Wednesday, September 28, 2011

Competitor matching versus differentiation

Look just all the others and improve your chances of a sale



Want to make money? Simple – just sell product.

Oh, I forgot, first your customers have to buy from you. How do you do that?

Conventional wisdom talks about product differentiation and unique selling points. What’s your USP?

Here’s a great USP – have a product that your customers can buy now.

Go to any aisle in your local supermarket and look at a product category – labels are different colours, logos are different, package shapes might be subtly different. But basically they are the same.

Now look up several similar websites of similar businesses and try spotting more than cosmetic differences. Not easy is it.

Let’s just pause for a minute. What are all your friends, consultants and advisors telling you? It’s to differentiate yourself from your competitors isn’t it. Hmmm….I bet they never put any serious money on the line before.

Keep it simple. Work out which of your competitors are successful and take inspiration from them. Use the same channels for marketing. Use similar language. Describe your products similarly.

By competitor matching your customers will recognise your product as being similar to your competitors and there is a chance that they’ll buy from you.

Give it a go now, after all it’s only been the core strategy for successful businesses for ten thousand years. 

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