 I moved from working in my business to working on my business!
Jim White, Founder Savor Dallas http://www.savordallas.com |
 I found a community of business leaders who make being in business a lot more fun and less lonely.
Jeannine Sandstrom, CEO CoachWorks International, Inc. http://www.coachworks.com |
 I now have a place to be open about my business success and future challenges.
Debbie Mrazek, CEO The Sales Company Author The Field Guide to Sales http://www.the-sales-company.com |
Posts Tagged ‘manager’
Discover the Dos and Donts of competitive intelligence.
Collecting information about your competitors makes good business sense. However, you must do so in an ethical and reasonable way. Competitive intelligence from public sources, customers, and third parties can help businesses anticipate market opportunities, trends and competitive strengths and weaknesses.
These guidelines provide a step-by-step guide for acquiring the information you need without crossing the line.
1. Ask questions – If you come across or are offered competitive information and believe that it may be confidential or proprietary ask questions to find out how the information was obtained, or why it was made available.
2. Be ethical – How would you or your business react if you found out that your competitors were receiving the kind of information that you acquired? If you think that a particular way of gathering competitive intelligence may be unethical, you should assume that your competitors would view it the same way.
3. If it doesn’t seem right, don’t do it – If you’re ever in doubt as to whether a source of information or contemplated technique of gathering information is proper or legal, you should contact your manager or attorney.
4. Breaking the law has consequences – If you improperly gather or use competitive information, you can be disciplined or terminated, and you could face criminal and civil penalties. Breaking the law can also result in adverse publicity to your company. Think about how you’d feel if your actions were publicly disclosed on the front page of a newspaper.
5. Legitimate sources of competitive information include:
- Public sources. You may gather information about your competitors from public sources such as:
- Newspapers, magazines, other published articles and television programs
- Advertisements and brochures intended for public distribution
- Information freely available on the Internet and online research services
- Public filings made with governmental or regulatory authorities, such as SEC reports, patent filings and litigation records
- Analyst reports
- Industry surveys or reports
- Public presentations given by competitors at trade shows and conferences
- Freedom of Information Act (FOIA) and similar requests from governmental or regulatory agencies
- Conversations with customers. Talking with customers is essential. The more you know about your customers and their businesses, the better you can meet their needs. However, you shouldn’t contact customers for the purpose of obtaining confidential information about a competitor. Customers may disclose information about a competitor’s products or pricing, so long as the information is not confidential.
- Hiring third parties to obtain information. Sometimes company’s hire third parties to help us gather competitive intelligence and information about the market for products and services. Third parties are subject to the same standards of behavior that you abide by, so you should assume that if we can’t do it directly, you can’t hire someone else to do it.
- third parties conducting focus groups or interviews with a competitor’s suppliers or customers generally don’t have to identify you as their client, so long as they identify themselves and their company. While a third party doesn’t have to disclose the purpose of the focus group or interview, the third party shouldn’t intentionally misrepresent the purpose.
- A few of your competitors may have informed you that you cannot subscribe for their products and services. In these cases, you should not hire third parties to access the competitor’s products or services. However, absent knowledge that a competitor would have barred or prohibited your access, you may engage a third party to subscribe to the product or service.
- Keep in mind that your company can sometimes be legally responsible for damages or losses caused by a third party if you authorized or appear to have authorized any illegal actions. This can be the case even if you don’t issue direct instructions to the third party, but know of the third party’s likely conduct and "turn a blind eye".
- If you engage a third party to gather competitive information, you should have the third party confirm that it is aware of, and agrees to abide by, applicable laws related to competitive intelligence.
Some types of information gathering, however, can violate the law or may be considered unethical. Some examples Include:
- New Hires. What you can and can’t ask former employees of competitors.
- you shouldn’t ask or encourage employees who previously worked for a competitor to divulge confidential or proprietary information about the competitor, such as specific details about a competitor’s operations and intentions, including pricing, future plans and forecasts which may have been considered confidential or proprietary by a competitor.
- If you previously worked for a competitor, you shouldn’t disclose information about your former employer that you believe is confidential or proprietary, or bring any of this information into your office.
- However, you may discuss items of a general nature with an employee who previously worked for a competitor including anything that’s a matter of public record or that wasn’t treated by the employer as confidential.
- Misrepresenting your identity. You shouldn’t misrepresent your identity in order to obtain competitive information, if the person you’re seeking information from would not ordinarily give you the information if they knew your true identity. This can be considered fraud. For example:
- You shouldn’t contact a competitor, posing as a customer, student, private research firm or potential vendor/supplier, to find out information.
