Do any of these brands stick out anymore?
I was in Los Angeles earlier this week to do the Adam Corolla Show. Of course, I had to rent a car to make my way around town, and once again, as it always is these days, the entire car rental experience was unimpressive. To put it mildly.
The rental companies seem to have stopped caring about their value proposition.
The value proposition is, basically, how much value in goods or services a customer is going to get in exchange for their payment.
How much bang for my buck will you give me?
Which translates to: Why should I deal with your company, instead of your competitor?
Like I said, the rental companies seem to have sucked the value from every part of the experience they provide:
Traveling is inherently stressful enough. A car is supposed to give you freedom. The last thing you need is to feel like it’s another ball and chain.
And since you go through all of this seemingly no matter which company you rent a car from, no company stands out.
No rental company uses the value proposition to differentiate itself. So there’s no brand loyalty.
When you buy a collectible from Steiner Sports, there are a few things you can take for granted. We take care of a few possible headaches:
These are controllable aspects of our products where we can offer real value. Value that differentiates us from our competitors.
I can’t understand why at least one of the car rental companies doesn’t look at their business that way.
Take a little less profit on each customer, but make every customer’s rental experience a little smoother, a little less of a chore.
The customers will flock to that brand in droves. And once that brand loyalty is established, enough revenue will come pouring in, that you won’t worry about the per-customer margin.
It’s a market that’s just begging for one company to step up!
What about your company? Where can you sweeten your value proposition? Where can you earn brand loyalty? Are you taking care of those areas?
Buy my new book, You Gotta Have Balls, here.
Did you know that the most successful people in the world never come up with an idea first? That’s because the most successful people do the best job of improving an already existing product or service.