Part of marketing yourself and your business is making your business stand out from your competitors. When people think of your business, you want them to know how you stand out from the crowd.
Think about it.
If every business looked and operated the same, then buying decisions of the consumer would be based on price and convenience. Whomever offered the lowest price and was closest to the consumer would get the business.
However, that is not the case. It has been proven time and time again that customers will pay extra or go out of their way to purchase a product or service that they see worth the cost and the effort.
Being different is not always about cost or location.
By defining what makes your business unique and using that in your messaging, you are positioning your business to be seen differently from your competitors. By highlighting your unique value proposition, or UVP, you are giving your potential customers more factors than just cost and convenience. You are helping them understand the unique value your business offers which can tilt their buying decision towards your favor.
So how do you define your unique value proposition and use it to set your business apart?
Start by answering the following questions.
What Are Our Core Competencies?
The best place to help you define what makes your business unique is to look inside. By this we mean look at how you do business and what about it is unique. For this, we like to look at the core competencies of a business.
What are the things that you do really well? What makes you do them so well? Is it experience? Do you have a special method? Do you use tools or materials that you only have access to?
You believe that your business is the best option for your customers. This question is meant to help you articulate exactly why you believe that. Again it should be more than just cost or convenience. You can factor cost or convenience in by saying something like “With over 100 years of experience, we offer the lowest prices in the market.”
Start defining your unique place in the market by looking internally.
Who Are Our Best Customers?
Next, look at the people who you serve. Are your services for kids, but the true benefit is for busy parents? Are you a trusted option for senior citizens in your area? Do you help other businesses better connect with their customers?
By understanding who you are currently serving and the unique way you are serving them, you can begin to develop branding and messaging that appeal to potential customers that fall into the same category.
Are Their Any Inefficiencies In The Market That We Can Address?
Sometimes being different is as simple as offering a service or product that your customers cannot get elsewhere.
You can find this by looking at you what your competitors are doing and who they appear to be serving. When you compare this to your core competencies and your current base of customers, you might see an opportunity to offer a product or service that no else in your market offers. It does not have to be a large or expensive product or service.
You can even use his new product or service as a lead in to your more established offerings. The key is to make sure it is of true value to your audience. Also keep in mind that success breeds copy cats. Your competitors might see anything new that you are doing and begin offering something similar. Be prepared to make your new offering stand out.
Positioning your business to stand out in the market does not just happen. You have to put in the work. By answering these three questions, you are not only allowing your customers to see how your business differs from the competition; you are also gaining a deeper understanding of how your business is unique. With this knowledge you can better brand your business and develop messaging that highlights your organization’s unique value. You can make sure your staff knows how your business stands out in the marketplace so they are able to help you position yourself there.