Differentiating Your Business in a Competitive Market

October 21, 2022

Differentiating Your Business in a Competitive Market

No matter what industry your business is in, there’s always going to be similar brands trying to be better than you in any way they can. The reality is no business can be the best at everything. This is where differentiation comes into play; what sets your brand apart from the rest. There are several ways to do this but it’s important to choose one to focus on and put all your effort into rather than spreading yourself too thin. Here are a few areas your brand can look at to gain more of a following, increase market share, and improve brand recognition.

Enhance your user experience. 

This can make or break your business model. A poor user experience has the power to deter potential clients before they even look further into your brand’s product or service. Another piece to think about is that people are more likely to tell the world about a bad experience rather than a positive one. Therefore, improving the way a user interacts with your company is a safe way to stand out from competition. 

An example of this is contactless delivery during the pandemic. This offering caught wind quickly, but the brands who first implemented it were able to boost sales and survive the COVID-19 hardships. Thinking on your feet and having that entrepreneurial mindset is what will create unique benefits for your customers that other companies in the industry won’t provide.   

Challenge existing industry expectations. 

This is a much more challenging differentiation tactic than updating your user experience. When done successfully, you have the opportunity to set yourself apart from some of the most well established brands in the industry. Think about how your company can put a spin on what’s already being done. 

An example of this is the food chain, Wendys, Wendy’s decided to market themselves as a fast food chain but go above and beyond to stay committed to using only fresh meat in hopes of improving the fast food industry altogether. Disrupting the norm is bold, keeps people on their feet, and forces similar brands to rethink their company structure.  

Define yourself as a master in the industry. 

Labeling your company as an expert in whatever field you are in is a great way to gain the trust of your customers and build brand recognition. Market yourself as the go-to source of knowledge using your experience, personal story and best content. People will always be receptive to the emotional appeal, so connecting your brand to your personal story will automatically make you stand out in the crowd. 

Prioritizing content is what will have the strongest impact on your target audience. Establish your professionalism with high quality blog and social media posts. Also, utilize all platforms to ensure your brand is considered a well rounded and reliable organization for which your competition doesn’t have the credentials. 

Be strategic with how you stand out from others. 

Pick one element to improve upon, put all of your energy into making that specific aspect of your brand significantly better than others in the industry. A noticeable difference is what is going to draw the attention of potential customers. 

Remember you want to differentiate yourself in a positive light and not stick out like a sore thumb. The process is a slippery slope because failure can result in losing existing customers. But again, the outcome has far too many rewards to not at least give it your best effort.