3.5 Ways to Differentiate Your Products & Sell More · 3.5 Ways to Differentiate Your Products &...

3.5 Ways to Differentiate Your Products & Sell More

Presented by:

Christopher DiCensoGeorge Harris

Growth Strategy Partners LLC

781.837.3276

June 11, 2014

1www.GrowthStrategyPartners.com our business is growing yours ™


Today’s Goals & Agenda

Goal:

� Provide you with at least 2 tools or techniques to help you differentiate your products

� Motivate you to take action

Agenda:

� Why differentiation matters

� How products can be differentiated

� Defining how to differentiate your products

� Substantiating your differentiation

� Promoting your differentiation


Your Presenters

� 25+ years in industry and consulting

� Sturm Ruger 1986

� 10 years in industry: auto, medical, textile, computer

� 15 + years consulting: Deloitte, Grant Thornton, PricewaterhouseCoopers, Inc. Magazine

� Skills: Strategy, sales, leadership development, operational improvements, mfg, warehousing, engineering, construction, shooting

� BS ME, MBA

� IDPA, USPSA, 3 Gun competitor

� 40+ years of industry and military experience

� Co-founder of Sigarms Academy and Pro Shop

� Developed and trained internal and external sales and training associates

� Internationally recognized firearms trainer

� Writer for numerous publications

� Subject matter expert on firearms

� US Army Distinguished badges for rifle and pistol

� Skills: product development and marketing, customer service training, firearms training, govt. contracting requirements

Christopher DiCenso George Harris


Overview of Growth Strategy Partners

Research

Tools

Consultants

Effective Growth Planning

Right Seats with Right People

Advanced Customer Management

Robust Processes

Differentiated Products and Services

Strong Core Values

Ability to Execute

Why We Can Help You Grow Faster and More Efficiently:

� We’ve conducted extensive research to identify the 7 Keys to Growth

� We’ve developed rapid implementation methodologies and best practice tools

� Our consultants are previous Presidents, CEOs, business owners and accomplished advisors

A research based growth strategy consulting firm helping entrepreneurially minded organizations grow their revenues, profit and talent faster and more efficiently


Key Points

Differentiation Makes Money….

Without Customer Input You’re

Shooting Blanks

Quantify Why You Are Unique

If You Have It, Promote It!


He Who Executes Best Wins….


Product Differentiation Is . . .

The process of distinguishing the differences of a product or offering from

others, to make it more attractive to a particular market.*

* source: J Barney


The Differentiation Development Process

Owner

Design

Mfg

Promotion

Concept

Design

Mfg

Promotion

Customerinput

Customer Segmentation


Why Is Differentiation Important?

Revenues

Competition

Placement

Profitability

Cross Selling

Productivity

Ease of Selling

Branding


Who Defines the Differentiation?


Product Differentiation Characteristics

• Function

• Features

• Durability

• Reliability

• Accuracy

• Quality

• Modularity

• Feel

• Materials used

• Maintenance

• Appearance

• Safety

• Price

• Value

• Brand

• Made in USA

• Service/support

• Finish


Hey, Let’s Ask the Customer!

Who?Existing customers

Prospective customers

Customer segments???

What?

How?

What influences what you buy?

Which companies come to mind when you think of X?

Survey monkey

AR-15.com

Other websites

Concept

Design

Mfg

Promotion

Customer

input

Customer

Segmentation


Sample Survey Results

Modern Sporting Rifle Report

NSSF 2010


How Do Our Products Rate?

Comparison of 5.56/.223 AR-15 Base Models

Based on a score of 1 to 10 with 10 = highest

Manufacturer Accuracy Reliability Reputation Quality Price Features Appearance Durability Value Score

Your Company 9 8 8 7 8 9 9 8 7

Armalite 8 8 6 7 7 7 7 8 7

Bravo Company 7 8 6 7 7 7 8 8 7

Colt 8 8 9 9 6 8 8 8 6

Delton 7 7 7 7 8 6 7 7 6

DoubleStar 7 8 6 8 8 6 7 7 6

DPMS 8 7 7 7 7 7 7 7 7

LaRue 9 9 8 9 7 8 9 8 9

LMT 9 8 8 8 7 8 8 8 8

LWRC 9 9 7 9 6 8 8 9 7

Remington 8 7 8 8 7 7 7 7 8

Rock River 7 7 7 7 7 7 7 7 8

Sig Sauer 8 8 8 8 6 8 8 8 7

Smith & Wesson 8 7 8 7 8 6 7 7 7

Stag 7 7 7 7 7 7 7 7 7

Sturm Ruger 7 8 8 7 6 7 8 7 7


3 Laws of Marketing Physics

1. Overt Benefit• Low overt benefit 13%

• Medium overt benefit 26%

• High overt benefit 38%

2. Real Reason to Believe• Low reason to believe 18%

• Medium reason to believe 29%

• High reason to believe 42%

3. Dramatic Difference• Low dramatic difference 15%

• Medium dramatic difference 40%

• High dramatic difference 53%

* % = odds of success based on stated benefits

• Lightest

• Doesn’t need lube

• Easier to maintain

• Independent research study

• Used by FBI, DEA, etc.

• Gun of the Year award

• 27% more accurate

• Used by 3X # of agencies

• Sold more than top 3

Source: Doug Hall


What’s The Benefit?

1. Cold hammer forged barrels

2. Adjustable stock

3. Fluted barrel

4. Dual output flashlight

5. Dry lubricant

6. Green vs. red laser

7. Pure copper bullets

1. Durable, last longer

2. Adjust length of pull

3. Lighter weight, cools quicker

4. Searching and reading options

5. Doesn’t attract dirt

6. More distinguishable

7. Greater accuracy

Feature Benefits


Hey, Let’s Tell Them Our Differentiation!


AR Differentiation


Translating Features to Benefits

Heat dissipationIncreased rigidityNatural lubricant

Corrosion resistantEnhanced accuracy

Added ergonomics

Source: POF catalog


Summary

� Many companies don’t differentiate their products well

� Product differentiation improves

• Revenue generation

• Profitability

• Ease of selling

• Many, many more reasons…..

� 3.5 Ways to Differentiate Your Products

1. Obtain Customer input

2. Quantify Your Differentiation

3. Promote Your Differentiation

3.5 Have inventory

He Who Executes The Best Wins


Your Next Steps

1. Commit

2. Evaluate your differentiation and challenges

3. Identify areas for improvement

4. Identify the few changes you can make now

5. Identify where you need help and go get it

The worst thing you can do is nothing!


How We Can Help

� Phone discussion

� Independent assessments

� New Product Development processes

� Obtaining customer input

� Designing surveys

We can get you results faster than you can on your own.


How to Reach Us

Christopher DiCenso

781.837.3276

[email protected]

George Harris

603.642.7291

[email protected]

Growth Strategy Partners LLC

www.GrowthStrategyPartners.com

3.5 Ways to Differentiate Your Products & Sell More · 3.5 Ways to Differentiate Your Products &...

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