When you’re excited because you’ve found a product, you need to ask yourself: “Why would someone buy from my store versus someone else’s?”
People will investigate your company before they even buy: you have to know who you are.
The easiest way to figure out your company is to let it be an extension of yourself. You also have to find out what customers want. When those two paths cross, you've hit the sweet spot. That’s how you build identity.
I was looking at a website the other day, evaluating it, and helping the owner make it marketable.
A website should stand out and tell a story. The problem with this guy's site was that it said everything. When you say everything, you say nothing.
“We have the most beautiful products.”
“We have the highest quality products.”
“We have the fastest shipping.”
“We’re the friendliest company.”
“We have the greatest satisfaction guarantee.”
“We have the most credibility.”
In the end, which of these do you remember? You remember nothing.
Companies who focus on saying one thing stand out much more. You have to pick one trait or feature of your company that stands out above the rest.
For Just One Dime, that one thing is making margin to do the things you love with the people you love. It’s starting with something small and making it into something big. That is who we are, because it is an extension of what I did in my life.
Let’s take Nike for example. When you see Nike, you see the ‘swoosh’, and their tagline, “Just Do It.”
What are they saying? Be active. Do something. Don’t talk and analyze, go out and act. That’s the one thing they focus on. Does that mean their shoes are bad quality, or their shipping is slow, or they have bad customer service? No. In fact, they do very well in all of those. But they focus on one primary point. That's why you remember it. If you focus on everything, nobody remembers.
Here’s another example: TOMS. My wife loves these shoes. Why? It’s a one-for-one company. This means every time you buy a shoe, you’re investing in someone else’s life, because they put a pair of shoes on someone who needs them every time you buy. That’s amazing. While Nike’s theme is action, TOMS’s is giving back to the community.
What about Adobe? The tagline for their Creative Cloud is “Make it.” It’s all about building something. That doesn’t mean their software is bad or prices are too high: it just means the one thing they decided to focus on is all about building and making something.
What you need to do is figure out who you are and what action step you need to take. What makes your company stand out? What does it stand for?
Right now, I’m working with a business partner on a baby company. We’re thinking through how to make it stand out. We asked what new parents need.
Well, the mom usually buys the majority of the baby supplies. So maybe we’ll market specifically to moms.
What do moms need? Why would they go into a store and buy a baby product?
One thing that is important is safety: they don’t want their baby choking on something or eating something that will hurt them. Safety is important, so our products need to be safe.They should also be healthy for the baby, so there shouldn’t be any toxins or dangerous plastics in it.
Another idea is that moms think their children are adorable. Babies are so cute, you want to kiss them and smell them, because they’re innocent and new, and they represent life. Maybe we want products that enhance the adorability of your baby.
Then I thought, well, we always talk about babies being cute, but what about the other side? Moms get exhausted when they have kids. It’s exhausting to have to wake up fourteen times in the night to nurse their babies. The exhaustion of having kids is a part not often looked on. What if our theme was helping moms get the rest they need?
See where we’re going?