5 Ways to Differentiate Your Business from the Competition

5 Ways to Differentiate Your Business from the Competition

One of the main reasons it’s so important for businesses to have competitors is because it helps keep everyone on their toes. Why? Because each business is going to work to set themselves apart from the competition. Through these efforts, their offers, services, and standards will improve.

If you want to successfully attract more customers and ensure your business grows, then you have to distinguish what you do from what everyone else does. Fortunately, there are several ways you can stand out from the competition by using the resources you currently have.

1. Communicate Remarkable Impact

The global competition and disruption of technology have caused countless businesses to be unable to effectively compete. More often than not, they fail to make their unique value clear, resulting in them sounding exactly the same as the competition.

This leads to low conversion rates, increasing discount levels, reduced win-rates and more.

The solution: Establish a remarkable company and product story that will resonate in the hearts of your customers.

2. Focus on a Cause

This brings me to point two: As Simon Sinek says: ‘People aren’t going to buy “what” you do, but they will buy “why” you are doing it’. Make sure you communicate ‘why’ your company was founded or ‘why’ your product was created. What’s the big idea? What do you believe is the art of the possible.

Your story and motivation are going to encourage customers to shop with you, over the competition.

3. Focus on a Niche

An effective way for you to separate yourself from the competition is by using niche marketing. When you specialize in a certain service, product or even an audience type, you can gain the advantage over your competition. While you may still serve a broader audience, as well, specialization will help distinguish you and your brand.

Additionally, those in your niche market are also going to be more likely to choose you if they need a service or product you specialize in. By being known for having specific knowledge in a certain area, you will have an automatic advantage over the competition who may have a broader experience level.

4. Have Surprises

Surprises are an effective and fun way to set your business apart from the competition. Think about ways to communicate the unique value of your product in a way your audience will always remember. Steve Jobs was a master doing this. Remember how he introduced the iPhone or the MacBook Air? Surprises stick – and that’s exactly what you need to differentiate yourself in the sales process.

5. Create a Powerful Offer

Another way you can get buyers to choose your business over the competition is to reduce the hesitation or risk they may face when it is time to actually make a purchase. And remember, this is not about giving a discount. Think about both the immediate and the long-term concerns that a person may have, then answer them with an offer, such as a year-long return policy, money back guarantee, free trial or something similar. This builds trust and can also be highlighted in what makes you unique from the competition.

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