The #1 reason why you don't stand out!
Most business owners are aware of who their competitors are, and have a rough idea of what they do but many fail to go the extra lengths to really find out all the nitty-gritty details about them.
Failing to do this results in being unable to differentiate your product from your competitors which means that when you market your business you are just one in a sea of thousands of people doing exactly the same thing.
However, those who go the extra mile are able to develop their unique point of difference which will allow them to target their customers directly, with the solution to their exact problem, at the precise moment they need it.
This is the #1 reason why you need to research your competitors. To stand out from the crowd!
Find out from your competitors:
Who are they?
What do they do well?
What do they suck at?
Try to define what they do that you don’t and vice versa.
Go and secret shop their service or product to get a real insider’s view of how they operate?
Get really clear on their unique offerings, their pricing, the marketing they are putting out, how they attract and retain their customers.
You can now use sneaky software to see what ads they are running and check out their analytics. Super stealthy hey!
Now, create a list of skills or qualities that will help you stand out.
Once you have researched your competitors, create a list of ways you are different. Then ask yourself “how is my product or service better?”.
What makes you unique?
If you could say in one sentence how you are different, how would you say it? Take all of the information you have worked on and create a statement that will help you stand out from your competitors. Write about how your customers will value this point of difference.
Here are some examples:
These are all shoe companies, but their points of difference allows them to target a certain audience so that they don’t compete with the other shoes Co’s.
Nike: "Just Do It" falls in line with their broad appeal to go out achieve greatness in anything you desire.
Reebok: Mostly brands itself as specializing in exercise and fitness. CrossFit is their main selling point, as it provides everybody with a chance to compete and perform in the activity no matter what the age.
Under Armour: Is a brand that focuses heavily on football. If one thinks of a brand associated with high school football, then you are probably going to think of Under Armour.
Below I show the difference between myself and another local Graphic Designer:
Me: My clients benefit from my almost 2 decades in business ownership. As well as a my branding business I have been integral in the growth of our first fitness centre by developing the personal brands of the personal trainers to maximise the growth of the overarching brand. we grew this business to 7 figures. Because of this, I can position myself or explain that my unique point of difference is that I specialise in building status-elevating visual brands that help business owners build authority, increase revenue and impact niche networks.
My clients don’t only get great design services from me, I also help them with brand strategy, digital marketing strategy, business growth strategy, advise from my years of owning 3 gyms and a branding business and they love it!!! Not just your average designer hey!
Other designer: Has had almost 2 decades of graphic design experience, and has worked with businesses large and small.
So you can see, by really understanding how you stand out, you will be able to position yourself as the expert in your niche, or the best product in your category and target the right people who need what you have to offer. Your customers will see the value in what you are offering and will be happy to pay top dollar for yor services.
Hop to it… start researching your competitors and develop your point of difference today!!!
Let’s Connect!
I hope you enjoyed this blog post. If you have any questions about branding or personal branding, connect with me.
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