The market does not reward you for having the best products or services. It rewards you for solving problems.
How many entrepreneurs or startup founders have you met who proudly say:
Oh! my product is better. We just rolled out a new feature, it’s 10X faster, 10X cheaper, and on and on.
The market doesn’t care.
You see businesses coming out with ads that just show features or at most some benefits that say: “Hello! We exist, our prices are the best, so buy from us”.
And almost every property & insurance agent say the same things – in an effort to appear the best, without putting in the least effort to come out with compelling reasons of how they can help solve problems.
(Original meme from SGAG)
I’m not saying that products aren’t important.
In fact, you should build good products and provide excellent services.
But you’ll be compensated based on how you build value around your products/services – as a solution to the pain & fears of your customers.
Think about it. We don’t always but the ‘best’ products. We buy products or services that solve our problems:
- Is the computer you’re using right now, the ‘best’?
- The shampoo in your bathroom. Is it the best?
- The food you ate today at home. Probably not the best.
But it solves our current problems. It satisfies us – for now.
We think we want the best products and services – but we actually want to solve our problems. It’s just that we sometimes perceive the best products will solve our problems better.
If you don’t feel good enough.
You’re not the only one who feels that way.
When I first started helping businesses with digital marketing, I often go into meetings with the mindset of trying to prove to clients that I’m the ‘best’ SEO marketer, the best at running ads, the ‘best’ digital marketer.
Because clients want to work with the best marketing agency and vendors, right?
While that is true to an extent, the truth is clients don’t pay you because you’re the best. They pay you because you solve their problems.
A purchase happens when your client perceives the value of what you’re selling outweighs the price you’re asking for.
I solve marketing problems.
And the tools I use (SEO, paid advertising, social media, etc) is just something I happen to use.
Try this exercise this week. Instead of trying to be the best, be the best problem-solver for your clients and customers.
What problems do you solve? And is it a big problem you solve?
And in Digital Marketing 360, I help businesses grow with growth marketing. It probably isn’t the best–most–complete digital marketing course on the planet, but I’ve seen it help businesses.