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Well… the audit says you’re not quite there yet. Your score was under 25%. Unfortunately, you have only a few traits that can position you as a “lower true cost” business.
Businesses that want to survive will need to consider incorporating elements of “lower true cost” into their offerings. Millennials, GenXers, Centennials and a lot of Boomers are interested in shopping for “lower true cost” products and services NOW. And that interest and demand will only grow in the coming years. Don’t be left in the dust.
If you’re concerned about meeting the demands of these new generations we can develop a road map for you. Write us using the form on this page and we can discuss an extended audit and a creative brief tailored to selling your “lower true cost” marketable differences.
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Not bad. Your score was between 25% and 50%. You have a few traits that can position you as a “lower true cost” provider. Of course, that depends on your market and your competition. If they are not yet doing so, ask your marketing function why they’re not at least considering communicating your marketable differences when it comes to the “lower true cost” products and services you offer. Strategically businesses that want to survive will need to consider incorporating elements of “lower true cost” in their business offerings.
Millennials, GenXers, Centennials and a lot of Boomers are interested in shopping for “lower true cost” products and services NOW. And that interest and demand will only grow in the coming years. Don’t be left in the dust.
If you’re concerned about meeting the demands of these new generations we can develop a road map for you. Write us using the form on this page and we can discuss an extended audit and a creative brief tailored to selling your “lower true cost” marketable differences.
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Congratulations! Your score was in the top 50%. You definitely have traits that can position you as a “lower true cost” provider. Of course, that depends on your market and your competition. If they are not yet doing so, ask your marketing function why they’re not at least considering communicating your marketable differences when it comes to the “lower true cost” products or services that you offer.
Millennials, GenXers, Centennials and a lot of Boomers are interested in shopping for “lower true cost” products and services NOW. And that interest and demand will only grow in the coming years. Don’t be left in the dust.
If you’re concerned about meeting the demands of these new generations we can develop a road map for you. Write us using the form on this page and we can discuss an extended audit and a creative brief tailored to selling your “lower true cost” marketable differences.
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Wow! You have a robust set of marketable differences that will be of interest to a new generation of customers right now.
Millennials, GenXers, Centennials and a lot of Boomers are interested in shopping for “lower true cost” products and services NOW. And that interest and demand will only grow in the coming years. Don’t be left in the dust.
If you’re concerned about meeting the demands of these new generations we can develop a road map for you. Write us using the form on this page and we can discuss an extended audit and a creative brief tailored to selling your “lower true cost” marketable differences.
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- Review
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Question 1 of 19
1. Question
Is the majority (more than 50%) of your revenue earned from business done within 100 miles of your physical location(s)? -
Question 2 of 19
2. Question
Do you have third-party endorsements regarding the quality of your product or service?Hint
A third-party endorsement is a solicited or unsolicited recommendation or testimonial from an entity (usually a customer or user, but preferably an independent testing organization) other than the manufacturer and seller of a product or service.
For example, customer satisfaction endorsements might come from the BBB (Better Business Bureau), Consumer Reports, online crowd-sourced reviews (like Yelp), your own customer/client testimonials, other “independent” testing and rating organizations, or “accredited” product certification bodies within specific industries.
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Question 3 of 19
3. Question
Do you have third-party endorsements that say your product or service contains no ingredients or processes that raise health concerns?Hint
A third-party endorsement is a solicited or unsolicited recommendation or testimonial from an entity (usually a customer or user, but preferably an independent testing organization) other than the manufacturer and seller of a product or service.
For example, health endorsements might come from GoodGuide, Consumer Reports, the FDA (Food and Drug Administration), the Consumer Product Safety Commission, other “independent” testing and rating organizations, or “accredited” product certification bodies within specific industries.
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Question 4 of 19
4. Question
If you are a food producer or distributor, or in the food service industry, do you have third-party endorsements that say your food is organic, GMO-free, locally grown or part of the slow food movement?Hint
A third-party endorsement is a solicited or unsolicited recommendation or testimonial from an entity (usually a customer or user, but preferably an independent testing organization) other than the manufacturer and seller of a product or service.
For example, this endorsement might come from the USDA, the Slow Food Snail of Approval, Certified Green Restaurants, Animal Welfare Approved, SPE (health through food), Heart-Check Meal Certification (American Heart Association) or other “independent” testing and rating organizations, or “accredited” product certification bodies within the food industry.
