Almost everyone believes their company, service, or product is unique and that the business law of averages does not apply to them. At LFCG, we encounter this in almost every business relationship we engage with.
And for the company, the provider of the service or product is unique. Because they know, by default, everything worth knowing about their service or product.
However, this knowledge does not apply to its stakeholders. For them, a service is a service, and a product is a product. Who serves a need and anything else. To a stakeholder, arguing uniqueness is futile.
They will, by default, not know enough to recognize the uniqueness of your service. Alas, the law of business averages applies to you too.
Common rebuttals we encounter are;
- Our customers are here because of me
- We are the only provider of the service here
- We have the best retention rate of all our competitors
What we hear is, “I am the best there is.” No one else believes in your business model, and we are satisfied and on our way down. If your company hinges on your persona, your company is effectively one sic leave away from a catastrophe. If you are the only provider present, you are a botched season away from disasters.
If you have the best retention rate, you are the one all your competitors are gunning for. Working with your customer experience is, behind the service itself, the most profitable action you can take.
You should always aim to be the provider who keeps improving the customer experience—working on every little minute detail, which can enhance the overall experience.
If you get it right and it is appreciated, it will always pay of upping buying frequency, bettering sales on-site, and increasing customer lifetime value.