The Power of Pain: Positioning Your Services in an Uncertain Economy

Recession, no recession? Depends on who you ask. All I know is that gas prices and the cost of groceries certainly aren't going down these days.

During economically uncertain times, it's no surprise that we as consumers (and business owners) tend to prioritize our spending. We focus first on investing in those products and services that we really need to have, rather than those we merely want to have.

Recently, I listened to this podcast episode, by Leah Neaderthal, where she acknowledges that there’s no silver bullet to getting clients (I preach the same!) but having a good "Painkiller Statement" can make it a bit easier. Let me set the stage...

Have you ever had an injury that required you to take a painkiller (or OTC pain reliever)? You probably made that a priority and didn't forget because the discomfort was so top of mind, you couldn't ignore it. You did what you needed to alleviate the pain and feel better. It was a priority!

Contrast that with knowing that you *should* take vitamins every day to improve your health. It would be nice to take them, but it's pretty easy to forget if you haven't established the habit and routine yet. The benefits are less tangible and it's really not urgent.

See where I'm going here?

It's human nature, especially in an uncertain market, to opt for products or services that address a specific pain point rather than those that are perceived as nice to have.

What does this mean for you as a business owner? You need to position your services as a pain pill rather than a vitamin! (Enter Leah's point about having a good "Painkiller Statement.")

In order to do this, you must first identify the pain points of your target market and ensure that your services address those pain points. It might mean that you need to tweak an existing package or consider a new offering.

I was chatting a business friend who is a career coach recently. She was telling me about a new offer she wants to add on for a subscription/membership for her past clients. I thought - wow, that's a great idea for those people who were still in job search mode - a place to network and find community to help support them on this journey.

But what about those people who had successfully found their new job - what's in it for them? What pain would it address? It might be feel nice for them to help others who are still job searching, but is that compelling enough for them to open up their wallets? Something to think about!

After you've ensured your offer(s) address specific pain points that people have right now, then you must communicate them effectively! Focusing on the benefits and outcomes that your services provide rather than just the features, is absolutely critical.

For example, instead of me telling you the tangible deliverables you receive from working with me, I can explain that my services remove your uncertainty and frustration with marketing in order to help you move forward. The result being that you attract your ideal clients with confidence and ease, so that you can ensure future business growth. See the difference?

We, as business owners, need to do a better job communicating the urgency of our services to potential customers by highlighting the downsides of not addressing their pain points. We do this by emphasizing the negative consequences of not using our services.

For example, if you don't hire a marketing strategist, you will continue to waste your time and energy without moving the needle forward on your marketing. The result is that you stay frustrated, stuck where you are, and you can't grow your business.

By positioning your services as a pain pill rather than a vitamin in this way, you are better positioned to attract and retain customers (especially during uncertain economic times.)

If you're frustrated by marketing, spending too much time and energy on tactics that aren't getting you the business results you really want - let's chat about it.