Most companies have a description of services, a list of product features, a company history, or an about page on their website, but not every company has a point of view. Companies with a point of view promote core values, they have a personality, and they evangelize a greater purpose than simply what they sell. What is this new product, who is it for, and why can’t your customer live without it?
We live in a world where we are constantly being sold to, your buyers included. Having a superior product or even the only one of its kind is not enough. In the sea of companies and products vying for our attention and our business, we often gravitate toward the brands that have differentiated themselves by expressing a strong point of view.
Concert Genetics is a great example of a healthcare technology company with a powerful POV. Precision medicine refers to disease treatment and prevention which takes into account the unique genetic makeup of each patient. It is an incredibly exciting frontier in healthcare. Genetics is extraordinarily complex to begin with but, with over 65,000 different tests in existence and on average 10 new tests entering the market daily, the rapid rate of growth in the genetic testing market makes it impossible for clinicians to keep up with best available testing options and equally impossible for payers to have an informed view of what tests they should authorize. Disconnected tracking systems across test selection, ordering, billing and payment further muddle the data and risk compromising patient care.
The Concert team is made up of industry experts who have watched the genetics industry grow and have experienced these issues firsthand. Their unique point of view starts with their name. A “concert” is a collection of different contributors joining together to create something that would not be possible on their own. That idea is central to Concert’s mission: to provide tools that connect, unify and simplify the world of genetic testing. They have created a platform that empowers all stakeholders – from hospitals and clinicians to health plans and regulators – to work together to fully realize the promise of precision medicine. Concert’s vantage point in the market has given them a unique opportunity to identify the problem, convene all stakeholders, provide a solution, and point them all toward a greater purpose. That’s what a strong point of view does: it leverages a unique perspective on the problem facing the market, and then facilitates a clear path to the solution in a way that surprises and delights.
If you can establish a point of view that puts you in relationship with your customer on a foundational level, you have the opportunity to win their business forever. Here are some tips for establishing a strong point of view:
1. Explain the problem, then solve it.
Frame the problem in a way that will resonate with your customer, and set your company up as the answer. If you can speak their language and show them you understand their pain, you will have their ear. Then, tell them a story about how your company will solve that problem. A powerful point of view should trigger an “aha” moment that takes people on a journey from what they know and have accepted, to believing in something new that can transform their world.
2. Be simple, direct, and relatable.
The language you use matters! A point of view needs to reach people on an emotional level and business lingo is not going to inspire, nor will your extensive vocabulary. Powerful points of view sound like the way people talk. If you can trigger an emotional response, they will remember you.
3. Talk about why you’re different.
No one wins their category by defining themselves as better than their competition. Being better starts the conversation with a negative and forces your identity to become entangled with your competitor, immediately setting your limits for growth. Presenting yourself as different gives you the opportunity to stand on your own, start a new conversation, and opt-out of the lines of comparison.
4. Write it down, distribute, and train.
A powerful point of view does not live in your CEO’s head. It needs to be written down. Wrestle over the words you choose, and then, when it has been approved by all key stakeholders, share it. A point of view will not have an impact if it sits on a shelf and collects dust. It must be woven through every business decision and marketing campaign. Build excitement around it with your staff and make it a part of your company’s culture. Evangelize it to the community and your customers. It will be the pulse of your company. When a company has a powerful point of view, everything it does will seem inevitable.
Point of view is essentially storytelling. It has been scientifically proven to increase our ability to connect, understand, and recall information, as opposed to stated facts. How will your brand tell a story that will change the way your customer views the world? How will you inspire them on a deeper level and create an emotional connection with them? When you figure that out, you will have established a point of view and taken significant steps toward winning buyer trust.
We are big fans of the work of the folks at Play Bigger and recommend that anyone interested in creating a distinct impression in the market read their book. Their ideas on point of view inspired this post. If you’re interested in learning more about point of view or category creation, check out the blog posts linked in the sidebar.
And finally, if you are at all interested in or familiar with the world of Genetics be sure to explore Concert’s world. We are excited to watch as their story continues to unfold.