[MIR Course] Day 1 - Purple Cow

DAY 1

Why You Want To Be a Purple Cow Company

What you’ll learn in today’s video:

How to being “Purple Cow” enables you to avoid discounting and still get more customers by changing your customer’s decision making framework.
Examples of how you can differentiate yourself in ways that would make people want to do more business with you.

Action steps

Yes, there are a lot but this is business changing work here!

• ​Pretend you have a prospect in front of you that asked “why should I do business with your company and not one of your competitors, or manage my property myself?” Make a list of all the reasons you would give this prospect.
• Take any items from the previous exercise that are not truly unique and add a twist to make them so. Things like ‘we give excellent customer service’ while possibly true, are not unique, but “we are the only company that answers every call with a live person during business hours in under 30 seconds or we pay you $10” is.
• Make a list of products / services you offer that are unique. Only put it on the list if no other competitor offers it. This could be a similar product with a twist that makes it unique. If your list is blank, you have some work to do!
• Make a list of all the ‘pain’ that you see prospects experiencing. Ex: unpaid rent, house damage, legal problems from bad contracts, etc. Now come up with ideas about how to make each of those pains go away.
• Ask your salespeople / BDM’s / property managers to answer question #1 above in writing for you. Have them email you their answers.
• Take all the information from the previous questions and pick your top 4 answers. Write them out and put them someplace on your desk or computer or wall where you’ll see them at least once a day. Ask yourself each day ‘are these the best answers we can give to this question?” If you get new ideas, write them down.
• After a few days when you feel confident you have your best ideas, pick your top 3-5 and email your top executives and salespeople with the list and ask for their input/feedback. Listen. Thank people for their feedback. Don’t be defensive or prejudge the ‘right ‘answer.
• Start to field test these points of difference. Have your salespeople/BDMs/property managers start to use them with prospects. Try to use them yourself, take some sales calls yourself. See how your ideas ‘play in the real world’. If they seem to work, consider ways you can get these points of difference out in all forms of marketing you do.