How To Differentiate Your Company From The Competition

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Collaborative Post¦ There were reportedly 5.98 million private businesses in the UK at the start of 2020. Many of these companies are small and medium enterprises (SMEs), so stiff competition is one of the realities to contend with as a modern-day business owner. Consequently, brand differentiation is key to your chances of success since consumers gravitate towards unique enterprises. Please consider the following points if you wish to learn more about making your brand stand out from your competitors.

  • Pick the right tone of voice

The right tone of voice is critical to differentiating your enterprise from the rest since every brand communicates to its clients in various ways. Brand archetypes have a massive influence on what tone of voice you select to send messages across to your customers, so it is vital to pick the right one in the first place. For instance, a more mature and serious brand like an online banking platform is better off using formal language to communicate to clients. On the other hand, if you are a light-hearted brand seeking to connect by entertaining, a fun and conversational tone is more likely to endear your brand to a target audience interested in appreciating the humorous side of life. For instance, Ben & Jerry’s use a lively, comic, and enthusiastic tone of voice consistent with their Jester archetype. Knowing your target clients inside out will help your brand find its ideal tone of voice, so it is critical to know your audience well before deciding.

  • Create a simple yet powerful offer

Customers have numerous options in the modern business environment, as many businesses offer similar products and services to yours. Therefore, it is imperative to lower the hesitation clients encounter when patronizing your business. You can convince potential clients to do business with you by offering them an extra incentive to do so. This way, you give them a reason to select you over competitors who are simply not offering these perks. For instance, if your company provides intangible products like software, games, or apps, offering prospective customers free trials is an excellent sales strategy that can get more clients than your competitors. A 2017 study showed that B2B enterprises that leveraged free trials saw an average of 66% conversions among users, so you can count on a good number of consumers to choose your brand after testing your products and services. Rewards for repeat clients, money-back guarantees, year-long return policies, and no automated answering services are other simple but effective offerings that can make your brand the preferred choice over your competition.

  • Price strategically

Some businesses love competing on price, and others would rather avoid this. Either way, there is no denying that price is an easy and effective way to differentiate yourself from competitors. Consequently, determine whether your products and services will be high cost, low-cost, or mid-range, depending on your target consumers. For instance, Rolls Royce is a car brand that is unapologetically in the high-ticket section of automobiles. Audis are in the mid-range area, and Ford vehicles are typically more affordable. You can even structure your pricing more granularly by making different products with varying price points. For example, the Volkswagen Group manufactures Bugattis, Audis, and SEAT vehicles for high-income, middle-income, and low-income earners. However, always ensure that your pricing is in line with your customer personas and brand strategy.

  • Niche down

It is impossible to be the best at everything, and your business should not waste its time attempting to be the go-to brand in all areas. People have varying needs and interests that drive them to buy, so it is impossible to appeal to every single buyer out there. Therefore, pick a niche to avoid being so general that people get confused about your brand’s message. You can start by identifying what matters most to your clients and what they need from you. Then, create a niche to address these pain points and position your brand as the go-to business for their needs. For instance, you can be a personal trainer for C-Suite level executives only, addressing the needs of busy professionals who desire to remain fit nonetheless. This niche target audience creates exclusivity besides narrowing down your marketing focus. As such, any C- Suite level executive who hears about your services will likely be more eager to patronize you over a generic personal trainer.

  • Highlight what makes you different

Several business experts agree that it is prudent to promote your key features and benefits that make you unique, so keep this in mind. Therefore, distil your overall value down into a few essential points to earn the attention and trust of your target clients over your competitors. Your standout features can be anything that sets you apart or the particular pain points you consistently solve for customers. These features can also be what you perform, achieve, or stick to 100% of the time. For example, if you are the first or one of the first brands to use a particular technology or material during production, you can highlight this to make you stand out.

Similarly, you can call attention to your use of materials from a particular source or any noteworthy attributes about your idea formation or product testing. Also, if your products are handcrafted or customized, make your prospective clients aware of this distinctive piece of information. The key here is always to emphasize your uniqueness, so do not hesitate to tout your distinguishing features in all marketing materials to inform as many target clients as possible.

  • Deliver a world-class customer experience

Super Office estimates that 86% of consumers are willing to pay more to enjoy a better customer experience. Indeed, customer experience overtakes price and product quality as the most crucial driver of consumers’ buying decisions. Therefore, it would be best to improve your company’s focus on the customer experience to set your brand apart from similar businesses. You can create helpful content, improve your customer service, and personalize all client interactions to improve your customer experience significantly. A world-class customer experience results in high levels of client satisfaction. And satisfied customers are less likely to leave your business for alternatives, so this particular tactic is undoubtedly worth considering to set yourself apart from competitors and inspire loyalty in patrons.

  • Highlight your values

Your brand strategy must also define what you stand for to connect with the right target audience and differentiate you from others. Consequently, pick your values and stick to them without compromise. Also, put your values and beliefs at the forefront of your marketing efforts for the best results. For instance, if your company is all about ethical trading, highlight this when discussing your business. This way, your brand will stand out and soon catch the eye of customers who share similar values, and they will be eager to align themselves with you. Customers are more likely to do business with people identical to them, so talking about your values and beliefs is an excellent way to differentiate yourself from the crowd and attract the right clients.

  • Be full of surprises

Surprises are a fun and great way to set yourself apart from other businesses, so consider surprising your clients occasionally. You can stick an inspirational quote in your packaging or give a simple gift to the 10th customer of the day. If you are a real estate company, leaving behind a home sweet home sign or welcome mat when you help a client purchase a house is a small but effective surprise that you should consider. This simple and memorable gift can solidify your reputation as a thoughtful company and distinguish you from others in your sector.

Disclosure: This is a collaborative post.

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