- When providing information in order to gain access to a competitor’s website, you should answer all required blanks accurately, but you don’t have to fill in blanks that are not required.
- Stealing information.
- You shouldn’t attempt to acquire a competitor’s confidential or proprietary information through illegal means, such as theft, spying or hacking.
- You shouldn’t perform any surveillance or monitoring of competitors outside of public places or engage in any form of electronic eavesdropping. However, if you’re sitting on an airplane or are at an industry conference and happen to overhear a competitor discussing a confidential matter in the row ahead of you, the competitor likely has no reasonable expectation of privacy.
- Giving gifts for confidential or proprietary information. In gathering competitive intelligence, you should not give entertainment, gifts, favors or gratuities to induce someone to provide you with information that’s confidential or proprietary. You may, however, pay third parties for competitive intelligence that’s derived from legitimate sources.
- Anonymous packages containing confidential information. If you receive anonymous submissions of competitive information you shouldn’t distribute or use the information.
- Information marked "Confidential." etc. You shouldn’t use or purchase information belonging to a competitor that is marked "confidential" or "proprietary."
- Offers to access competitors’ products and services. If you’re offered acc
ess to a competitor’s product or service by a customer, friend or other person, and you ordinarily would not be able to access the product or service on your own, you should decline the offer. - Misplaced or unattended confidential information. You shouldn’t use confidential information belonging to a competitor that is accidentally misplaced or left unattended.
- Dumpster diving. This is inappropriate and it may also be illegal.
- Competitive bid information. You shouldn’t seek or use information that you may receive about a competitor’s bid if you’re involved in bidding, especially on government contracts. However, you are free to use information that is disclosed by the government, publicly available or retrievable pursuant to a FOIA or other similar request.
- Information offered in business pitches. If a customer offers competitive information to us during a business pitch, we should understand that the customer may owe a confidentiality obligation to our competitors who are also pitching for the business. As such, we should generally decline to receive information under these circumstances. However, if we are being told something very general or high-level, it may be appropriate for us to use this information in our bid and in our larger business strategy.
Regardless of what method you use to collect competitive intelligence, if you have any question as to the legality of your activity, err on the side of caution and chose another method!
Most people answer this question with an immediate "YES", until they actually sit down and try to write a script. It appears easy to write a script… when you first think about it. However, when it comes down to developing the actual strategy, positioning, subtleties, interaction, closing, and formatting (not to mention the objections and rebuttals), the ease of scriptwriting turns more complex than first anticipated.
Here are some things to ask yourself before you definitively answer the question: Can I write a telemarketing script?
- Do you have the marketing "know-how" to keep people on the phone from the outset of the call?
Do you know how to incorporate "interaction" into the script so that it doesn’t sound forced and prospects will provide an honest response? And will this interaction lead them to a "yes"? - Can you "close" the prospect with such subtlety that they know they’re buying a product or service (or setting up an appointment) and yet you haven’t broken the flow of the call?
- Can you format the script so that it reads easily (hyperlinks, correct succession of Presentation, Explanations, QTC, etc) and flow is not broken?
- Do you know how to position your product or service so that prospects see it differently from all similar products and services?
These are only a few of the questions to ask yourself before trying to write your own script. There are many others, but if you answered yes to at least 3 of these, you’re on your way to a great script.
After you have decided that you can write a telemarketing script you need to put yourself in the mindset of your customer and focus on their needs not your product. Your product will come naturally after they believe that you can solve their problem. The most important thing out of the gate it to get their attention so that you can release the distraction, or anger or whatever they might feel when you call. I have been calling on CEO’s for a couple of months because of some partnership deals I am working on for a client and right from the beginning I stress that we are looking for a mutually beneficial relationship. I have had not one hang-up or angry "who are you?". They have all said "tell me more about what you mean" or "what exactly do you mean."
I then educate them on how I think we can help each other do what we do best and be more successful while making higher profits at the same time. If you are calling on a customer it is the same way. Instead of saying, "I am mike selling car wash equipment." you would say something like "How would you like to wash your car once a month and have it look showroom clean the whole month?" That gives you a way in to give more information about how your product is going to fulfill their need.
They may ask "how that would work", or "are you kidding"…anything that gives you an opportunity to get a step closer to allowing them to buy your product is what you want. I was in a business group that we go to each month where a a sales guy in the group said he started saying, "This is a sales call do you want to hang up?" At first we all laughed, but then he started talking about having a very high success rate. Why it may sound crazy it is another way to snap the person out of their daze long enough to listen. He would always follow that up with fulfilling their need. How would you like to make more money next week or whatever that may be. Below I have provided a simple telemarketing script to show you how it works.
