Being unique in
the marketplace is an imperative small business marketing strategy.
Uniqueness can be a make-or-break virtue in today’s hyperactive
business world. How do you set your small business apart?
Have you ever
been hesitant when you talk to prospective customers because you can’t
readily explain why they should select your offer rather your
competitors? You have your 30-second elevator speech, but then they
ask you, “So what makes you different?” This is when you better be
prepared! Do you have an answer?
What makes you
different? What differentiates you from the competition? Do you have a
clue?
To
differentiate your business means to create a unique benefit that
clients perceive as being of
greater value to them than the other
options placed before them. It's not enough for you to be different;
you need to have the unwavering ability to assert your Unique Value
Position (UVP).
It is
essential, as you are building your business, to use differentiation
to convert more prospects to clients. Once you have established your
UVP, differentiation becomes part of your marketing small business
marketing strategy and allows you to take a leadership position in the
marketplace.
However, your
UVP is not a static slogan on a piece of paper tacked to your wall.
The only constant is business is change. The value you bring to the
market must change and evolve as the market shifts. You must adjust
your UVP to remain in tune with the needs of your prospects and
clients. Make a point to evaluate and adjust your differentiation
approach at least annually.
The various
methods of differentiating your businesses fall into four general
categories:
-
Your
Price/Value Position
-
Your Marketing
Focus Position
-
Your
Product/Service Position
-
Your Service
Position
Let's take a look at how you can integrate
these into your marketing strategy.
Your Price/Value
Position
No other factor
in small business marketing strategy cause such consternation and hand
wringing as price. Staking out a price position that the market
accepts and competitors can’t use against you is difficult. However,
for the small business owner it can be one of your strongest tools.
As a small
business, prospects might expect a lower price from you than from your
larger competition because they perceive you as having less overhead.
On the other hand, lower prices can be perceived as lower quality,
desperation for business, or an unstable business. We they think of
you matters and your price strategy speaks volumes.
Your larger
competitors with deeper pockets can price you right out of business.
So it is critical that you differentiate yourself through less
tangible, more creative methods. The most powerful way is to adopt a
marketing strategy based on building relationships. Show them how much
you care by getting their names, asking them questions about what they
like, and being a friendly, persona source for them. Remember, clients
only buy from people they like.
Always place
the value of what you are selling before the price in all of your
marketing and sales materials. For example, you might offer:
-
More value:
offer more products or services for the same price.
-
Discounts: use
sparingly and offering regular sales and coupons to get people
motivated; everyone loves a good deal!
-
Promotional
freebies: add-on accessories, companion products, free upgrades, and
coupons for future purchases.
-
Free shipping:
people always
perceive high value when it offers
them convenience.
Your Marketing
Focus Positing
This is the
most important method of developing your UVP because it is the
easiest. As a small business owner you simply can't be everything to
everybody, so you must pick a specific marketing identity and stick
with it. It is an either or proposition in the prospect and client’s
minds.
Are you the
best price or the highest price? Best quality or mid quality? Top
shelf service or no-frills convenience? You get the idea.
Once you have
developed your focus and dedicated all of your marketing strategy to
it, you position yourself as an expert for that area. This creates a
huge advantage over larger companies can build close relationships
with clients that will be never be able to duplicate. You are a
building relationship, not just
selling them stuff.
Here are some
examples to differentiate yourself with marketing focus positioning:
-
Location:
take advantage your closeness to prospective clients.
-
Customer focus:
take
the time to get to know your clients and be very specific about
their needs, wants, and desires. Then building your marketing to
meet those.
-
Customer
relationships:
become a real
trusted source, form partnerships with them, and engage them every
chance you get!
-
Affinity
relationships: build
your personal
referral networks and
associate your product/service with trusted sources.
-
One-stop
shopping:
strive to be come THE source for their needs in your target market;
position yourself to be an expert.
-
Wide selection:
choice
is always a valuable marketing tool, but keep it focused on your
niche and what they want; not just have a lot to offer.
Your
Product/Service Position
This is the big
one! No matter what you do, they purchase your product or service
because of how it improves their situation. Your ability to
differentiate your product or service offering will vary based your
market and type of business.
If you are in a
highly regulated business like financial services, your options may be
limited. Other markets let you be creative and get a little crazy,
like restaurants.
The key to
being unique and successful differentiation is to know your customers
as much as possible. Talk to them, take surveys, monitor their buying
habits and you will get a gauge of what they want. It takes time but
is a great investment in the end.
Let’s not
forget your competition. No small business marketing strategy exists
in a vacuum. Even if you have a niche carved out in your market there
is always competition. Do a little spy work and keep your eye on what
they are doing. Always position yourself in light of what they are
doing. Prospects and customers are always looking for to better their
condition and will research different suppliers to satisfy their wants
and needs. So make sure you are the superior choice for them.
Your product or
service could stand out in one of these ways:
-
Quality:
create a
product or service that is exceptional in one or more ways. Better
quality, more benefits, lasts longer, higher value, etc.
-
Be a leader:
be
the first one in the market to introduce a new product or service.
-
Features/Benefits:
offer the best choice, best results to solve the problem for a
prospect or client’s challenges or needs.
-
Customization:
fit
your product or service offering to meet the specific qualifications
of the client; you may be able to better handle special orders than
big, mass-market competitors.
Your Service
Position
Remember, the
quality and value of customer service is always defined by the client.
All you can do is strive for excellence in filling their expectations
and needs.
You can
differentiate your small business marketing a great deal in this area.
It is full of opportunity to stand out from your larger competitors
because you genuinely care more about your clients. They are worth
more to you because you need them more. They are your life blood.
So get to know
what is important to your clients and give it to them often! This will
build your reputation and naturally lead to
referrals
and repeat clients. That is when your small business marketing
strategy is really working – your gaining business by the marketing
gravity your are creating in all your do.
Here are some
examples of key areas to position your service:
-
Fast Delivery:
exceed their expectations - next day, or one-hour-make it
faster than customers think possible; FedEx built and empire on this
one.
-
Unique channel:
offer
a service over the phone or Internet instead of in person or in
their office rather than yours.
-
Delight
customers:
commodity based
businesses must excel in this are; it may seem expensive to
offer exceptional service--but it pays off.
-
Sales support:
before, during, and after; provide support to clients using
your product. Let them know your value their business and care that
your product or service does what you claim!
-
Guarantee:
reduce their risk by offering 100% money-back, or free
replacement parts.
-
YOU:
offer yourself,
your unique blend of talents and skills, to attract customers.
