Hey, research companies: What's your tiebreaker?
Editor's note: This article appeared in the March 22, 2010, edition of Quirk's e-newsletter.
Every day potential clients are debating whether to choose your research firm over another, and in this depressed economy it's clients' choice as research firms clamor for new business. Unfortunately, many research clients don't know the difference between in-home interviewing and ethnography, much less the subtle differences that set your firm apart from your competition. To a research client shopping around, you all seem to have good-quality offerings and a competent staff. To stand out, you have to give potential clients a reason - other than price - that demonstrates how you can accomplish their goals like no one else can. You need answer the toughest question in the industry: Why should I choose you?
According to Joe Calloway's article "What's Your Tiebreaker? Creating a Clear Reason to Choose You Instead of Your Competition," to stand apart from the competition, you have to have a tiebreaker that gives potential clients a reason to say, "OK, that's the difference. That makes my decision." Tiebreakers usually aren't anything particularly unusual or exotic, but more often the mastery of a basic expectation. Here are some typical areas that can prove to be powerful tiebreakers:
Be the fastest. Become known for returning client calls within one hour; guaranteeing two-day delivery but always doing it in one; or responding to e-mails with lightning speed. In today's "I want it yesterday" world, being known for quick response or always being on time can be a powerful differentiator.
Be the easiest to do business with. Become the no-hassle choice. This has been listed as the No. 1 factor with B2B clients. Look at every aspect of how you interface with clients and correct anything that might make you the least bit difficult to do business with. Are your invoices clear and easily understood? Is your Web site easy to navigate? Do you empower employees to say yes to clients without always having to get approval from higher-ups?
Let the customer choose. Offer more selection and customization. Today's clients want exactly what they want, exactly how they want it. Give them what they want, not what you want to give them.
Demonstrate value. You don't have to have the lowest price, but you do have to demonstrate that you're a great deal. That's the essence of value. Never take for granted that your clients understand that you're worth what you charge. Spell it out for them. Educate them. It's not their job to see your value, it's your job to show them. All it may take is a realization of "Oh, I didn't understand before how that was saving me money" for you to lock in customer loyalty. Value can also be as simple as providing an additional deliverable the client didn't specifically request (or pay for).
Be relevant. Look beyond the immediate needs of your clients to a bigger picture view of how you can help them succeed, make their lives easier or create new opportunities for them.
Solve problems on the spot. Empower employees to make it happen. Nothing is more frustrating to clients than hearing the words, "I'll have to ask my boss" or "I'm sorry, but our policy is..." Train your team to resolve problems fairly, amicably and, whenever possible, on the spot. Effective problem resolution can win you clients for life.
The ultimate tiebreaker: consistency of performance. While it's great to hear "superstar" stories about employees who go above and beyond for clients, the most powerful tiebreaker in today's marketplace is consistency. If clients know that no matter who they deal with in your company, they will receive the same level of great service every single time, that's the most powerful differentiator there is.
Set a goal
Think about your own clients' basic expectations, then set a goal to improve your performance on one of them by 25 percent. Start there, then continue to get better. The more expectations you master, the better your chances to win the business when your potential clients ask, "Why should I choose you?"