This is an example of Cold Calling For Partnership
Gate Keeper
Hello ABC Company, Lynn Speaking
Yes my name is Jim Wilson President of Jim Wilson Enterprises, I was wondering who I would speak to in your company about your products, services, and partnership opportunities.
Hmmm. What type of business are you again?
Lynn, we specialize in software control systems for ABC. I believe our products would enhance your product offering and increase your profit.
You Know I think the best person to speak to would be our CEO his name is Big Bob. Let me put your call through. He may be out of the office.
Thank you so much Lynn for your time. I appreciate your help, have a wonderful afternoon.
CEO
This is Bob
Good Afternoon Bob my name is Jim Wilson President of Wilson Enterprises. Lynn thought I should speak to you about how my products may enhance your service offering and increase your profits.
So what does your company do exactly?
Bob we specialize in software control systems for ABC that your product directly connects to.
Well we are in the hardware business, we don’t do software.
That is correct Bob, but there are companies out their that make millions of dollars connecting to your system. Wouldn’t you like to have part of that money in your pocket for not much more work.
Hmmm. well how do you fit into that picture.
Well Bob, we have been in the software business for a long time and want to continue to specialize in what we do. We believe that being successful requires focus and finding partners that do the parts of our business that we don’t love. We love what we do but don’t love what you are great at. From our research you already have a very successful sales team and support staff. They are considered world class in our industry. We are considered world class in the control systems we develop but are heavily leveraged with engineers. This causes us to waste valuable research and implementation time calling on the same customers that you call on for different products that connect together. Imagine how much money can be made when you control the hardware and software of a system.
You know, what you are saying makes a little sense. You want to focus on software and R&D which is your expertise. We currently are researching ways to grow as well and how to utilize or sales and support staff more.
The benefit we get by working together is being able to both do what we are good at while at the same time decreasing our turnaround times and sales cycles. This will allow both of us to increase our profits and utilize our resources better. We will also be able to act faster than our competition who has to manage two full companies. I know of one of your competitors looking to build an enterprise system like I am talking about right now.
Let me get some time on my schedule so we can meet and discus the possible revenue from a partnership. We are in the acquisition process right now to grow our business. Are you only looking for partnerships or acquisition as well?
We are looking for a mutually beneficial relationship with a company that has the same values that we do and eye for success. We are always open to all discussions. I will work with your assistant to schedule a date.
Ok, look forward to speaking with you in person.
The main idea is to get in person for this example. When you meet you want to be to the point, have all of your facts together, including the numbers you expect the partnership to generate. Always talk about partnership and mutually beneficial and mean it. Never come from only I need this or I only care about this. It will put people off and ruin a quick in that you got from your call. Please remember that in small business you have a chance to get the CEO or president much easier than you do in Fortune 500. You may have several gatekeepers in Fortune 500. Remember to be nice and respectful of each one you meet whether
they are a manager or an admin.
Written By Work911
The responsive manager tends to succeed by building bonds of respect and trust with those around him/her. Staff respond positively to responsive managers; they work more diligently, work to help the manager and the organization succeed, and will go the extra mile when necessary. That is because responsive managers act consistent with the principle that their jobs are to help their staff do their jobs. So, a basic inter-dependence emerges based on behaviors that show concern, respect and trust.
Responsive managers also influence those above them in the hierarchy. Because responsive managers have the ability to read and act upon the needs of their “bosses”, they are perceived as helpful and reliable, or in a simple way, very useful. This allows them to get the “ear” of people above them in the system, and further helps get things done when needed.
Contrast this with the limited influence of the Unresponsive manager. The unresponsive manager is restricted in influence because those around him/her do not respect or trust them to look out for their welfare. Influence is more limited to the use of power coming from the formal position, and fear, a motivational component that is hard to sustain over time. Unresponsive managers tend to be perceived as self-interested, or at best uninterested in the needs of those around them. They also tend to be perceived by those above them as less reliable and less useful due to their focus on empire building, organization protection, and self-interest, rather than getting done what needs to be done.
2 Key traits of a Responsive Manager
- Able to put aside personal concerns to listen to those around them. As a result, they know what is going on, and know what is both said, and said between the lines. They have the knack of appearing to know what people need even if those needs are not expressed directly.
