Mitch Free, Founder and CEO of MFG.com, recently sent a communication to the valued Suppliers within our the manufacturing marketplace...and I wanted to take a moment and share this with you.
Letter from Mitch Free...
"Machine shop owners and contract manufacturers often ask me what I would do if I were running a shop in America right now in order to grow sales and profits...
Here is one of my strategies that I wanted to take a moment to share with you:
- I would work hard to create a niche and a reputation for something. I'd ask my customers why they love my shop and what I'm better at than the other shops they use.
- I would ask them "What type of parts or work makes you think of us first?"
- I would use the feedback to create my unique selling proposition (USP) and differentiate myself from other shops. "We are better at xxxxxx" - You can't be a generalist and make a big profit.
- I would make sure all of my employees and customers understand our USP and shout it from the rooftops.
- I would make sure my website, business cards, t-shirts, brochures, etc. reinforce our USP.
- I would make sure I am at the top of all the major search engines when a potential customer is searching for what I am good at (my USP key words).
- I would make sure I get in the stream of RFQ flow for opportunities that match my USP. No one can compete with me when I am doing what I am best at doing. I am competitive and still make a nice profit when I do what I do well.
- I would make sure I am listed in the internal databases that medium and large companies use when looking for suppliers that have my unique capabilities.
- Once I acquire the customers who need the type of parts I'm really good at making, I would invest in building a relationship with them to get more and more parts to make for them."
Thanks to Mitch for sharing this with us today!
Let me know if you have any questions or would like to discuss other strategies and how MFG.com can help you execute on generating sales leads for your shop that are sourcing parts matching your unique capabilities.