the 5 forces · 2019-05-14 · what you sell. we help our clients get in front of prospects before...
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In this report, we will cover the 5 forces that all companies compete against for your
profits. We will identify each of these forces and show you how Digital Flashpoint has
developed numerous winning strategies for our clients. We help our clients get in front
of their ideal prospects and charge premium pricing. At the end of this report, we will
provide you with an opportunity to explore in depth each of these topics and how we
defeat each of these forces. Whether you work with us or not, you will have a better
understanding of who and what is competing for your profits.
For most companies, success is tied to and measured by their profits. The basic for
formula Profit = Price - Cost
There are five forces that eat away at your companies profits. You need to ask yourself a
simple question. How to rivals cost me money? How do they reduce my profits? Rivals do
cost you money, and there's a very real way that you can beat them.
01The Five Forces Ben Turner
THE FIVE FORCES
WHAT IS WINNING FOR YOU AND YOUR COMPANY?
A STRATEGY IS YOUR WAY TO WIN
Before we get started, we need you to think about two topics that are important to your
business. The first is winning. What is winning for you and your company? For most
companies winning is tied to the companies profits. For example, you are a 4 million
dollar company, and you want to get 6 million over the next 12 to 18 months. Having a
goal that you can measure your success is critical. If you don't know where you're going,
you will never get anywhere.
What is winning for your company over the next 12 to 18 months?
You need to ask yourself, my company's strategy get me to my future goal. When I talk to
the company owners, we ask them if they have an MBA? Because I know for a fact that
almost every MBA program talks about Michael Porter, who's the godfather of strategy. A
strategy is a plan of action designed to achieve a goal. Whether your a 1 million, 10
million, or 50 million dollar company, your strategy has gotten you this far. You need to
look at your current strategy and ask yourself the question. Will my current strategy get
me to my future goal of…?
Your company will need to have answers to beat these five forces if you what success for
your company.
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HOW DOES RIVALS AFFECT YOUR PROFIT?
If a rivalry is intense, your company competes away those profits by passing it along to
buyers in the form of lower prices. If your profit equals price minus cost, lower prices
means lower profits. Or you're going to have to give away more value, and therefore
increasing your cost. If your cost goes up, profits go down. So does your strategy
effectively beat rivals? You can only lower your pice so many times and still stay in
business.
So this is how we beat rivals for our clients. We can track prospects on a daily basis in real
time, and we can identify those prospects that are actively pursuing the purchase of
what you sell. We help our clients get in front of prospects before their rivals. This allows
you to educate prospects about what your company value is.
In our video training available at the end of the is PDF, We're going to tell you about the
two things your company needs to have once a prospect is ready to buy or say yes. These
things are critical to your success with a new prospect. You need to have these two
things when someone is ready to stay yes to you as a company.
The goal of marketing for your company is not to make a claim about your company, your
goal with marketing is to foster a conclusion to help them see what they don't see, help
them understand what they don't understand so that they can make a smart buying
decision. If you're the company that's built the trust, and you're the company that's
educating them, they're going to give you the sell.
02The Five Forces Ben Turner
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There's one other thing besides having a relationship when that person's ready to say
yes, and we'll talk about that in our video training series. But in order to beat rivals, it's
simple; you have to start the conversation first, you have to develop a relationship, you
have to build trust by helping them first, okay? Because prospects don't care about you.
They care about their problem. There are only two things that are of interest to them;
they have a problem that they no longer want, or there is a result that they want but do
not have. And if you want to switch out effect, there's a change that they want but do not
have, or there is an experience they want but do not have. If you are the person that helps
them with their problem or the result, you're helping them while not telling them about
your company first and foremost; you're being customer-centric, you're helping first. At
the end of the day, that's how you build trust.
03The Five Forces Ben Turner
POWERFUL SUPPLIERS
You compete against suppliers. How do you do it? Take Google and Facebook for
example. If Google and Facebook charge higher prices or insist upon more favorable
terms, they lower what? You profits, going back to the formula, profits = price - cost. If
advertiser raises their prices, your costs goes up. If your costs go up, profits go down. If
they change the terms, they increase cost; profits go down. Do you have a solution to a
powerful supplier, specifically Google, and Facebook?
Before I tell you how we solve the problem of powerful suppliers let me tell you one. We
are not anti-Facebook or anti-Google. What we are is platform-agnostic. You should use
Google and Facebook, but you should have a solution and strategy that offsets their
power, that enables you to get what you want without having them control your profits.
Google and Facebook work off of a relevance engine. The most important thing to these
companies is the user experience. If the users don't have a relevant or good experience,
they are not going to return the platform. Google and Facebook charge based on how
relevant the ads to the user. If you rely on Google or Facebook find the people that are
looking for your services they determine terms and pricing. We help our clients to
provide recent and relevant people to target. This reduces our client's ad spend by 25 to
75%.