- Acts upon knowledge, attempting to help fulfil the needs of employees, superiors, etc. Responsive managers wield influence to solve problems for those around them, often before even being asked.
Example:
An employee had been working for a government branch for about a year, having moved to the city as a new resident. In a casual conversation, the supervisor noted that the employee wasn’t looking his or her best, and asked how he\she was feeling. The employee explained that he\she hadn’t been feeling well lately, and sounded very tired and overwhelmed. The supervisor determined that the staff member didn’t have a local family doctor, asked if he\she would like the Human Resources supervisor to help arrange an appointment, and then proceeded to do so immediately. The problem turned out to be a minor one.
In this example the supervisor was able to identify that the staff member was in need of some help, despite the fact that the staff member did not state this explicitly. Note that the supervisor didn’t pressure the staff member to go to the doctor, but identified needs, checked them out, and then acted upon them. In this case, help consisted of direct, helpful action.
2 Questions to Always Consider as a Manager
1. If you are a manager or supervisor, how can you modify your own behaviors so that you become and are perceived as more responsive by
- your staff
- your boss
- your customers
2. What is your definition of a “responsive employee”? Can you identify your “favorite employees”, and how they are responsive to you?
When was the last time one of your employees told you he or she had an effective performance review? While this may be a rhetorical question, it’s a valid one given today’s volatile business climate and the need to receive consistent feedback on performance.
Today, a direct manager’s or supervisor’s review of an employee may, indeed, not be enough to adequately provide the employee with enough information. One of the trends occurring in business is the “skip-level” review. Also known as “360-degree feedback,” employees are reviewed by their manager or direct report’s manager, employee peers and even subordinates.
There are many benefits to this process. For the individual, perception is reality and the skip-level process helps workers understand how others perceive them. While many may tell each other day-in, day-out how they feel, getting these thoughts on paper in a stylized, confidential process is a completely different matter. The individual also benefits because feedback is essential for learning, and individuals can better manage their own performance and careers.
Maintaining a skip-level review also benefits the “team” by increasing communications among and between team members, and supports the teamwork process by involving everyone in developing the appraisal methodology. Organizations, too, benefit by promoting better career development for employees, improving customer service by having customers contribute to evaluations, and directing the training process.
A national human resources consulting firm quantified the reasons for skip-level reviews. According to a recent survey, HR managers said that 360-degree feedback is being used for management and organizational development (58 percent), performance appraisal (25 percent), supporting strategic implementation and culture change (20 percent), and team development (19 percent).
Naturally, there are a variety of methods to gather data by using paper-based forms, diskettes or other storage, through an electronic network or by interviews. Scoring can be conducted on-site or through central scoring by an external vendor.
One, burning question is the frequency of the review – how often should the review be conducted? While annual performance appraisals usually suffice, skip-level reviews may be done more often. Since employees need time to make the changes proposed on the last set of reviews – and because it takes some time for others to perceive that change has taken place – six-month intervals make sense. This time frame allows people to create change, and then get feedback on their progress so that they can develop next-level goals and action plans. However, some organizations prefer to conduct surveys of just 10 to 15 questions, focusing on a specific topic. These smaller-size reviews are done monthly in conjunction with training on that certain topic.
Next comes the matter of whom should be the reviewer(s). The method in which organizations set the criteria for this important step could make or break the review depending on a variety of circumstances. For example, the length of time the respondent knows the subject is important, as is the amount of contact. You also may want to choose reviewers who understand what the subject does, as well as some who work well with the subject and some who do not.
After the review is conducted, the subject is the only person who gets a copy of the report. The manager gets group and organizational data, but no individual information. While giving the data could increase accountability and enable the manager to quantifiably track progress, there are a variety of pitfalls to giving the manager a copy of the report. Here are a few examples:
- People will fear the process.
- Feedback comments will not be as constructive.
- Scores may be higher.
- Data can become a weapon, not a development tool.
- The manager may lack the ability to interpret the data appropriately.
- The manager may reprimand the employee for not doing well.
Another consideration in skip-level reviews is whether feedback should be linked to performance appraisals. While skip-level reviews or 360-degree feedback and performance appraisals can be complementary, they should not be linked. If 360 is linked to compensation decisions, it loses its power as a development tool. With compensation as the outcome, individuals quickly will learn how to play the game, a.k.a., “I’ll scratch your back if you scratch mine.”
If ratings are lower than expected, morale can decrease when the review is linked to performance appraisal. However, when low scores are used purely for development, the scores tend to be viewed as constructive feedback. Be sure that team members are coached on the rating scale so feedback is consistent across the board.
