There’s a phenomenon sweeping across my community. A buzz is in the air. Trumpets are blaring. Traffic is flowing. Lines are forming. It isn’t a bird, a plane or even Superman. Amazingly, it’s the opening of the wholesale warehouse club Costco.
These two syllables, “cost-co,” are now a retail chant; a shopping mantra. They have seemingly activated the “buying” DNA stored in my neighbors and community. How come? Because the folks at Costco are smart. Really smart.
They know prospects and customers are influenced by specificity, not generality.
There’s a big difference between broad and boastful generalizations about low prices, quality merchandise, value, great service and convenience versus telling your company’s story in exacting detail.
With facts, figures, statistics, surveys and data, here’s some of the gospel from the Costco direct mail piece that arrived on our doorstep, weeks before the grand-opening:
• Costco sells more than 48,000 rotisserie chickens a day.
• Last year, Costco sold more than 50,000 carats of diamonds.
• Costco’s 1 Hour Photo Labs process more than 22 million rolls of film each year.
• Costco’s famous hot dog and soda combo meal is the same low price it was 17 years ago – $1.50. Last year, we sold more than 38 million hot dogs.
• Join the more than 39 million Costco members who save on high quality and brand-name products.
The preceding is simple, yet powerful, stuff. Each statement is what my law school professors used to call “substantive proof” or “demonstrative evidence.” Together, they pile up credibility. They stack success. They form this mountain of results. It’s persuasion in print.
Costco lets you know, when you enter, browse and buy, you aren’t alone. Whether you need jewels or junk food, you can shop (like millions before you) with confidence and peace of mind. And it’s obviously working. Costco’s 434 warehouses worldwide are pumping out $41.69 billion in sales.
Lessons for you and your business:
1. Positive facts create positive expectations.
2. Supportive statistics from the past secure sales for the future.
3. Previous customer commitments create credibility.
4. Detail and data drive desire and decisions.
5. Specificity produces profitability.
Questions to consider:
• How many customers or clients are you serving?
• How much of what did you do for whom, and by when?
• What’s the impact to your decision-makers? For example, what results were produced? Were dollars saved or dollars made? Were percentage points altered? Were changes achieved?
That’s why weight reduction centers stress statements like, “I lost 23 pounds in five weeks.” They know weight-loss means revenue gain. You too, should know your meaningful metrics. Then tell the world.
Bonus strategy: Don’t flub with a sub. A study by General Motors revealed, “When car buyers got a color other than the one they ordered and were told it was a substitute, nine out of 10 buyers refused to pay the agreed-upon price.”
Conclusion: Never use the word “substitute” with a customer. If you do, they’ll think you’re pulling a fast one and ripping them off. Better possibilities are “option,” “alternative,” “alternative preference” or “additional choice.”
Also, seek input and assurance from your customer about the change. Confirm their satisfaction. Never attempt to sneak it past them.
Jeff Blackman is a speaker, author, success coach, broadcaster and lawyer based in Illinois. His clients call him a “business-growth specialist.”
