Where’s the BEEF?

A 1984 Wendy’s television commercial featured 81-year-old character actress Clara Peller as a disgruntled customer visiting a competitor’s fast-food restaurant. After seeing a small hamburger in the middle of two large buns, she screeched her famous line: “Where’s the beef?”

It became an instant catch phrase that was used whenever someone questioned the substance of an idea, product, or event. The beef represents the real meat, or value that is desired by people. Your customers might consider the same phrase that Clara Peller immortalized when they question what they are really getting for their money.

You see, customers go through a subconscious evaluation that weighs what they got over what it cost. This GOT/COST ratio determines the value they received from doing business with you. Your customers have certain expectations when they consider making a purchase. These expectations could be considered their total value package. They will engage in mental gymnastics, weighing the value of your goods, services, or their overall experience against the money you require to acquire it. The combined tangible and intangible features and benefits of the product must outweigh the value of the money in their pocket in order for a purchase to take place.

COST refers not only to the price, but also to such things as the time, difficulty, emotional effort, and other intangible risk factors that are part of the price.

The GOT side of the ratio is not just the product or service itself, but a lot of other intangibles that are important to the customer. Customers don’t just buy your goods and services; they want a solution to a problem, to alleviate some discomfort, or to satisfy a desire. The GOT characteristics can be summarized by the “BEEF”, which is an acronym for: Better, Economical, Easier, and Faster. Let’s take a closer look at each of these characteristics so you can identify the unique value you offer your customers when compared to the competition.

Better (Quality): This can include the after-sales service, craftsmanship, durability, physical attractiveness, package design, performance, or reliability. It may even refer to the degree of confidentiality, how much you educate the customer to the value of the product, or its entertainment value. Quality may be reinforced by a strong guarantee or a high resale value.

The customer ultimately determines quality, and you should understand the specific characteristics that customers use to evaluate the quality of your product. In what ways is your product or service better than the competition? What are you doing to ensure that your goods and services remain better now and in the future?

Economical (Cheaper or More): This can refer to either paying less for similar items your competition sells, or getting more for the same price. “More” can refer to accessories or premiums that come along with the purchase of an item. People are always looking for a good deal.

Easier (Convenience): Convenience means that buying from you requires less physical or emotional effort. It can also refer to compatibility, comparability, or availability. By giving greater personal attention, being more flexible, or offering easier payment terms you make it easier for the customer to take your product home.

Good customer service makes the buying experience for your customers better because you make it more convenient for them by paying closer attention to details, being friendly, or ensuring that your product is user-friendly. A similar product of your competitor could be sold in a smaller, more portable package that makes it easier and more convenient for your customers.

Faster (Service or Speed): Typically, you can charge more than the competition because you are able to deliver the product faster. Do you operate more efficiently or save the customer time? This is what differentiated Domino’s Pizza and Federal Express from their competition.

You can usually combine two or more of the BEEF elements to add much greater value to your customers. Once you determine what they really want, you can customize your products to meet your customers’ specific needs. Ultimately, the customer wants a result that makes them feel better physically, emotionally, or spiritually. If the result they desire satisfies and reinforces their values, makes them feel better, and is more valuable to them, then they’ll be willing to pay well for what you sell. The more BEEF you can deliver, the more bread (slang for money) your customer will lay on you. So, where’s your BEEF?
[I] Rik is a business instructor at NMC and Janel is a partner with BizResults, LLC (www.bizresults.org). They can be contacted at biz_results@yahoo.com.[/I]