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Question 5 of 19
5. Question
Do you have third-party endorsements regarding your product’s or service’s social impact? (impact on consumers, worker safety, the community in which you operate, the communities in which your product or service is used, etc.)Hint
A third-party endorsement is a solicited or unsolicited recommendation or testimonial from an entity (usually a customer or user, but preferably an independent testing organization) other than the manufacturer and seller of a product or service.
For example, this endorsement might come from GoodGuide, OxFam, B Corp, JustMeans Insight, Crocodyl, Fair Trade USA and other “independent” testing and rating organizations, or “accredited” product certification bodies within specific industries.
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Question 6 of 19
6. Question
Do you have third-party endorsements that measure your environmental impact?Hint
A third-party endorsement is a solicited or unsolicited recommendation or testimonial from an entity (usually a customer or user, but preferably an independent testing organization) other than the manufacturer and seller of a product or service.
For example, sustainability and environmental endorsements might come from IFOAM Basic Standards (International Federation of Organic Agriculture Movements), Utz Certified, Rainforest Alliance (Shop the Frog), Fairtrade, Corporate Social Responsibility (CSR), ISEAL Alliance, trustea, other “independent” testing and rating organizations, or “accredited” product certification bodies within specific industries.
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Question 7 of 19
7. Question
Do you list ALL the ingredients that make up the contents of your product (or service) on the product label or packaging, and/or do you make that information available to your customers online or via other media?Hint
The Fair Packaging and Labeling Act is a U.S. law that applies to labels on many consumer products. It requires the label to state: the identity of the product; the name and place of business of the manufacturer, packer, or distributor; and the net quantity of contents. It’s not uncommon for service companies to open up their value streams (production processes) to let customers know what goes into the creation and delivery of their services.
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Question 8 of 19
8. Question
Does your business have a sustainability program in place?Hint
Sustainability, a quick and basic definition: the quality of not being harmful to the environment or depleting natural resources and thereby supporting long-term ecological balance.
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Question 9 of 19
9. Question
Is your business housed in a LEED certified building?Hint
LEED, or Leadership in Energy & Environmental Design, is a green building certification program that recognizes best-in-class building strategies and practices. To receive LEED certification, building projects satisfy prerequisites and earn points to achieve different levels of certification.
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Question 10 of 19
10. Question
Has your business ever done value stream analysis and/or applied LEAN techniques to eliminate waste from your production processes?Hint
Lean enterprise is a practice focused on eliminating waste from processes and thereby creating value. Of course, eliminating waste is related to resource conservation. Many lean principles can be called “green.”
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Question 11 of 19
11. Question
Is your sustainability program active and updated annually in search of continuous improvement? -
Question 12 of 19
12. Question
Do you operate in one location or multiple locations? -
Question 13 of 19
13. Question
If you’re a single-location enterprise, how long have you operated in your current metropolitan area? -
Question 14 of 19
14. Question
How is the ownership of your business structured? -
Question 15 of 19
15. Question
If you have employees, do your full-time employees outnumber your part-time employees? -
Question 16 of 19
16. Question
Do freelancers, contractors, “short-term” or “on-demand” workers count for more than 50% of your labor costs? -
Question 17 of 19
17. Question
Do you pay your full time employees a living wage?Hint
The MIT Living Wage Calculator shows a living wage rate to be $22.45/hour for a family of four (two adults and two children) for the City of St. Louis, MO in 2015. A “poverty wage” for that location is $11/hour and the minimum wage currently stands at $7.50/hour.
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Question 18 of 19
18. Question
Do you pay your part time employees at least $11/hour (or the equivalent poverty wage for your metropolitan area)?Hint
The MIT Living Wage Calculator shows a living wage rate to be $22.45/hour for a family of four (two adults and two children) for the City of St. Louis, MO in 2015. A “poverty wage” for that location is $11/hour and the minimum wage currently stands at $7.50/hour.
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Question 19 of 19
19. Question
Are your employees organized in or represented by a union?
If your Lower True Cost audit score is 50% or higher, it’s really time for you to get started with Lower True Cost Positioning and Brand Communications.
Reasons a business would consider Lower True Cost Positioning?
- It can increase your bottom line.
- It IDs usable marketable differences with your competition.
- It increases your visibility with Millennials, GenXers, Centennials and a lot of Boomers, and it connects you with their personal values.
- It most likely matters to your customers now.
- It paints your brand as forward-thinking.
