When your prospect sees your offer… MOST of them won’t take action immediately.
Just like you, me, and every other human being…
They might want to put off the decision-making for later to allow time to browse around for better deals
If you have not played your cards well, and they find a similar offering —You’ve lost the sale!
This problem is known as commoditization
And it affects almost every business selling goods or services
Let me explain…
A commodity is a product or offering whose price is public knowledge.
Think of gold, silver, crude, etc.
We can, in literal seconds, check what the current price is on Google and make purchase decisions on that basis
Similarly, “eggs” of a similar size and origin will have the same prices in the market
If you try to raise the price of your egg without introducing what I call a “differentiator”, you’ll most likely lose demand
And according to the laws of economics… You will be out of business if something isn’t done quickly.
To grab an infinite amount of sales, decimate competitors, and have the freedom to name your price, you must pass your offers through a de-commoditization process
Which is what this piece is about
When you do this, the rewards are unmatched.
For instance, you can compete with bigger players and still win
You can skyrocket any product or brand to recognition without being known, having a following, or spending a fortune on ads
Understanding De-Commoditization
De-commoditization is the strategic process of making your product or service stand out in a way that renders price comparison irrelevant. It involves creating unique value that resonates deeply with your target market. By doing this, you shift your offer from being one among many to being the only viable choice in the eyes of your customers.
Imagine for one second how powerful this is.
Being able to create your own monopoly… even if it’s for a few months before others jump on the bandwagon
You would have made a ton of money and established yourself as a key player
You would have won the heart of the market already using PB marketing
Now, not all businesses need de-commoditization.
It is relevant when you play in a competitive and sophisticated business landscape
So …
How Do You De-commoditize Your Offers?
At the heart of de-commoditization is differentiation. However, it goes beyond just being different. Your differentiation must:
- Be Meaningful: Solve a unique problem or deliver a unique benefit that matters to your audience.
- Be Defensible: Be difficult for competitors to replicate.
- Elicit Emotion: Establish a strong emotional connection with your audience.
By doing this, you can create a one-of-a-kind offering that helps you build your dream business, and in the process… Your dream life.
Here’s the part where I share the strategies for De-commoditization.
But I do love to keep things exclusive in our community — All Things Advertising And Business (ATAB)
Next Friday (3rd Jan 2025), by 1 PM EST, I will host a workshop to discuss this topic exclusively for people in our community.
Depending on when you read this, you can either join us live or watch the replay, I know both options will be fantastic and you will learn a lot
A Note of caution: ATAB is a premium and very private community… If you want to join us, please carefully read about it here. Don’t join if it’s not for you.
On the next page (The supposed sales page for the community), you’ll clearly understand what we do and even get a 7-day free trial.
This means that you can watch this workshop (and other workshops we’ve done in the past) for free and cancel afterward.
I promise that the content will blow you away!
Anyway… Enough of the talk… See you inside.
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