The New Age Of Differentiation – Part 5: Convenience
You know, I think convenience is possibly THE most influential strategy in our New Age of Differentiation. Why? Because, when push comes to shove, convenience will over-ride all other considerations: price, quality, service… everything!
- Why else would you buy from your local corner shop, when the supermarket is invariably cheaper?
- Why else would you just let your domestic or professional or business insurances automatically renew, when you know you can get a better deal as a new customer elsewhere?
- Why else do you stick with the same historic suppliers for years, even when you’re unhappy with the service you’ve received?
Let’s be clear. Convenience isn’t about laziness, poor decision-making or lack of market intelligence. No, convenience is a conscious buying choice. It’s a recognition of finite time, and greater priorities.
To turn this into your own competitive strategy, you have to be:
- Easy to find
- Easy to understand
- Easy to buy
- Easy to set up
- Easy to use
- Easy to renew or upgrade
- Easy to exit*
* Yes, ‘Easy to exit’. You can’t create a sustainable business by locking your customers in against their wishes. Instead, it’s up to you to keep creating and proving value for your customers, so that there is clear benefit in their wanting to stay with you.
Conversely, INconvenience creates barriers and reasons to defer. We have enough of these coming from the environment around us as it is, without creating more of our own.
Now, put the word ‘Difficult’ in place of ‘Easy’ in the list above and re-consider what that looks like for your customers.
So, which are you?