4 Ways to Differentiate Your Business from Your Competition
Did you know that one of the most important solutions to growing your business is knowing “What Makes Your Business Different”? Why do people come to you to buy? This is the MOST important to clearly know before moving forward.
What is it?
And let’s not talk about things like:
“I give a good service”
“I have the best products”
“I give a personalized service’
These points are NOT what makes you different.
If you’re in business I sure hope you do all these 3 points!
What makes YOU different?
What do your clients really appreciate about your service?
What makes your client’s want to do business with YOU?
What makes you stand out from the crowd?
Here are a 4 ways to help your business stand out from the crowd:
1- Narrow your target market down:
This is EXTREMELY important to better reach your core customers in your branding
- Have a specific customer niche
- Identify multiple characteristics of customers to narrow your target market
- Focus on the skills or service that uniquely benefit that customer
2- Address your customer’s pain points
By MASTERING and UNDERSTANDING your customer’s pain points, your marketing will be a success
- What problem are they facing
- What solution do you have to their problem
- Are your customers spending too much money and want to reduce their spend, are they wasting too much time, do they need to improve a specific process?
- Viewing your customer’s pain points allows you to start thinking about how to position your company or product as the solution to your prospect problems and what they need to be satisfied
- People LOVE stories…. you can use your customer testimonials to share your customers’ experiences
3- Do business differently than your competitors
Competition is good, it drives quality, innovation and branding;
Differentiation in your business is the key to building your brand loyalty
- Make your business different, what do you do different?
- You will always have competition, what makes your business shine?
- Do a SWOT analysis to help you evaluate what is different (you will be able to address where you are weak and strong, what needs to be worked on, and then you can compare your business point by point with your competition)
- Once that is complete, you will need to Communicate your Market Dominating Position (also known as USP / Unique Selling Proposition)
4- Create a powerful & irresistible offer or guarantee
The magic in the pudding is YOUR IRRESISTABLE offer!
- Now that you know your audience, you will be able to clarify your marketing offer
- Make your offer easy to understand, accessible to your audience and have a compelling call to action
- To have a ROI on any funnels created, make sure to use the right words in your messaging, make sure you are not being seen as you are ONLY trying to sell and ensure to bundle your products in a great way to increase the value of your offer and make more sales.
- REMEMBER: customers are looking for more value for their money, so make it an irresistible offer.
Your irresistible offer is a simple strategic structuring of your products and/or services where the value to cost ratio is VALUE-HEAVY. It’s not about SELLING, it’s about the value of your offer must exceed the cost to access the value.
When a potential customer sees your offer, you want them to say:
“This is a no-brainer”
“I MUST buy this RIGHT NOW”
Remember, prospects are NOT looking at your price, they are looking for VALUE!
Here are a few pointers:
- Stop discounting
- Add lots of value
- You can use bundling
- Attention grabbing risk reversal
- Offer a limited time offer
JUST MAKE SURE… it doesn’t sound SALESY…
An irresistible offer is about making your customer feel like they are getting the most value for their dollars spent.
Hope this read opened your eyes to opportunities that are missing in your business, don’t forget to apply what you learn to see the difference it will make in your business!
If you need help identifying your market dominating position / unique selling proposition and identifying your key differentiators, send me a detailed message with your need and it would be a pleasure to serve you.
You can also try my FREE test drive to gain access to our resources and tools.
Check it out at www.BestEntrepreneurSolutions.com/guidedtour
To Your Success,
Nancy Baki at Best Entrepreneur Solutions