So, you’re in the business of standing out?
In a world where being different means survival (getting funding, attracting customers, increasing revenue) having a distinct point of differentiation is one of the most critical things you can do for your company.
Today’s market competition is fierce. It’s difficult to stand out.
But it’s not impossible!
The truth is, as businesses like yours compete against each other, effective differentiation is one of the most difficult problems you’ll confront. Especially if you aren’t the first business in your area. How can you set your business apart from the other companies who sell the same product as you?
Let’s Find Out.
#1 Find out your unique point of difference
Identifying your point of difference or USP can help equip your business with a compelling value proposition. This will set you apart from rivals that aren’t as well-versed.
The key to developing your distinctiveness, or unique selling proposition (USP), is to discover what your ideal customer truly desires and to ensure that you give it better than anybody else.
Following the Blue Ocean Strategy ensures that the products and services you offer cannot be bought anywhere else. This is the best advantage you may have over your competition and can help you quickly attract new consumers.
One of my favourite Business USPs is HelloFresh’s, “Take the stress out of mealtime: America’s Most Popular Meal Kit” tag line.
It’s clear, it’s bold, it’s mouthwatering (I know I’m not the only one). It induces FOMO, but it also serves as social proof.
What makes your business stand out? How are you capturing uncontested market space? Why Should We Choose You?
#2 Compelling Product & Brand Marketing
Reaching a broad audience has become easier thanks to the current digital era. You have the ability to connect with clients all around the world in only a few clicks.
However, it is critical that you also communicate successfully with them.
A significant element of this is optimizing your website to enhance web traffic and extend your brand’s online visibility. This should be backed up by an active social media presence, relevant collaborations, email marketing, web advertising, and event promotions.
Let’s think Sneakers, Apparel, Word Of Foot Advertising.
Nike. A sneaker business that became the world’s largest sports footwear and apparel company. They’re one of the top brands in the world. How?
The way they’ve sold their brand! Great marketing, using both classic and novel approaches, a fantastic design and motto, and their collaborations. They really Just Did It. (See what I did there?)
How are you going to just do it? What marketing campaigns are you going to use? Whether it’s radio during peak listening hours and billboards at your city’s biggest junction, or TikTok collaborations and effectively strategizing SEO on e-platforms. Whatever it may be, ensure it’s compelling and reaches the right audience.
#3 Continue to innovate your business.
Along with a grounding in business practices, you’ll want to get up to speed on the enabling technologies.
Innovative technologies can shape the most successful businesses of tomorrow. Adopting emerging technologies and introducing new processes, products and solutions, for example, Slack, Livestorm or Mixmax will improve your results and workflow.
The most innovative tech of recent has been the metaverse. It’s the newest iteration for companies like video game companies Epic Games and 3D virtual browser Decentraland.
They’ve already weighed the benefits and drawbacks of this emerging notion and hopped on board.
What’s the newest tech in your industry? Are you already on board?
#4 Appeal To Customers (Other Businesses)
Consumers (other businesses) are not devoted to a single brand. That implies you’re always competing for your customer’s money. You will continue to gain your clients’ and customers’ business and recommendations if you take the time to appeal to them.
How do you appeal to consumers?
Be extra nice.
Yes, it’s that simple! Phenomenal customer service is a true test of a company’s adequacy. Well, that’s what consumers think, at least. Integrate customer service into all aspects of your company. As problems happen, empower your personnel to think on their feet and fix them for consumers.
Zappos is one such company that is unwavering in its focus on delivering the best possible service experience for customers. They are “powered by service.” Jeff Bezos was such a huge fan of its culture, operational strategy, and commitment to customer experience that they paid $1.2 billion to buy the company.
#5 Create a powerful offer or guarantee.
Eliminate any hesitation for a business to want to work with you. It’s important to always address your consumers’ perceived risk. Not only will it minimize their worries, but it will help them shop with more confidence.
Several studies have found that offering a money-back guarantee boosts retail earnings. It gives buyers the chance to interpret it as an indication of product quality. The way you construct and present a promise can also have a significant influence is very significant.
Shopify is one such store that allows you to try their service free before committing to an active monthly plan. You can sign up for a free 14-day trial. You won’t lose any of the work you complete on your store during your free trial when you choose a paid plan.
Customers will have a more enjoyable shopping experience, make better selections, and be more eager to purchase the goods if it is easy to test and there’s no pressure to immediately purchase.
Bottom line
The B2B market has grown over the years and is still growing. As the market becomes more saturated, businesses must use all aspects of their firm in order to thrive.
What’s your attention-grabber? What’s your next viral campaign? What technology do you need to keep up? What's your customer engagement strategy? What’s your guarantee?
Selling a service is about selling yourself! Choose one or more of these strategies to give your business an advantage.
