In business it pays to be different, but when you’re selling the same products or services as everyone else in your industry, it can be hard to find a way to differentiate yourself that doesn’t include competing on price.
While it can seem like a good idea to begin with, focusing on price alone means you have to work harder to make a profit, it leaves you vulnerable to competitors who undercut and you tend to attract a certain kind of customer – those difficult, fickle, price-driven customers who will up and leave you the moment they find a cheaper price.
So how do you find your point of difference when you have the same offering as others? Here are six ideas to get you thinking about how you can differentiate your business without competing on price.
If you are like most business owners your biggest point of difference comes not from what you do or even how you do it, it comes from what you know.
The knowledge you have around your industry, products and services, your customers needs, problems and challenges, the lessons you’ve learnt and the formulas, templates, processes and systems you’ve created based on your knowledge and experience is all extremely valuable.
What’s more it could be what influences a potential customer in doing business with you over your competitors. Yet most of us undersell it.
So if by chance you are underselling your knowledge, here are four reasons why you should stop doubting and start sharing.
While you know exactly what you love about your business and what you think are your biggest selling points – do you really know what your customer’s value and love about you?
More often than not business owners are selling what they want to sell rather than selling what their customers want to buy. To make sure you're not one of them, here are four quick checks to ensure you're not assuming what your customers want, but rather listening to what they value.
Whether we like it or not people make assumptions about us, our business and even how we conduct our business based on the industry we are in.
Don't believe me? What is the first thing that comes to mind when you think of a used car salesmen, lawyer or journalist? When you call a tradesman are you expecting them to be on time or late? Tidy or messy? What about when you meet with an accountant? Are you expecting a passionate, engaging person or a person who has less personality than their calculator?
While some people certainly do fit their industry stereotypes, many of us don't. But as frustrating as it can be to be judged according to a perception, idea or bad experience someone else is responsible for, it can provide you with a very clear way to differentiate yourself and a very powerful method to sell.
To show you here are four tips to help you turn your industry stereotype into powerful points of difference.