A big part of the brand development process is figuring out how to position yourself against your competitors. This can be easy or difficult to accomplish depending on the industry you do business in, the size of your customer demographic, and other factors. Sometimes, it’s your business model that sets you apart; other times, it can happen through telling a more compelling company story.
To help you start thinking about the process, here are five basic strategies you can use to distinguish yourself from your competitors:
Focus on one product/service and specialize
One of the easiest ways to frame your company for success is to become an expert in a very narrow field, focus on a specific problem, and do a better job than the competition. For example, whole companies now exist that specialize only in SEO, and use their expertise to set themselves apart from full-service marketing agencies.
Or, provide a full suite of services
The opposite of number 1, this strategy involves offering a whole suite of services in an industry that’s otherwise fragmented with specialists. This strategy works because the fact that the customer can go to you for all their needs can be very appealing to them. As the field of online marketing becomes more and more complex, for example, a client might appreciate a full-service marketing agency that offers SEO, content, web design, advertising, and analytics all under the same roof.
Be a renegade
If your range of services doesn’t drastically differ from your competitors, you can still differentiate yourself by providing a unique company story or a way of doing business that stands out against your competitors in a certain way. GoPro is a good example of this. Though the company’s product is certainly good, there are many like it on the market. The company’s ability to align with the extreme sports demographic early on turned it into an industry leader.
Focus on User-Friendliness
Over the past two decades, technology has been reinventing industry after industry and improving user experience everywhere. You might think that all the good ideas have already been taken, but that’s definitely not the case. For example, just a couple of years ago, Uber was able to take on the taxi industry by developing the convenience of ordering a ride through an app interface. Now, it’s almost inconceivable to have to make a phone call to order a cab. Many other industries are going to be turned upside down by companies focusing on technology and user experience.
Find a new demographic
Sometimes, businesses in established industries have been focusing on the same customer demographic for years and have overlooked changes in the business climate. Finding a different customer demographic (for example: martial arts, but for moms; dating, but for Christians) just might give you the chance to flourish against your competitors.
However you decide to position your business, the next step is to spread the word about it. That’s why 2015 is The Year of Digital Media and Your Company Story. Stick with us and we’ll show you the way.