Why You Should Focus on Differentiation
We all want to stand out.
Our businesses need to stand out. It is not enough to be good at something, for a business to be successful it must have its own special approach and skills.
What is Differentiation
Differentiation is the process by which you make a product or service distinct from the competition. It determines how your business will stand out as compared to others in your market.
[ctt template=”2″ link=”87yLc” via=”no” ]Differentiation is the process by which you make a product or service distinct from the competition. It determines how your business will stand out as compared to others in your market.[/ctt]
Every time you yourself make a purchase you are choosing one option over another: the feature or element that made you choose your option is differentiation.
Why Differentiation beats Competition
A few weeks ago I wrote about Product Competition, in which a business goes head to head with a competitor to win business.
Differentiation is what eliminates Product Competition from your obstacles list. These are features, descriptors and attributes that will attract the right audience to you, and away from the competition.
A perk to this strategy is that once you eliminate cause for conflict, your former competitors become potential collaborators. If you are selling a slightly different solution, or to slightly different audiences, you can both benefit from working together.
Why Differentiation beats One Size Fits All
“Everybody who fogs a mirror” is not a good target audience. Different people and entities have different needs and buying preferences. Choosing specific target markets and going after clients that fit that description is a more effective way to grow a business (more on this on another day).
Differentiation will also help define exactly who your best clients are. You can focus your attention, your efforts and your resources on your ideal clients, knowing your message will resonate with them.
Why Differentiation Matters
Because it gives you a competitive advantage. And you can’t grow your business without one.
Are you struggling with the best way to help your business stand out from the competition? Contact me to discuss how I can help you build a Competitive Strategy that will focus your business on growth.