Outbound marketing is no longer the best use of time and resources to generate sales. Inbound marketing is the key to boosting your business, but to move toward inbound marketing, you need to stop interrupting people in your target audience and “get found” instead. You want to be a company or idea that’s so great that someone in your target audience can’t help but find you. The way to do that is to up your value proposition and truly be remarkable. Be the best at something, and you’ll find your business soars within that demographic.
Be the Best
The Internet enables you to reach a ton of people easily, but it also forces you to compete with other players in your field from everywhere - not just locally. The way to achieve market dominance is to be the best. Stand out by becoming as unique and valuable as possible to a particular segment of buyers.
In the world of global competition, you can’t stand out when you’re just average. If you’re one of a dozen players, and there’s nothing unique about what you’re offering, you’ll only see a small percentage of the potential business in your marketplace. If you can find a way to differentiate yourself, though, and make yourself unique and valuable in your niche, you can absolutely dominate your marketplace.
This happens, in part, because remarkable ideas spread quickly, while the average or mundane languishes without garnering attention.
Remarkable Ideas Spread Quickly, While Unremarkable Ideas Languish Unfound
The Internet enables remarkable ideas to spread like wildfire, while unremarkable ideas languish unfound. This means that if you’ve got a unique or desirable value proposition for your demographic, being the best will do a good portion of your marketing for you.
People love to share good ideas or great businesses. You will achieve viral success if you can differentiate your business successfully. If you don’t find a way to make yourself unique, though, you’ll languish and your business will never achieve the commercial success you’re looking for.
Think Across the Traditional Boundaries of Your Marketplace
The first way to create a unique value proposition is to think beyond the traditional boundaries of your marketplace. The iPod is a great example of the power of thinking beyond the boundaries. MP3 players existed for years before the iPod, but they never gained much traction beyond techies and early adopters. Apple decided to make an extremely simple variant of the MP3 player that would likely hold very little appeal for techies, but offered a great tool for the uninitiated to download and transfer music to it via iTunes.
By viewing their market across boundaries - beyond the techies who were the traditional market for MP3 players - Apple was able to tap the vast market of non-consuming MP3 player users - people who didn’t have the technical expertise to use a MP3 player but were thrilled with the easy-to-use offering.
Be the World’s Best at What You Do Within Your Marketplace
If you can’t step beyond the traditional boundaries of your marketplace, then you need to find a way to be the world’s best at what you do within your marketplace. There are a few ways you can do that. One is to become an indispensable resource by offering information that can’t be found elsewhere, or by offering a simple, streamlined user experience. Another is to narrow down your market, and take a leading position within a smaller niche - before your competitors can take that position.
Look at the case of a hypothetical monkey wrench manufacturer. This manufacturer has sold in California with great success, and the advent of the Web has enabled him to expand his business to Texas, California, Puerto Rico, Italy - anywhere in the world. Unfortunately, he found himself competing with other monkey wrench manufacturers from all over the world.
To narrow the field of competition, he decided to focus solely on monkey wrenches for left-handed plumbers - and as the world’s first to dive into this small niche, he quickly became the best. He then became the most successful left-handed monkey wrench manufacturer in the world. His success gave him a bigger piece of a smaller pie - or in this case, the entire pie - instead of being forced to compete with competitors around the globe.
Redefine Your Value Proposition to Be the Best
Ultimately, your success at inbound marketing is tied to your ability to be the best. If you can create a unique value proposition for your company, you’ll explode your inbound marketing potential. There are several ways you can approach this challenge, but in the end, this is the piece of the puzzle that unlocks your potential.