Marketing Differentiation | #004

 


“Differentiation” and
“positioning” are two of the most common
marketing terms.


So how do they apply to your business?


This episode focuses on actionable and practical tips to help
your business stand out from the crowd and away from the
competition.  


 



[02:02]



"In a crowded marketplace, fitting in is failing. In a busy
marketplace, not standing out is the same as being invisible.”


 " - Seth Godin


Why are customers going to pick you over your competitors?


Being different in the right ways has spawned new ideas, new
companies, and new industries.


 



Being average is the mark of a dying company.
The world needs your creativity, insight, and inspiration.



"If a product’s future is unlikely to be remarkable – if you
can’t imagine a future in which people are once again fascinated
by your product – it’s time to realize that the game has changed.
Instead of investing in a dying product, take profits and
reinvest them in building something new.” -Seth Godin


Modern Marketing Meaning:  If a products future is
unlikely to be remarkable, you're better off doing something
else.


If your customers are confused and uncertain of why to choose you
over someone else, your odds of success go down dramatically.



[04:33] How do you make sure your
business is remarkable enough to be heard above all other
businesses?



Positioning: An effort to influence consumer
perception of a brand or product relative to the perception of
competing brands or products. Its objective is to occupy a clear,
unique, and advantageous position in the consumer's mind.


 Business Dictionary


 


Modern Marketing Meaning:  How the
customer sees you.


Where do you sit in the customer’s mind when they think about a
product or service that you offer?


It is crucial to be aware of your positioning
and to know where you currently sit and where you'd like to sit.


This ensures you maintain consistency and you end up where you
desire.


 


[05:52] Differentiate to
Dominate.



"Conformity is the jailer of freedom and the enemy of
growth.”-JFK


 


This can be applied to business.


With 28 million small businesses in the U.S. alone, fitting in is
not going to be a profitable and long-lasting strategy.
 [Forbes.com]


 



[06:55] When establishing a form of
differentiation, there are two big traps that businesses fall
into.



 
Deficient differentiation: Not being different
at all.

Born out of fear, resistance to change, uncertainty in a
business’s true value to its customers.


Find a way to clearly define the differences between yourself and
your competitors or risk being seen as a commodity.
Defective differentiation: Being different in
a way nobody actually cares about.

A common trap for businesses first trying to stand out from the
masses.


Key point: See what customers value rather than
finding something to be different about.


Identify what factors, traits, and benefits your
target market values and shift your attention accordingly.


   "Being different is great, just make sure you’re
being different in a way that actually matters to your
customers."


 



[10:58] The key to differentiation and
to standing out in your market place is to first know
where you stand in relation to your competitors in regards to
price, quality, and value or "positioning".



Next: Focus on the one thing your customers care most about that
best aligns with your business and then go about making that your
businesses primary driver, differentiator, and unique selling
proposition.