Focus On Your Competitive Edge
Failing to have a competitive edge in business is literally setting your business up to flounder. One of the things you should do from the outset is ascertain your business’ competitive positioning as the majority of your marketing approach will hinge on who you are and what you have to offer.
Ask yourself this question, then be willing to delve a little deeper. Why are you in business and why should people care? Your customers need to understand this on a number of levels as they will only choose to do business with you if you can help them solve some kind of problem or make life simpler for them. Why do you do what you do?
Once you know who you are and what you can do for your customers then you need to look at how you differ from your competitors? How unique are your products or services and why should people buy from you? Without this differentiation then marketing can become a tricky issue.
Failure to compare to similar organisations will generally have you focussing on price points and these days, customers are looking for more than just another “value for money” item. Show them how valuable you are in comparison to your competitors as well as the many advantages you have to offer and you will soon find you have something worth talking about.
Is there something that you do that your competitors are not prepared to do? Knowing your uniqueness will keep you ahead of impersonators and copycats who are out to steal business ideas. Understanding your true value will allow you to present yourself authentically for the entire world to see. Specificity will work more in your favour than grand sweeping judgements any day of the week.
Consumers are getting smarter and with the rise of social media and customer service websites, you need to ensure that your brand and reputation are ironclad. It’s all part of your brand strategy – so take every opportunity to garner great feedback and comments in association with your products.
Like anything, new can become old very quickly. Therefore once you have identified your advantage then it won’t take your competitors long to try to duplicate this. You need to endeavour to remain one step ahead and constantly be able to differentiate on more than one area at any given time. A long term plan will be necessary to allow your business to penetrate the market in the best possible way.
Once your clients see how you can help them, and how your service differentiates from that of your top competitors then it will be game, set and match.