How to Have a Competitive Differentiation to Define Your Marketing Message
As your business becomes bigger, the message shouldn’t get watered out. What is the differentiator between copycat-like businesses, such as McDonald's and Hungry Jacks?
Lisa: You’ve got two key ways to differentiate yourself.
2. The experience of doing business with you
I was running the session for a group of leaders and we were talking about this. McDonald's and Hungry Jacks can’t be differentiated from each other. What interests me during the session is, I asked who stands out among these organisations? There is an east coast of America company called Chick-Fil-A and a west coast company called In-N-Out Burger. I thought people were going to come to blows arguing about which one is better. The reality is, is the food better at either one of these fast-food chains?
The place of true differentiation is the experience that you were creating for your customers.
But Don’t Change Your Business Only in Response to Your Competitors
If you've got a business and you're trying to try and work out how to make sure that you are targeting your audience appropriately and being separate from your competitors, what's the best way to do that?
Lisa: If your response to competitors is the basis of what you're doing for your business, you are not going to create a differentiated experience. If you want to create true differentiation and be clear with your message, you need to find your purpose in the way you do it. You have to answer these three questions:
- How do we make a difference to our customers?
- How do we do it differently in the competition?
- What do we love about what we're doing?
When you answer these questions, this creates the story of your business, and that's the story you go out to the market with.
Talk to Your Customers and Get Honest Feedback
I always say the best way to find out how you make a difference to your customers is to ask them, would that be fair?
Lisa: Totally. If people are buying your products or renewing their contracts with you, this means that you are doing something as simple as creating a great experience or maybe helping them to be more successful because as an IT company, you are doing all their back up IT. Company owners can sleep at night knowing that you take care of the technical side of their business. It’s not just about the product but the impact you are making on your customers.
How to Do It Differently From the Competition
We've had a customer who had to leave, and so I asked them, what could we have done differently? So if you're selling something that's not very much a commodity and not like a burger, like IT Support Services, how do you make sure that you understand your competitors? How do you make sure that you know them well enough to know that you're doing the right thing and you're doing it differently from the competition?
Lisa: Instead of asking your customers, "Why did you buy from us?" ask, "How did working with us impact you?" They can say you were cheaper, you were the first one here, or you had more widgets, but what matters is to know the impact you have on them. This is how you will differentiate your business from the competition.
You have clarity, but do you have a purpose? Click Next to read more!