Introducing skip-level reviews to a potentially resistant organization isn’t insurmountable. First, start at the top and conduct a pilot. Directly address, up front, the issues that are at the source of the resistance, and focus on the benefits for the individual or group. When possible, use an external consultant to minimize fears of confidentiality and inappropriate data usage.
Are skip-level reviews ever inappropriate? In some cases, yes. For example, if the person receiving feedback is too new to the group or organization, there probably aren’t enough respondents who truly understand the full scope of the individual’s responsibilities. In addition, during a time of major change like a merger or acquisition, skip-level review may not be very effective because the staff is focused on other, more important, efforts. An environment with a high degree of mistrust is a red flag that also would inhibit the process.
Skip-level reviews or 360-degree feedback can be a cost-effective, measurable method to the appraisal process.
Mindmapping is not a new concept. I believe I first came into contact with it as a freshman in college. It’s a diagram used to represent words, ideas, tasks or other items linked to and arranged radial around a central key word or idea. It is used to generate, visualize, structure and classify ideas, and as an aid in study, organization, problem solving, decision making, and writing.
Mind mapping can really help you dump your mind out on paper and organize it as you go. If you organize it in one way and would like to rework it, no problem, you just move this string and add another one. It’s super easy, takes no instruction, and if you think in a connected or circular way, it will be extremely easy to use.
I have some clients who work best in this way and we pass mind maps back and forth as we brainstorm. I can put my information in it and then they can ask me questions and we can fly back and forth very quickly moving toward our goal.
If you think it might help to get your jumbled thoughts out of your head, your hunch is probably right. Why not download the software I use and take it for a complimentary test spin? Download FreeMind now.
There are other packages out there, too. I have another client that recommended Mind Manager (and this site has a tour you can take), plus there’s a free trial.
I can’t speak for these other packages, though here are some others to choose from – Visual Mind, Open Mind and Nova Mind (definitely the coolest looking package I’ve seen and haven’t sampled).
When you differentiate, make sure it’s hard to copy!
I have to tell you that I was really dazzled by Hampton Inn’s new image. It was several years ago now, but the image and design of all of their hotel branding was just too cool and fun. When you walked in, they had a rug that was split into two pieces – two rugs basically – and the first one said “welcome” and the second one said “we love that you are here” or something like that.
Those rugs were what caught my attention. Then we received our room key and the key card holder had a guarantee printed on it with a very direct, explicit outline of a money-back guarantee. Talk about bold risk reversal! On the inside of the holder, our key had a small black and white photo with a road sign and below, the words said “welcome to Texas.” At the time, we were staying in Austin for the weekend. Accompanying the key card was a complimentary in-room wireless access code. When other hotels are charging from $10 to $20 bucks for that alone, that’s just one of Hampton Inn’s value adds.
The black and white photo theme is what really pulled in my heart. My love of clean design and practical marketing that really works ate up this branding – big time! When we got in the elevator, I was delighted to see the same branding images. Imagine a black and white photo of two donkeys walking down a road sitting next to a band of sage green with reversed out white text that read “road warriors.” I knew I was hooked.
The problem I’ve always had with a lot of branding is that it is big hat and no cattle. The branding can be beautiful and stunning (like this branding was), but without substance (that means that you have a good product or service and it does what you say it is going to do), the branding is worthless. It’s like putting lipstick on a pig. It’s still swine!
When we got to the room, I was on the lookout for more cool branding pieces. Now, I had an expectation, and I’m so glad to report that I wasn’t disappointed! From the little ‘do not disturb’ sign that reads ‘recharging’ and has a photo of a guy with headphones on, to the toiletries, there were plenty of items to take in.
The product, which, in this case, was a hotel room had much to write home about. Everything is just a cut above the other similarly-priced hotels (anywhere from $89 to $129 in most markets). One of my favorite upper mid-line hotels is Westin. Westin is wonderful because of the linens and the quality of the pillows, and the excellent service. Hampton Inn combined a great bed (I’ve got scoliosis and Mark has a herniated disk, so with these backs comfy beds reign supreme), wonderful linens, microwave and frig in the room. I found out on this last trip that Hampton Inn now has the Hilton-level beds and linens and the whole ensemble can be purchased at http://www.hamptonhomecollection.com/comingsoon.htm. This is a great example of how offline companies are integrating their customer experience with different products, other companies, and new ways of marketing. You can do this too!
