How to Differentiate Your Business and Create a Competitive Advantage
As a business owner focused on success, you're already aware of the intense competition in your field and the need to distinguish yourself from the rest. The solution lies in brand positioning. Brand positioning involves differentiating your products, services, and programs in the eyes of your ideal clients. When you do this you’ll gain a competitive edge that enables your business to thrive in any market.
Keep reading to explore six effective ways you can use brand positioning to create a competitive advantage.
Make What You Offer Perform Faster and Easier
One way to differentiate yourself is by making your services perform faster and easier than those of your competitors. This could be as simple as creating shorter delivery times or providing an easier-to-use interface for your customers.
Delivering your program, product or service in a shorter time than your competitors could be the thing that makes people choose you. Just imagine needing to get a bunch of flowers to your loved one at 5 PM when all florists close at 6 PM. And there’s only one florist in the locality who does fast delivery.
Would you choose them? Of course, you would! Similar to this are services that require less effort for customers, think Amazon’s one-click purchase.
Provide Better Value
Another way to differentiate yourself is by offering value that's better than what your competitors offer. And this can involve making your offer cheaper than the competition or offering additional features at no extra cost. Competing on price could result in a race to the bottom, but offering value is different. After all, only one brand can be the cheapest.
By providing better value for money, people will be more inclined to choose you over other businesses selling similar products or services. Not only will they gain something they wouldn't get from your competitors, but they’ll feel like they're getting more bang for their buck when they choose you.
Make Your Offer Attractive And Sexy
You can differentiate yourself by styling your offer in such a way that it's attractive and sexy. Something that makes your clients feel good or look good when they engage with your brand. You can do this through strong visuals, clear copywriting, or unique packaging designs that make your audience feel like they’re getting something special when they buy from you above your competition.
This was how Elon Musk designed Tesla. He went about figuring out what people wanted to feel when driving their cars. What people came back with was they wanted to feel sexy and attractive when driving them. True story!
Provide Luxurious Offers
Typically, luxurious offers are higher in quality, but they also have a higher price tag. That's another way you can differentiate yourself from the competition. People are often willing to pay more for luxury items if they feel they're getting something special or exclusive.
Make sure that whatever premium item you offer has something unique about it that sets it apart from what everyone else is doing. And bear in mind that people will pay for quality so they only have to buy once or trust one company to get it right.
Being disruptive means doing things differently from your industry's norm or introducing new concepts that change the market entirely. This could involve completely changing how people perceive a particular industry or product category. Just like how Uber changed the taxi industry completely or how Airbnb did for vacation/holiday rentals and holiday homes.
This means keeping your business ahead of your competitors while also giving customers something fresh and exciting every time. The idea is that your customers are those who like the fresh and exciting every time, and that's what they keep coming back for again and again. Are you an Apple or Android person? How many times have you purchased the latest new phone, laptop, watch or headphones?
To Sum It Up!
Brand positioning is a fantastic strategy for every business owner to set themselves apart from competitors and create a competitive advantage. By utilising any combination of the six ways to differentiate yourself, such as providing better value, being disruptive, and consistently innovating, you can attract more customers and ultimately grow your business.
Always keep your ideal clients in mind and tailor your brand positioning accordingly to ensure maximum impact.
And to help you achieve that, I've got a freebie for you. Click to download my brand proposition canvas and master your brand's positioning, allowing it to stand out in today's competitive market. This tool will also help you with your brand’s messaging.