by Karen James
A business diagnosis is often painful to hear, but necessary to determine treatment. If your business is a recycled idea dictated by competitors, product, price and message, itâs time to make an unexpected move. Differentiate or go belly up.
Focus on bringing unique value to customers by offering something that no other business in your market offers. It must be necessary, needed and one that they value and will pay for. If you cannot differentiate in product or service, consider image (how the product is presented), channel (how it is distributed), or personnel (who sells it).
You donât have to be the best at everything. Determine the place you want your product or service to occupy in your market and dominate that space. This is called positioning. You can position your product based on performance, convenience, reliabilityâ¦
Another important move is having a value proposition. This is a short, compelling statement, unique to your offerings, that tells customers why they should buy from you.
Finally, know your best customers. They are not the ones you break your back to sell to and do not pay. They are the ones who value your area of specialization and are willing to pay more for it. This is called segmentation.
In summary, find the one thing you can do better than everyone else in your market and the people who value what you offer and will pay more for it, and treat those people better than anyone else ever will and you will thrive.
Contact us today at [email protected] or (784) 456-1558 or (784) 494-0031. Weâll help you get noticed.