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Survey Shows Reputation, Results & References Are Differentiators
In the 2008 Key Motivators Business Survey, 93.4% of respondents report that a company’s reputation is “very important” when choosing a vendor or business partner, 65.2% cite references as “very important” and 41.5% say proof of results are “very important.” Surprisingly, while 95.3% of respondents say that proven results are “very important” or “preferred,” only 30.8% say they actually ask for proof of results. Similarly, while 99.1% say references are “very important” or “preferred,” only 66.4% say they usually ask for references. “This gap represents a huge opportunity for companies that want to distinguish themselves in competitive markets,” said Emily Porter, Principal of Porter Positioning, which conducted the survey. “It also reveals that professionals can do more to ensure success with their vendors. “Reputation, references, and results are clear ways companies can differentiate themselves from competitors,” she said. “Case studies and testimonials are powerful indicators of success that can make or break a decision when choosing a vendor. Even if these items aren’t requested, companies should proactively provide them. Case studies are particularly good, contextual multi-use vehicles, providing valuable proposal information, web content, and presentation substance.” Porter also advocates companies to strive for industry awards and recognition. “Awards for service, product excellence, and innovation reinforce the overall brand and help inform individual choices,” she noted. In fact, the survey showed that nearly half (49.8%) of respondents said award-winning customer service is “very important” and 38.8% said award-winning products and services are “very important.” When asked to rank a list of the most important elements when choosing a vendor or partner: · 46.6% say good company reputation is most important · 39.2% say proven results is most important · 7.8% say award-winning products and services are most important
For more information visit www.porterpositioning.com/survey2008.
Previously published in the August 2008 issue of HOME BUSINESS® Magazine, an international publication for the growing and dynamic home-based market. Available on newsstands, in bookstores and chain stores, and via subscriptions ($15.00 for 1 year, six issues). Visit www.homebusinessmag.com
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