How do you persuade customers to use your services over those of other–often larger–competitors? How do you underscore in a vivid, compelling way the advantages you bring to the party so that customers ultimately choose you? Here is how one entrepreneur solved that problem.
Nail Your Difference
John P. started his own mortgage brokerage, and needed a clincher metaphor, or analogy, to explain why buyers are better off using a broker like him, rather than a bank, or other lender for their mortgage. The problem he faced was that to most people a mortgage is a mortgage and all mortgage sources look the same.
His Story
“On my website, I wanted to generate enough curiosity for a prospect to inquire further about my company. In conversation, I wanted to reinforce my explanations with a strong ‘bottom-line’ metaphor to again entice prospects to want to know more and to see me as unique value.”
First, John had to clearly identify for himself the advantages of getting a mortgage through a broker rather than going through a banker. In his view, those included: brokers’ rates and fees are so much lower; brokers are unbiased, so are often a lot more trustworthy than individual institutions; and brokers, without biases for any single product, make hundreds of lenders and banks compete for a customer’s business, to get the best deal for their clients.”
“But,” as he said, “Then, I was missing that one metaphor or analogy to memorably and persuasively wrap up this list of advantages.”
How He Got to the Best Metaphor
“My first attempt at a closing metaphor was to say, ‘Bottom-line, brokers are like a ‘trusted mechanic,’ but I felt that wasn’t strong enough, because if prospects hadn’t had experiences with good and bad mechanics, the analogy wouldn’t resonate in any meaningful way.”
“Then, I thought to use more of a story, which equated to, ‘Getting a mortgage is like signing up for a cell phone: many consumers have witnessed exemplary customer service from a cellular sales rep to get their business, but after they sign the two-year contract, the sales rep is nowhere to be found, and the price on the phone they bought last week is now $300 less a week later. And then when they get the bill, it’s more than what they were told to expect by the sales rep. Similarly, banks and lenders are notorious for price gouging consumers and veterans, bait and switching them in the end, and after they get your loan application in the beginning, they simply hand it off to an underpaid and overworked processor.”
This analogy was better because it included things that often go wrong in cell phone purchasing experiences, but it was a bit involved, too harsh sounding, and, most important, if someone hadn’t had a bad cell phone sign-up experience, it wouldn’t resonate either.
Then, He hit on it!
Once he realized “…that the essence of what I was saying wasn’t about who can you trust, but more about appearances, i.e., what looks the same isn’t necessarily the same and that the wrong choice could hurt you, it was easy to come up with the right metaphor, which became…”
“These other sources are frequently like plastic fruits: they look good, but, if, by mistake, you think they are real, when you bite into them, i.e., work with them, you are likely in for a very disappointing, unpleasant, and possibly costly surprise. Bottom Line, to avoid financial surprises when you need a mortgage–use a broker.”
“Unlike my earlier attempts, this was a more relatable metaphor, since most everyone has seen how plastic fruit, either in a bowl or on a refrigerator magnet, can look very real, and everyone can easily imagine the unpleasant consequence of biting into that plastic or metal.”
“That short, simple analogy does two things. First it usually makes prospects pause, and then they ask me for more information, and, second, it begins to position me and my services in a more favorable competitive light, which sets the stage for new business.
4 Steps to Your “Bottom-Line” Metaphor
- First, be very clear in your own mind about the advantages you and your business offer
- Second, isolate the exact “Bottom-line” reason a prospect would choose you over your competition. (It may take some false starts until you get to your best “Bottom-line” reason)
- Third, ask yourself, “To what can I compare this difference that would resonate best with my prospects?
- Fourth, wordsmith that comparison to create the most concise and compelling “Bottom-line” metaphor to entice prospects to want to work with you.
Then, enjoy the results.
Anne Miller
Make What You Say Pay! – with Metaphors
Drunk Driving, Jazz, & Corn Flakes: Bottom-Line Metaphors in the News
Underscoring a danger “Refusing to wear a mask is no more a ‘personal choice’ than is drinking all evening and then stumbling into your car and heading down the road. In a time of plague, shunning a face-mask is like driving drunk, putting everyone in your path in danger.” NIcholas Kristoff.The New York Times.7/2/20.
Capturing a Concept “Jazz as a metaphor for Democracy. In our music the objective is to maintain your self-interest, but to understand that the momentum of the group is in your best self-interest. So, it would be like if we were actually challenged to make life easier for our neighbors and for people who are not like us, like the drummer’s job is to play with the bass player–not to say: ‘Well, I play the loudest. Let me figure out how to play over this bass player.” Wynton Marsalis. The New York Times. 6/28/20.
Expressing the Unimaginable [On General Electric selling its lighting business to Savant Systems, Inc., a home automation company] “…But in the annals of American corporate culture where G.E. and the light bulb have long been synonymous, the uncoupling struck some as a pivotal moment, as if Kellogg had jettisoned its corn flakes or Ford had stopped making cars.” Michael Levenson. The New York Times. 5/29/20.
If you like these Metaphor Minutes, please share with friends, clients, & colleagues. Thank you!