Why Your Product Is Not the Key to the Success of Your Business

If you look at the past one hundred years of marketing communications, one thing will become crystal clear: there’s been a shift of power.

In the sixties, the power was with the advertiser. They decided what was on TV and whatever was shown on TV automatically received some type of quality stamp: “As seen on TV”. But then, everything changed.

The Internet and many other technological advances came into our lives. Out of a sudden, we (as consumers) were the ones who decided what we were watching, sharing, liking and buying.

So what has changed?

Back in the sixties, the product was at the center of any type of advertising. Which made sense; that’s what you were selling, right?

But today, you’re selling much, much more.

Today, we sell experiences, emotions, feelings and magic – we sell stories. These things are why we watch, share, like and buy things. These things are what set you apart from your competitors.

The problem, however, is that we, as business owners and marketers, tend to forget this sometimes. We focus on the product and the product only.

We say: “our product is so fantastic, it can do this, and that and this and that” and we go on to mention a ton of features and product specifications.

But people don’t care about those specifications.

Rather than saying what your product is and does, talk about what it brings people. How is it valuable in their life? How will their life be better through the use of your product or service?

This is especially true for businesses that sell a product or service of which the quality is subjective. Food, beverages or hospitality brands are great examples of this.

If the quality of a product is difficult to measure or if the product is similar to its competitors, then the only true way to differentiate yourself is by focusing on the story you’re telling and the magic you’re selling.

Sometimes the key to success is not to keep on improving the overall quality of your product, but to enhance the complete experience that your customers have with your brand.

 

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