Competition is everywhere these days. The advent of the internet and the acceleration of digital marketing have leveled the playing field, opening the door for a vast number of businesses seeking the attention and money of every potential customer. That makes the need for differentiating a business more critical than ever.
As a case in point, consider the restaurant industry. In earlier days its competitive framework was similar restaurants, so “market share” became the business objective. Then, the competitive reference expanded to include grocery stores and “share of stomach” became the objective. Today, the competitive reference includes entertainment, and consequently “share of mind” and “share of wallet” are the expanded objectives. In business today, the question can easily be asked, “Do you want to be the same or different?” Could it be “stand out or die out?”
Why is it Important to Differentiate Your Business?
Since every consumer has choices, a business must be able to define why a prospective customer should buy a product or service from them instead of another competitor. It can easily be said that standing out—differentiating your business—from another competitor is critical to success.
Robin Pisciotta said pointedly, “If you want to lead, succeed and grow in business…you’ve got to dominate the realm of relevant differentiation.” Additionally, Clay Clark noted, “When Jack Welch was the CEO of General Electric, he was able to produce record growth year after year using a few simple principles relentlessly. The system of management he used was called differentiation.”
It is important to differentiate and stand out because people have short attention spans, so you need to grab them or lose them by offering something unique or offering it in some way that is unique. Today, every competitor is just a click away, so there are fewer competitive barriers. If you don’t want to compete solely on price, it is important to identify and develop differentiators that are true, relevant and provable.
Factors that Make a Brand Stand Out
There are more than 28 million small businesses in the U. S. and many additional larger-sized businesses. So, being noticed and chosen among this mass of competition requires developing and exhibiting these qualities:
- Be original. Have features, an image and a voice that are your own.
- Understand your target audience and respond to them in both sincere and relevant ways.
- Be bold in the things that you do.
- Be consistent in all brand and differentiating
- Be visible. If your brand can’t be seen, it can’t survive.
- Offer true value.
Ways to Make Your Company Stand Out
- Focus your business on an exact target, even a narrow niche that you can serve outstandingly well.
- Address customers’ real needs or “pain points.” Solve their problems.
- Do business somewhat differently than your competitors.
- Be honest about your products and services.
- Offer products and services that are new; innovate.
- Provide exceptional customer service.
- Surprise and delight every customer.
- Communicate your differences. Get strong visibility. Keys to success are:
- Establish a strong online presence.
- Improve website SEO.
- Get on Google Maps.
- Rank more strongly on Google by using AdWords.
- Employ strong and continuous Social Media. Engage with customers consistently but don’t be annoying.
- Create brand evangelists.
Get Expert Help to Differentiate Your Brand. Really Stand Out
Get the experienced assistance you need to stand out from your competition by contacting VisionPATH Marketing. We specialize in inbound, content marketing and social media marketing. Our differentiator is strategy before tactics.