How to Sell a Product That's the Same as Everyone Else's

0:00How would you advertise screws and fasteners? It's a commodity product. Can't even see it once it's installed. Lots of good high-quality product, difficult to stand out. Really, really good question, man. So, um there are two kind of strategies that you can employ to decommoditize a commoditized product. Um one is we have to think about all the other facets of the product. So, if you think about a car, a car gets you from point A to point B, but there's still tons of differentiation within cars.

0:27Now, there's luxury vehicles, there's status. I'm not to say the same thing with fasteners because people don't see it, and it's probably more of a utility. That being said, you have service quality, you have speed of delivery, um you have what percentage meets qualifications, so that's kind of a quality metric. Um and so, we have to look at the other variables, like the actual purchasing process. So, think about swallowing up the entirety of the customer experience, and think what happens before, during, and after someone makes a purchase from me. How can I make that as easy and seamless as possible? So, sometimes it's expanding the scope so that you can have differentiators that are outside of the core product that still, in a very real way, deliver value. And so, it's basically getting out of the micro of this local transaction, and thinking about the macro of the business or customer that's buying it. Right? So, if we can frame the purchase from you as a, even though it's locally more expensive, it is globally cheaper to purchase from you and that they get it faster, they have fewer mistakes, etc., then you can have a commodity product that becomes decommoditized through the additional kind of layers of service and value that you provide around it. That's thing one.

1:26The other thing is just the brand um associated with it, right? Which is, what are the associations and pairings that we do on an active basis so that people, like for example, the reason that sometimes these types of businesses are relationship-driven is that the person that they'd rather buy from, they like that salesperson, so that person's reputation and brand kind of confers over to the product. And so, we have to think what kind of brand um allows us to charge a premium for what is otherwise considered a commodity. And so, those are the two elements of basically increasing the premium, the brand itself, right? And the associated elements of the offer or product or deliverable. And so, those are the levers that you have at your disposal.

2:05The brand will take time. The other ones you can do more immediately. And in thinking and reframing the sale from local, short-term to global, long-term or the holistic view of the business and the customer experience. If you like this video and you're business owner who wants to break through your current revenue ceiling, I distilled every lesson from scaling 10 businesses past 10 million and three businesses past 100 million into a completely free scaling road map that I've used to go from zero to one, zero to 10, and zero to 100 plus. And so, you can click here and you can check it out. Again, absolutely free. And since you're business owner, I appreciate you and enjoy.