The Ultimate Differentiator.
Let's beat your competitors together.
Executive Vice President, Jim Costello, recently joined the team here at Incentive Solutions, and he brings decades of incentive experience with him. Jim has built and managed successful incentive programs for numerous Fortune 500 companies. He knows that a well designed incentive program, with the right rewards, and the right tech mix can be the difference between you and your competitors. Here he explains his differentiator model, which is a surefire method for outshining your opponents in the marketplace. Call Jim today and let's beat your competitors together.
Jim Costello - The Differentiator Model
We use a differentiation model developed at Harvard Business School by Theodore Levitt. You can find it in his book, Marketing Imagination, chapter four, Differentiation of Anything. We applied this model to our incentive marketing business and will bring it to you and your business to help build a sustainable competitive advantage.
Let’s presume you are a manufacturer that moves its goods through an independent channel of distribution.
To even be in your business that are fundamental elements that are required, like employees, offices, factories, distribution channels, and IT infrastructure. In the model, this level is called the Generic Product, which includes your brand. At this point you and your competitors are identical.
To win sales battles and move your product through your channel, you must meet and exceed the expectations of that person you rely on most for success. It could be a distributor, distributor sales rep, dealer, dealer sales rep, or even the end user. This stage of the model is called the Expected Product. Most of America’s marketing battles are fought in this space. Tactics seen include sales spiffs, contests, discounts, rebates, and more, which inevitably reduces margins. And if successful, provide you only with temporary brand preference. you've got to ask yourself:
- What are you doing now to meet and exceed expectations?
- What are your competitors doing?
We invest our time and intellectual capital not only at this stage, but at the next and most important level of the model, the Augmented Product. We work with you to develop a technology platform and incentive value proposition that not just meets and exceeds, but changes expectations. We do an end run around your competitor’s activities and provide you a two year head start with an enticing and engaging incentive platform, not seen before in your channel, for those you rely on for success.
By the time it occurs to your competitors that something different is going on, and they research, design, implement and manage a response that gains traction it will be two year hence. By that time we will have worked with you to further develop your augmented incentive platform and enable you to maintain your sustainable competitive advantage.
Thank you for taking this time today. I am Jim Costello with Incentive Solutions. We are eager to be of service!
How far ahead of your competitors do you want your incentive program to take you?
When you differentiate yourself from your competitors with an incentive program, your customers, employees, and channel partners take notice and engage more in your objectives. Some of our clients have used our programs as a differentiator to the tune of over 300% ROI. Check out these case studies: