BE EXPERIENCED FOCUSED : 4th RULE FOR BUILDING THE NEW ECONOMY

In few of my interviews I have been asked to speak about entrepreneurship and give guiding tips to the budding entrepreneurs. What makes me eligible for this? Why do people come and ask me to guide them? The answer is my real-world business experience.

The experience which adds values in my business and builds trust in my customers and other entrepreneurs.

Over the period of time, the definition of “Value” has changed. We must continuously offer Value if we want loyal customers, beginning from the first stage of a customer journey till the transaction is completed.

Nowadays, when any information is just a click away, customers have never been so strong and powerful. The days are gone, when consumers used to be a part of any transaction where they had to pay for one-time value only for any product or service.

They seek continuous value added services from any brand they trust. In this blog, I will be telling you the fourth rule which will help you to be Experienced focused.

BE EXPERIENCED FOCUSED

We need to be experienced focused i.e., Be experienced focused. What it really means? Experience focused on a very simple way of approaching what kind of content and stories I’m going to tell my customers that will increase the value of my business, products and services.

Now, as a consumer as well as a business owner, we always think about what a VALUE actually is. Value of any brand is nothing but its price over experience if the price is justified with the experience I possess.

Value = Price/Experience

So, if we imagine something that has quite a high price with not much experience and there isn’t any trust, then the value diminishes. If you have something with very low price but high experience, then as you know, you have got “good value for money” and that’s what we all say.

If people start making calculations in their head all the time, then surely, we’ll have to be focused on creating and offering the best experience possible rather than the price. If you are focusing on the price only, you are not going to gain any experience, and this is the one thing that will change the term “Value for Money”. We will become more purpose driven than action driven.

VALUE MATRIX

If we look at the value matrix, the quality of all the values are rated from 1 to 5 with 1 having the lowest value to 5 having the highest value.

So, if you provide average stories or contents, you will stick in between rates of 1 to 3. The average stories revolve around commodities, the things which are generally available on a regular basis like raw materials.

Talking about products and services, they fall in the categories of stories that anybody and everybody can tell. So, everyone is going to tell the same kind of stories like all types of essential products and you will be stuck in a certain limit and you will not get any differentiation from others and your content will not remain unique.

If you want to get above all those, you will have to jump the barrier of “Apathy” which will require the investment of three things- Time, Energy and Money. When you will start doing this, the quality of your stories will change automatically. You will start to talk more about how you use the products and the services and their impact on you customers. This is what experience does.

The more you talk, the more you create engaging content and the more engaging stories, the more you will connect with the human beings. That essentially is very cool what we do.

As we all know, Marketing is all about communications. One person talking to another person through different kinds of media and channels. The stories that you tell, and their quality will directly impact those communications. You can tell the valuable stories about you, your experience, the story of success, failure, joy and much more in this incredible time. This is the best time to get them out of you and tell the entire world.

Everybody is in the same pond, each of them is having the same experience, it’s time for you to share your story and tell the people how you are unique from others. Ultimately, that’s what people are looking for, but how you demonstrate your side of the coin is the most important differentiator.

Now, how are you going to keep people engaged with your stories? I will tell you all about seeking engagement in my forthcoming blog. See you there.

So, if you are interested to know more about these strategies or seek any guidance on entrepreneurship, just click here, we’re always ready and happy to assist you.