Are you like your competition? I hope not! If so, how boring you must be! The key to having more customers is providing something that no one else does and doing it better. If there is nothing different about you, then why should I buy your product or service? Price? That’s not a good pricing model for most businesses. There is always going to be someone else out there that is willing to decrease their prices and go out of business faster than you (hopefully). Competing on price provides you very little opportunity to have a profitable business.
The key for having a profitable business is differentiation. That is what allows you to add value and receive compensation for it. Your business can not be successful over the long haul without profitability.
So what are 5 ways that you can differentiate yourself from your competition?
- Write about what you do and help inform the public by publishing your articles or newsletters. It will increase your outreach and new customers will come to you for advice.
- Be personable. People buy from people they like. So add your personal touch to the products and services that you provide and customers will be appreciative.
- Do something out of the ordinary. Who says you have to do something like everyone else? What can you do that sets you apart? My example: I’m a business consultant who hosts a radio show targeted to my ideal audience. This is a way that I can help them learn more and introduce myself as a resource.
- Be an active part of your community. Involve yourself with the community that is full of your potential buyers. It becomes a win-win situation when you work together to create success for all.
- Specialize for your niche. A jack of all trades may work for some, but it is usually not a good fit for most. With the amount of information that we have available to us today, it is difficult for an individual to be an expert on many things. So pick the one or two things that you enjoy and just dive into the information so that you will then be able to provide specialized information to your clients. People pay for knowledge…so gain it and you’ll be rewarded.
There are so many other ways that you can find your way through the wonderful world of business. The key is don’t just be ordinary…be extraordinary. You’ll then be rewarded with great customers and a profitable business. If there is nothing special about your product or service, then people will have no reason to return. Provide them with a memorable experience.