SETTING YOURSELF APART

Birg

git HSRA EXECUTIVE LEADERSHIP TEA OWNER: BA STAGING & INTERIORS Anich M

SETTING YOURSELF APART FROM YOUR COMPETITION

5 WINNING STRATEGIES – GET OUT OF “LOW PRICE” JAIL

I am in the middle of a staging consultation with both the home seller and Kate, the Realtor, when Kate turns to me and says, “It is very interesting to observe the stagers’ market. Whenever BA Staging & Interiors does something different in the designs, all the other Stagers in the area try to imitate it. But the most amusing part is that they do a poor job… they just cannot get it right. LOL. That’s why we do not want to work with anyone but your company. You are the driver and are always ahead of everyone. Yes, you are not the cheapest, but you are simply the best. ”

Kate kept talking about this even after the consultation. I was floored, not just by this huge compliment, but even more so by the fact that there are Realtors and clients who see the difference between us and our competition.

Many staging companies struggle to set themselves apart from their competition, so they TRY copying the ones who are more successful and offering it for less.

This is called a “ME TOO” product/service or “KNOCK-OFF” . In essence, these knock-off companies are purely competing on imitation and the lowest price. They work intensively hard for a very small profit margin and the only way to make money is through large volume. They struggle to create a competitive advantage for which clients are willing to pay more.

Here are 5 winning strategies to be different and to set yourself apart from your competition:

1.QUALITY VS. PRICE

We all know that ME-TOO products are cheap imitations of a high-quality product. There is no such thing as cheap and high quality. So, make a decision whether you want to run a business that is a quality business or a low-price business.

2. EDUCATION ON SUBJECT MATTERS

Acquire education on subject matters, so you do not just talk the talk, but can also walk the walk.

For example, don’t just use words on your website or client communication like “We create a buyer’s lifestyle experience” , when you have never taken a single course or any education about how to create a lifestyle experience. You may offer professional color consultation services but have never taken a single class about color. Get the necessary education and own the subject matter. Your clients will hear and see the difference between your educated talk and an uneducated competitor’s choice of words and service results.

3. DOMINATE YOUR VALUE PROPOSITION

Make sure that you understand the value that you bring to your clients. What added values do you offer them that your competition is not offering, but your clients are valuing? Understand for each project who the client is and what brings additional value to them. For example, the home seller may be interested in getting an additional area staged. The Realtor may be more interested in professional photographs.

4. DEVELOP YOUR COMPANY FROM WITHIN WITH CORE VALUES & TRAINING

Be clear about your company’s core values and lead your company with them.

If your clients see that your entire team is aligned and well trained, your company image and brand identity will benefit. The way your company does anything is how you do everything! – That’s the perception and we all know perception is everything.

5. NEVER STAY STATUS-QUO

Our business environment is continuously changing. This has been even more so pronounced over the past 1.5 years. The real estate market, our clients, our supply chain, our competitors, everything, are all evolving and changing. If you want to set yourself apart from your competition you will also have to keep changing. This all starts with knowing and understanding what is changing and coming up with ideas to pivot through personal development, product offering, developing the team, adapting or changing processes, etc. There are so many aspects of a business that can or need to change to provide the best possible service and product offering to our clients. For me, the best way to incorporate this important aspect of setting my company apart from the competition is through HSRA’s Masterminds, conferences, and XL Growth Coaching. I don’t know about you, but I need a monthly energy booster through coaching, the next steps to work on, the new idea generation, and most importantly the support from others to propel my company forward to the next level and then the next and the next. I do not want to stay status-quo. Our company wants to keep converting one Realtor at the time to say, “You are our secret weapon to win the listings” , just like Kate the Realtor says. And yes, we also send listings to Kate – it is a two-way street of excellence. We are setting ourselves apart from our competition and Kate sets herself apart from her competition with our brand image, with our superior knowledge and expertise, with our superior quality, with our superior value proposition, with our innovative approach.

Now it is your turn to break free from the “low price- jail” strategy and set yourself apart from your competition.

Good luck! - Birgit