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Industrial Marketing: Standing Out In The Crowd.

Product and Service Commoditization

Standing Out In The Crowd

Industrial Marketing: Is your company's product or service Standing Out In The Crowd?  The Industrial Market is highly Commoditized.  That means it is a race to the bottom where margins are “Squeezed”.  What are the strategies you can deploy today to begin preserving your margin and begin Standing Out In A Crowd, in a very crowded Industrial Market.

Podcast Transcript:

[00:01]                                     The industrial talk podcast GO-BIG in just six minutes a day. Building a legacy of success in a rapidly changing industrial market. All right, welcome to the industrial to talk podcast. So glad that you are here. Thank you very much for joining. My name is Scott MacKenzie and we're going to be talking about standing out in the crowd that is standing out in the crowd. So let's get going. Let's start talking about that.

[00:23]                                     It's continuation of the conversation or subject matter that we've been talking about over the past weeks about the commoditization of your service or product. So this is just another segment into that and a, I want to make sure that you understand you got to get ActiveCampaign as your CRM, you need that CRM. It's important for you as a company to look into that particular product as well as BombBomb. Bombbomb is a wonderful product. That is an email videoing, a product that brings out that human side. And when you communicate with your customers or prospects, it's a very powerful tool, very effective tool that's BombBomb and that is also active campaign. And then also go out to industrialtalk.com look at the Industrial Academy. Those are courses that are being taught by industry leaders. You can never have enough education that's for doggone sure, especially in the market that changes so rapidly, such as the industrial market that we find ourselves working in.

[01:27]                                     And then, uh, finally the Industrial Dojo and that is just a series of these particular Vignette, uh, podcasts that are specific to industrial sales, industrial marketing and industrial branding, industrial leadership. And once again, they're, they're there for you. This platform, this industrial talk platform is dedicated to you 100%. If you don't succeed, we don't succeed. We want you to succeed. And that is through education content and we're just going to keep on pumping it out and it's for you. So thank you very much for joining. Okay. I had an interview today with a gentleman by the name of Todd Hockenberry and he's uh, the owner of Top Line Results and we were talking specifically once again about commoditization. It is an incredible interview and Todd himself is just second to none. He is spectacular when it comes to uh, the digital marketing, branding, sales, setting up those strategies. He is phenomenal. One of the things that we did talk about, which I just, it was something that that really came out and shocked me and I, and, and this is getting back to the commoditization component. Did you know, did you know that 74% 74% of sales go it. So that 74% of sales go to the first company. That was helpful. 74%

[03:06]                                     of sales go to the companies that were helpful. So you've got to have to ask that question. The question is, is what is helpful? What is that? That definition of what is helpful and the reality is is that companies that you are looking to do business with are once again, and if I have after I got to keep on saying this a thousand times, once again are looking for help. They're looking for solutions there. They have challenges and they just want solutions. Now if you go to them and you just say, Hey, here it is and just say, this is what we've got. We're the best in the of the best. It's not going to happen because you need to constantly, and I mean through content, interact with them and and make that content available with no charge, meaning it is just for their success no matter what because you're building up that goodwill and if you're not building up that goodwill, you're not going to get that customer because they're going to go to that customer or that that vendor, that individual, that company that is providing the greatest help.

[04:19]                                     Now, once again, when we start talking about commoditization, now there are mechanical seals and then there are mechanical seals and then there are mechanical seals. And all of them are fantastic products. That's just baseline, uh, requirements. You're not going to buy a mechanical seal that is inferior. So the market itself just says, Yup. And mechanical seal, good mechanical seal, good mechanical seal, good mechanical seals. So the, the question is, the reality is how do you in that type of a market differentiate yourself, you have to provide that level of service, that level of customer service, that level of, of content and, and desire in big time in your heart that you want to help your customer succeed. Because once again, 74% of sales go to the first company. That was helpful. The, that is amazing. And, and it's, it's uh, it's an amazing statistic. So to stand out in that crowd, to stand out, that means you give not just a hundred percent can you go to 200%? I don't know if you can go to 200%, but we're going to say 200% of your effort has to be focused on the success of your company or your customer and, and their, their needs come way before your needs. And you have to constantly, constantly produce content that is helpful to them and interact with them.

[05:56]                                     That makes sense. And I'm telling you right now, it will just that alone, once again, in light of all the other stuff that I've talked about, when you're saying, hey, 100% of your time has got to be dedicated to the success of your company, a customer and prospect, it has to specially today recognize the realities of the market today and the realities of the market today require absolutely require that type of commitment. There's, there's no compromise to that. Okay? So let's, ah, let's stand out in the crowd. You need to stand out in the crowd and you need to be able to provide that content that is truly helpful, meaningful, and impactful to your customer or prospect. And I guarantee you you're going to create more sales as just a simple result of doing that. And you have to be consistent. Thank you very much for joining the industrial talk podcast. We're going to be coming back again and we're going to continue to hammer on industrial sales, marketing, branding so that you, you the industrial professional, you, the industrial company, succeed. You are changing the world. That is what this platform is all about. Thank you. Be Safe and I will be talking to you soon.

About the author, Scott

I am Scott MacKenzie, husband, father, and passionate industry educator. From humble beginnings as a lathing contractor and certified journeyman/lineman to an Undergraduate and Master’s Degree in Business Administration, I have applied every aspect of my education and training to lead and influence. I believe in serving and adding value wherever I am called.

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