Were we happy? You betcha. It was one of the first times in a long time that I stayed in a hotel and didn’t wake up feeling like I had been run over by a Mack truck. The branding made it just that much more fun, and guess what? It worked. We now look for a Hampton Inn when we travel, and it’s fun to see what photos will appear in different cities and states. Each hotel has a photo that is geographically specific and represents the appeal of the location area.
Hampton Inn clearly knows what its primary target wants. Business people is the hotel chain’s target. Families traveling could be on the list too, and the manager at a Hampton Inn in Quincy, Florida revealed that he was beginning to work with that market. Both target markets are also served by the hotel’s free full-service breakfasts. For us, that saves a minimum of $20 and an extra hour each morning. We love it because when we are on vacation, it allows us to get moving and on to what we went to visit in the first place!
When you combine the savings for breakfast and the free internet connection, the $10 or so more that Hampton costs is not a big deal. Same with business travelers. If you are an employer, per diem is per diem, but what if you do actual receipts and your people stay in a place where breakfast is free? It’s a win-win-win, right?
So what does all of this have to do with YOU and your differentiation? It has to do with choosing things that are difficult to copy. True differentiation is nearly impossible to copy. Think the Disney experience and Apple. They are in a league of their own.
Here are five things you can consider to really pull out the differentiation at your company!
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Invest in cutting-edge technology or innovations your clients really want. If you have a proprietary program your company has created, that’s even better. With our Hampton Inn example, they were one of the first to offer the 100% guarantee, and now those are popping up all over the place in that price range. Sure, other hotels offer a continental breakfast, but to offer a buffet, that requires an investment – and a commitment. Investing in things you think would be cool, but your best clients could care less about is a waste of money – keep those clients in mind and if you aren’t sure, ask them!
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Let the “you” shine through! In professional services, especially, this is a great differentiation strategy. If you are edgy, fun-spirited professionals – let that work to your advantage. If you are passionate about a certain pet project, go where those people are and connect to other just like you. The more that you create marketing that speaks to who you are, the more you will attract those people already looking for you.
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Align differentiation with values. Once you know what your highest values are – what you really believe in – then look around and see what is great out in the world and then put your unique spin on it. For example, I’ve had the fortunate experience to meet and work with many amazing professionals who I would call “entrepreneurial accountants” – Glenn Baldwin and Bonnie Houldsworth are two of the best. Setting themselves apart from the competition isn’t difficult because they truly are not like the competition – they are business people and entrepreneurs first and accountants second. The combo is out of this world and super hard to copy!
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Take stock of what you have. It’s so easy to look around and know what you don’t have. Take a look around and see what you do have that is exactly what your clients are asking for. Sometimes it is a certain type of specialization, sometimes it’s the way you work with clients, sometimes it’s just the work philosophy you bring to the table. To make differentiation work for you, you must use it. Put it out there. Just like the Hampton Inn guarantee – they may have had it all along, but when they put it front and center, it becomes much more powerful.
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Allow your clients tell you. It’s so easy to go into the toe tapping “aw shucks” when clients begin to spew accolades. When clients share with you what is amazing about you, be sure to take it in fully and make a note of it. Chances are that those same things are what others are loving about you too. When you know what those things are, ask yourself: How can we strengthen these? How can we do more of this? How can we continue doing this?
When it comes to differentiation, it’s important to choose things that set you are apart, and are difficult to copy. The combination of these two together is the leg-up in the minds of your customers.
Radisson (our #2 mid-line choice) is great, but Hampton Inn is what has captured our needs and how we feel about ourselves. We identify with Hampton Inn because of the branding, the excellent – usually quirky, fun employees – and the consistent product we really appreciate and love.
Is it likely another hotel chain will copy their branding? Probably not. It’s funky. It’s not really ‘out there,’ but it’s out there enough to ward off the ‘me-tooers’ and the copycats. This is an excellent example of really serving a target market and being okay with letting others slide by – own your target market sliver is what I always say!
So when you are thinking about creating differentiation or choosing your differentiation, think of Hampton Inn and think – what would someone else not want to copy? In the hotel biz, if one hotel gives out ‘free’ items the guest has forgotten, that’s easy enough to copy. Need a map of the city? No problem. Want a Sleep Number bed (a Radisson offering)? Whoa, that’s going to require an investment – will other hotels go to that expense? Probably not – or not easily. What can you do in your industry that is similar?
Even better, what can you spotlight that is ‘business as usual’ for your company and would make your competitor squirm and your client squeal with delight? Figure that out, and you’ve got your differentiation!