Tuesday, June 10, 2014

How to Use Competitive Differentiators to Enhance Your Business’s Brand

Tips to Help You Stand Out from the Competition

small business, buinsess differentiators
In today’s business world, there is a lot of competition among businesses within the same industry. This leaves consumers with a lot of choices regarding who they would like to do business with. Because of this, it is more important than ever for businesses to differentiate themselves from their competition in order to gain brand loyalty and a strong customer base for their organization. Utilizing competitive differentiators in both marketing and sales strategies is one way for businesses to set themselves apart.

What are Your Differentiators?

Every business has differentiators that separate them from their competition – regardless of how competitive a business’s industry is there are aspects of how it operates that is different from everyone else. It is important to identify these differentiators and use them to the business’s advantage. The most popular competitive differentiator that many businesses rely on is price. With so many businesses claiming their pricing makes them different, it is impossible to stand out with just this attribute alone.

Additionally, it is important to evaluate a business’s differentiators based on what they mean to the consumer. If the differentiators the business has defined mean nothing to the consumer, then they really are not true differentiators. Once you have established what differentiators support your business and what aspects are most important to consumers, it will be much easier to market the business to its strengths, creating a much more effective campaign for growing the business overall.

Marketing without Mud Slinging

Business owners play a huge role when it comes to branding and differentiating a business. Much of the reputation of a business lies squarely on their shoulders. When talking to consumers, it is almost necessary to express why a business is better than the others and what makes it stand out. But, as much as this is important, it is also important to communicate these differentiators with dignity and respect – express why the business is better than others by stressing your strengths. When comparing your business with another, the consumer will naturally see that your business stands above the rest.

Using Competitive Differentiators to Your Advantage

Another important part of defining a business’s differentiators is comparing them to the competition. By knowing what competitors are claiming, it will be easier to clearly define what truly sets a business apart from others in the same industry and market those aspects directly. It may also be pertinent to identify weaknesses and see how the business’s strengths offset them – this will help to define further competitive differentiators that can be used to the business’s advantage when marketing to consumers.

Competitive differentiators are the key to successfully marketing any business, regardless of how saturated the industry is. It is important to identify what sets a business apart from other, similar organizations in order to build business and a loyal customer base. Honing in on competitor’s differentiators and weaknesses can help a business truly play to their strengths when marketing. But, it is important to remember to approach addressing why your business is better than others with integrity.

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*Photo Courtesy of Marina del Castell via Creative Commons License

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