadwinners and if it makes sense double down on the services that you are better at but they don’t promote as much.
These will be your “profitable loss leaders” products that get people in the door.
Cost strategies don’t always have to be “lower your prices.” Once you understand you don’t have to hit a home run on every pitch to win a ball game. You can increase your chances at bat and get on base more. Ask your customers what they want and create packages that your customer really wants. Make them feel proud they have the “Platinum Package.”
I want to be the first today to say, I believe in you and this really is an option. Stars put their pants every morning the same way we do. You can even be like me, rather be seen but not heard. But when you step up to the microphone say something people will never forget, or just be the realest person in the room. Connect and be transparent, people will love you.
People now want to feel good about who they’re doing business with, that’s why people donate per product. (Besides them being good people of course.)
Have you ever heard someone say, I’d probably switch companies but I get XYZ from them and would have to replace it. First don’t try to lock your customers in because you’d be a jerk and they won’t like you. Also I will come be a nice guy and come steal your customers… jk
Offer them something they would be crazy to lose, be a nice person and make your customer’s life better.
The Big Guys at Marketing are Faster, Stronger and have more Money to compete with. This isn’t a losing battle but for the sake of your money and livelihood! Wake Up and smell the coffee! IT’S TIME TO WN!!
P.S. the first time I heard a talk like this it blew me away, but not enough to change my business model. 1 year later I see the need, but I don’t need to tell you the extra I could have made if I committed to changing sooner.