Image Source: http://www.flickr.com/photos/cynergy/2607120416/
Your small business is probably not the only business in the world that does what you do, so how do you differentiate your company from all of the other companies out there? The answer can be found in identify your unique selling proposition (usp). These are the things that make you and/or your company different, but sometimes it can be difficult to figure out what your unique selling proposition is? Follow these three tips to help you to differentiate yourself from the rest of the market:
- KNOW YOUR INDUSTRY– the first step is to know what is going on in your industry. What is the latest and greatest thing out there. What changes have you seen in your industry? What has remained the same in your industry? How can you be an innovator within your industry? You want to make sure your company is doing things differently, don’t go with the flow, go against it! Most of the major brands out there became successful, by doing it differently or offering it in a different way. Apple did not get to be such a major brand by following the crowd and doing it the same way as the others in their industry, no Apple became a super brand by being innovative!
- KNOW YOUR COMPETITORS– It helps to know what your competitors are doing, so you can be aware of what they are offering and how you can offer it in a better way. Nobody really likes to snoop around (well maybe some people do), but it helps to secretly shop your competitors and get to experience the way they do business. Sam Walton the founder of WalMart was known to be obsessed with his competitors, he wanted to know what they were doing, how they were doing it, when they were doing it, etc. so he could do it better!
- KNOW YOUR AUDIENCE– I know I probably say this in almost every post, but knowing your target market inside and out is really key in knowing the needs of your customers, and identifying what makes your product or service the ideal solution for your customer. McDonald knew that people wanted food quickly. They did not plan to be the best burger and fries out there, but created a system that offered reasonably good food (I know that is debatable) in a very fast way, which is what the consumers wanted!
So if you strive to be innovative, to do things differently than your competitors, and to know the needs of your audience, you are on the path to differentiate yourself from the rest of the market and becoming a successful brand!
What ways do you use to differentiate your small business?