Differentiate or Die
February 22, 2011
I often hear business owners say “I can’t differentiate – my product is a commodity.”
My response. Water!
Think Evian. If bottling companies can find a way to differentiate bottled water, you can differentiate your business.
Here’s the key. Differentiation is all about creating value for your customer.
Look for ways to create value that competitors find difficult to match. It doesn’t have to be expensive. It just has to add that little bit of value that gives you the edge.
Think like your customer. What do they value now? What might they value next? Listen to the verbal and non-verbal cues. Think out of the box.
Finally, watch the market leaders. You can learn a lot from great companies like:
Apple – great design, first to market with great products, cool.
Fed Ex – “When it absolutely, positively has to be there over night.”
Fox News – We Report, You Decide. I love this one because their slogan not only sets them apart, it marginalizes their competition.
Here is the best part. These companies go beyond slogans. They each deliver on the value proposition that they have created in the minds of their customers.
If they can do it. So can you.
