What makes you different from your competitors?

What makes you different from your competitors?

Alexander Nikolov Strategies for Business Growth

Do you know and can you clearly communicate what makes you better than your competitors?

Ask yourself: if my prospect looks at a catalog (online or offline) of 100 businesses that do the same thing, is there a reason to choose me?

In the current situation of economic crisis (which will continue in the coming months and maybe even years), differentiating yourself from your competitors becomes even more important. With a shrinking market, your business may not suffer if you are clearly different from the rest: in this way, you will be able to get an bigger share of the market and move forward, even though the market as a whole is shrinking.

At the same time, many business owners make the mistake of not formulating messages that clearly distinguish them from their competitors. And as a result, they do not differ and then the customer’s decision is like the decision when buying a commodity: he or she just looks at the price and…. basically nothing else.

Now, imagine that you differentiate from your competitors….

First of all, this will allow you to properly position yourself in the market and teach your clients the criteria by which they must decide to buy: criteria that lead to you being the first choice for them.
Second, it will allow you to sell easily: you and your sales people will be able to clearly communicate the benefits to your clients and customers. And these benefits will be something that the prospects cannot get elsewhere if they work with your competitors.

What can you do to stand out from your competitors?

First, look at the reasons your current clients choose you instead of your competitors.

You may think that you don’t have many advantages, but if you think deeper, you will probably find out that you have many advantages over your competitors – which you simply have not clearly defined yet. If you have a team, get together and brainstorm for 60 minutes on the topic “How are our products or services better than those of our competitors?”. You will be surprised how many advantages you will find out.

Your next step is to find out more advantages that will help you in the marketplace.

Think about what you can add to what you sell. Add things that your competitors don’t offer: additional service, additional consultation or training… Or add additional benefits: free analysis before delivery of the service or product or free analysis after delivery, etc., or longer-tem guarantee, or something else. Think about what you can add, which won’t cost you much time and money, but which will position you differently and allow you to even ask for a higher price for what you offer.

And finally, think about how to say clearly what you are NOT.

Tell clearly what things that others offer, you deliberately don’t offer because you don’t want to be like the other people. For example, if you teach others how to make more money, you can clearly say that unlike others who promise people can get rich overnight, you do not – because you don’t believe those magic pills work in the long run. And right after that, of course, say what your approach is instead of these standard things that all other people in your industry offer and promise.

Your assignment

Your assignment now is to find out at least 5 advantages that you have and that your competitors do not have. What are the things that will help you stand out and make you №1 choice for your customers? Define them and immediately include them in your communication with clients and potential clients… And see what this will bring to you.

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