If you upload targeting that's highly relevant, because we're only targeting people, the
needles, not the haystack, people that are actively pursuing the outcome that you sell,
right? They're actively shopping and researching a purchase of what you sell; then you're
gonna get a higher click-through rate. And Google and Facebook work on a relevance
engine. They're going to give you a lower cost per click. And that lower cost per click is
going to result in a lower acquisition cost.
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04The Five Forces Ben Turner
DO YOU KNOW WHAT A POWERFUL BUYER IS?
The next one is powerful buyers. A powerful buyer forces prices down or demands more
value from you, thus capturing more of your profits. If they ask for lower prices, right?
Profits = price - cost, if the price has to go down, profits go down. Right? You're not getting
the premium price anymore; your profits go down.
If they ask for more value, your costs go up. Costs go up; profits go down. This is exactly
why you're not making money, so how do you offset powerful buyers?
Well, here's the first thing that we do. If we control who's in market, knowing who's in
market, we don't have limited prospects to talk to, so our pipelines are full. You see, if
you're only getting a handful of people, you're going to let them dictate terms, you're
going to let them dictate price. That's the first thing. It's like playing poker and having a
small amount of chips; you're afraid to say anything because you're afraid to lose what
little you have. If you have a small amount of leads, you're going to basically kiss up to
every single prospect because you're afraid they're going to walk. Prospects know this,
that's why they're powerful buyers. The buyer has negotiating power.
Digital Flashpoint helps our clients get in front of the prospect first while they are
researching their problem. Our clients are able to show their company's value and
establish a relevant relationship on trust and not pitch on price. Our video training series
goes to great detail on this topic.
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05The Five Forces Ben Turner
HOW DO YOU HANDLE THREAT OF NEW ENTRANTS AND ALTERNATIVES
The threat of entry. I'm sure that there are plenty of companies that are getting into your
business every day. And new companies mean new rivals. New companies means new
alternatives. Okay?
What is the entry barrier to protect your industry from newcomers? Because they add
new capacity, right? They offer extra products that compete against yours. And more and
more companies sprout up every day.
And the same thing with substitutes. Now, I can tell you in the marketing field there's
tons of alternatives, tons. You don't have to just hire me, there are all sorts of things you
could potentially do.
Now, obviously we think there is an advantage to us over all these other things, but it
goes back to what I was just saying if we're not communicating to you the value of what
we do, then how can you measure us against an alternative. I'm sure in your industry,
right, in your vertical, there are products and services that meet the same basic needs as
your company provides. And what those companies do is they rob your profits.
When you're communicating with prospects, you have to be able to help them. And at the
same times, demonstrate how your value proposition stacks up against alternative.
One of the biggest problems I see from companies is that they do not know how to
identify their value proposition. Okay? And they do not know how to express an effective
value proposition. And the value proposition you offer answers the question if I'm your
ideal prospect, why should I buy from you? The center of appeal is want, so tell me why
somebody should buy from you, and it has to be something that they want.
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06The Five Forces Ben Turner
Now, if we know that they're looking to solve a problem or if they know that they're
looking to get a result, you can't say something like, "We care about our clients." Yes,
that's appealing, but that's not something they want. If my hair is on fire and you do a
good job of getting there on time, but not very good at actually putting the hair out, well,
does it really matter that you're expeditious in arrival? That's not something I want in a
high-interest way. It's valuable, but it's certainly not going to deliver the solution to my
problem or produce the result I want, but do not have.
So if I were to sit down with you, and this is a conversation we could have when we get on
the phone, is that I'm gonna show you how to identify your value proposition, and I'm
also gonna ask you questions about the level of exclusivity. The greater the appeal, the
greater the want, meaning the more they want it.
Here's the thing; every prospect has a motivation. It's the single greatest factor in
somebody saying yes.Think of motivation as an outcome, all right? The problem,
solution to the problem. The solution that delivers the result that they don't have. Okay?
There is an outcome. You are reading this report because you wanted to be more
profitable. But ultimately, that's not why you're reading this report. Now that you've read
this report you now know that your problem isn't being more profitable, it's how do I beat
the five forces to be more profitable. And the answer is that I need a better strategy that
directly attacks the five forces.
You have a few options. You can go to our this web address and book a discovery call.
During that call, we will not talk prices because is there's nothing for sell during that call.
I need to find out if we can help you. You wouldn't trust a doctor if they just came into the
exam room and started writing a prescription without asking you any questions? Let's be
honest you would be looking for a new doctor before you take that prescription if that
doctor didn't take the time to understand what your issues are.
Go to https://digitalflashpoint.com/LearnMore
You will be able to book a time on my online calendar. You receive an email confirmation
of the time and date of our call. You will also gain access to our video training series that
will provide more detail on each of the topics that are covered in this report.
We look forward to speaking with you.