6 REASONS TO MAKE YOUR COMPANY DIFFERENT IN YOUR BUYERS’ EYES
Competition exists for virtually every product or service.
So, why will people spend their money with your firm? How are you different from your competitors? Do those differences matter to your customers? While you may believe in what you are offering, while you may have planned carefully, while you may be certain you can deliver value to your customers, have you asked the most important question? What is it about your firm that will keep customers coming, not just once but again and again?
How well you differentiate your business is a measure of your probable success. Consider carefully the ways you will differentiate your business from the competition. Use thought and research to decide which things will make your firm stand out from the pack.
Here are the 6 question you must answer to ensure a clear and crisp differentiation:
1. What about my offering is unique?
Your product or service may be a potential differentiator. How is your product or service different, better, stronger, faster, prettier or more inventive than your competition? Will your customer value that difference enough to spend their money at your firm? Is your product or service of greater quality? Is it more exclusive? Is yours the best product or service guarantee in your field?
2. What makes it different from the field of competitors?
There are many ways to differentiate a product or service. Not all of them will be suited to your planned offering. Some may be too costly for your field of endeavor. Your objective is to differentiate your firm in ways your customers’ will believe are unique and valuable. Your objective is to stand out in ways that make your firm your customers’ best choice.
3. How will my offering get noticed in a competitive field?
Price can be a differentiator. The highest price, the lowest price, even a stable, never-changing price might set you apart. Or, it may be that your product or service always offers promotional-style pricing. Ask yourself whether price is more or less important to your prospect than, for example, quality. When making the buying decision, where is price in your prospective customers’ thought process?
4. Is my uniqueness something my prospective customers value?
Perhaps your sales staff or technical team are the most knowledgeable or best trained in your field. Perhaps your customer service is known far and wide as not just the best but also the most empowered to ensure customer satisfaction.
5. Why will prospective customers choose my offering over others?
Your prospective buyer’s perception of your industry may provide a useful differentiator. It’s imperative that you consider the unique aspects that will drive your prospective buyers’ buying decisions. Is there an emotional quality to their buying decision? Is exclusivity important? Do your customers’ think of your business category as a commodity?
6. Why would my customer become a loyal customer?
Naturally, it is necessary to look at the implications of potential differentiators. Will your customer value what makes you unique? Will possible differentiators make your firm a stand out in your field? Can you afford to implement certain differentiators? Your objective is to produce the most robust outcome while delivering your product or service in a unique way that elevates your perceived value.
When you write your business plan, take a real and honnest look at your competition. Where do they fall short? But do not forget to have a clear view on yourself : where might your firm fall short? How can you deliver your service in a unique way that best speaks to your prospect?
And to win and retain your next custimers, apply those easy rules :
Set yourself apart. Create your clear differentiator.
Address customer pain points. Indentify what tends to turn clients away in your industry.
Offer a guarantee. Take the risk away from customers. Not only do you address pain points in a unique way, you guarantee your USP.
Be specific. Specificity sells. “We make you more efficient and save you money” is a claim anyone from a barber to an high level IT consultant can make. Make your value unique.
You can give yourself an advantage right from the start if you integrate a solid USP into your initial business plan. Differentiate your company, and you will have insight into one of your main selling points.
“Hope is not a strategy and success is a reward”.
I am a High-impact leader and consultative strategic business partner who grows revenues, improves processes, and develops top-performing sales teams.