To be in business, you must be selling a product or service in exchange for monetary value. That is the definition of business paraphrased.
Overtime, you may have heard, or even said so yourself that “business is not moving”. So many factors could lead to such poor return on business investments – poor communication, no competitive edge over other market share-holders, poor positioning, poor packaging, etc.
Some entrepreneurs take time and invest money to do the necessary analysis that will help them find and thrash the root causes hindering their business progress while some others may seat back and blame their ‘village people’ for witch hunting their business(es)… Thank God you are one of the wise few who choose to take responsibility for their business growth and make it work against all odds – recession or no recession.
And because the CEO Memoirs column of the blog is dedicated to helping you get the most return on your investments (ROI), we got an international Business Coach to share with us the secrets to his business success. His name is Zubi O’Peters, International Business Coach, Transformational Keynote Speaker and Chief Executive at Authority Growth. Today, he shares with us what you may be selling wrong that is hindering your business growth and huge Return On Investments.
Sit back, read, learn, apply and please share any questions or thought you may have in the comments box below.
CEO Memoir: What Are You Really Selling? – Zubi O’Peters
When I started my advisory business, I had a major challenge:
No clients. No customers buying my products and programs. Nobody giving me money for my expertise – I was BROKE!
6 months, 1 year, 2 years, business had become an unproductive grind – nothing seemed to be working. I was at the verge of seeking an alternative to my business until…
I started encountering transformational realizations; my business began to pick up as I practiced these transforming ideas, and I want to share one of the most important ones with you here. If you understand, embrace and practice it, it will put your business on a path to stunning growth and profits.
PEOPLE DON’T BUY PRODUCTS AND SERVICES
My clients, students and anyone that has followed me for a reasonable length of time know that I repeat this almost as a broken record, and this is because you almost never digest this idea the first time you encounter it. You may mentally agree with it, but it takes a reasonable effort of discipline to give it its place in your business… I’ll say it again:
“People are not interested in buying products and services”
The understanding of this singular idea and ethically exploiting it can put you miles ahead of your competitors and make you favorable to your prospects.
People don’t buy cars, clothes, phones, laptops, coaching, trainings, inverters or whatever product or service you want to name – trying to sell any of these will make your marketing much harder work than it should be.
What do people buy then? You may ask…
People buy solution to problems, good feelings, experiences, peace of mind, advantages, image, prestige, status, class, admiration by others, comfort, convenience, etc.! The mistake we make as business people is that we have been selling the wrong things. So a good question to answer would be; “What are you really selling?”
Are you selling what your customers want to buy?
For example, ladies don’t buy shoes because the shoes are beautiful (they may think that’s the reason they’re buying the shoes, but) at a deeper level, they buy the shoes because of how beautiful the shoes will make them look, or the attention it will get for them, or the image it will create for them.
People buy things because of a hidden non-physical benefit.
There’s always a hidden non-physical benefit
The key then is, to speak the language of the hidden benefit of your ideal clients or customers. Once you do this well, you’re certain to convert a higher number to do business with you.
An example I like to convey this is:
If you sell cars for example, and someone walks into your showroom and wants to buy a Lamborghini, that person is not trying to save money on fuel, that person is not buying mobility, that person is not even buying comfort… That person is buying PRESTIGE, a Grand IMAGE, an unusual CLASS…
So if you talk about how much fuel it saves; you’ll be losing that customer, but if you talk about the authoritative sound of the engine, and how all the heads will tilt towards him when he arrives at any event, you will be speaking his buying language.
This is extremely important in your marketing. Knowing what your customers and clients are buying can transform your whole marketing.
When you figure out what they’re buying, you put it in your marketing campaign, you put it on your website, it is what your sales people talk about, it is what your sales copy raves about, it is the core idea your marketing message is built around, because it is what they’re interested in.
As a Business Coach and Transformational Keynote Speaker, I never really talk about coaching, consulting, and training to my prospects, rather I talk about how they can attract a ton of clients to their businesses, more easily, and increase profits, so that they can have peace of mind and the financial freedom to do what they really want.
For people I want to take on as long term coaching and consulting clients, I talk about walking with them to reach their goals – goals which I already know, which they’ve told me – not coaching!
Another question to ask yourself and answer is:
“What are my clients and customers trying to accomplish by doing business with me?”
If you’re just starting out and haven’t got any clients yet, the question to ask is:
“If my clients or customers were to pay for what I’m selling, what would they be trying to accomplish? What is the outcome they would be looking for?”
You may ask, “What should you do if you don’t know the hidden benefit your customer is looking for?” And my answer is this – BECOME A DETECTIVE!
Ask them – interview them, ask them “WHY”…….. A LOT!
For instance, someone registered for one of my trainings, I asked her WHY she was coming to the seminar, and she said to gain more marketing insights, so I asked her WHY she wanted to gain more marketing insights, she said to be able to get more clients.
You see, it’s not the seminar she’s after – the seminar is just the delivery mechanism, what she’s really interested in is getting more clients.
I could have gone further to ask her why she needs more clients. I’ve asked these WHY questions so many times to a deep level that I stumble into amazing marketing realizations.
So in summary, here are 3 questions to ask and answer:
- What am I really selling?
- What are my clients and customers trying to accomplish by doing business with me?
I hope you reap as much benefits as I have from answering these questions and making the necessary adjustments to my business.
Thank you so much Zubi! I’m really grateful and honored you made out time from your busy schedule to share your CEO Memoir with us.
Zubi O’Peters is a Transformational Keynote Speaker, Executive Coach, Marketing Consultant, Corporate Trainer, and a Trusted Advisor to High profile Individuals & Organizations.
He is the Chief Executive and Strategist at Authority Growth Co. An Info Marketing business in Lagos, specialized in the areas of Business Growth, Sales, Marketing and Optimization. He has given more than 250 talks and trainings to Business Owners, Entrepreneurs, Thought Leaders, Executives, Youths and Organizations.
It is my earnest desire that at least 80% of all who read these CEO Memoirs are challenged and take a step to improve on or start their own businesses, with 100% ROI and that our workplace professionals are also inspired to excel better in their workplaces.
You can catch up on all other CEO Memoirs from different top Executives HERE.
Don’t hesitate to share your thoughts/questions in the comments box.
Wishing y’all a productive Midweek.
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