How to Market From Your CORE Competencies
Do you know what your company’s CORE competencies are?
A core competency is something your company does better than anyone else. It’s what gives your company its edge, makes you unique, and sets you apart from your competitors.
Core competencies are usually built over time and then leveraged during the sales process. If your safety equipment distributorship is the only firm in the region that offers gas leak detection services, for example, then it pays to play that up across all of your sales and marketing efforts.
When utilized effectively, these competencies can be an extremely effective marketing tool.
If you’re not maximizing these core competencies in your marketing effort, now is the time to start.
This is particularly important for those “hidden” core competencies that customers may not be aware of yet. If you don’t tell them about those competencies, your customers will go elsewhere to find them (usually to your competitors).
One of the best ways to make sure your customers or clients know about your core competencies is to develop a unique selling proposition (USP).
Share your USP with all of your past, current, and potential customers. It should be a straightforward statement that you can update regularly and share through your regular marketing avenues.
This description will also convey your company’s “uniqueness”—what sets you apart from your competitors. Having a USP and relaying it to the world via your website, advertising techniques, and marketing strategies can help position your company in the right light and let customers know what you do and why you do it best.
Here are a few questions you can ask yourself when developing your list of core competencies:
1. Why do my customers purchase goods and/or services from my business? Ask your top customers for input on this one.
2. What is it about my company that makes it stand out from the crowd?
3. Why do I get new and repeat customers?
4. What new products and/or services has my company introduced over the last year or two, and which of these were well received by customers? This will help you hone your USP to reflect your newest offerings.
5. What does my company offer that no other firm in my industry does?
For example, if you own a woodworking business that delivers within a 48-hour timeframe when the rest of the industry can barely deliver within two weeks, put the emphasis on that service.
Make sure your business description is simple and easy to understand. Don’t try to put too much “marketing speak” into it because it will just make your customer’s eyes glaze over as they try to understand the jargon.
Be clear and concise, and keep your target audience in mind as you’re writing.
Once you have your words on paper, review them with your staff and managers, and then begin using them in all of your marketing efforts.
Websites, signage, business cards, and other materials should all reflect the statement you’ve come up with. By leveraging your company’s USP in all of your marketing and advertising efforts, you’ll go a long way in helping customers understand your firm’s core competencies.
How have you expanded your market without abandoning your roots?