“Life’s no piece of cake, mind you, but the recipe’s my own to fool with.” – Haruki Murakami
Likewise, building a business is no piece of cake, either. Especially if it can’t find a way to stand out in the marketplace.
There is some truth to the statement that most businesses are commodities. In some industries, core products or services can be very similar when they have no significant features or benefits that set them apart.
When products are similar, their value (read price) often becomes a major purchasing factor. This can lead to a race to the bottom, making businesses seem more like interchangeable parts.
So the ingredients you and your competitors use within your space can start pretty much the same. But how do those ingredients combine? That’s where you create something unique.
It’s why your prospective marketing agency should ask how you differentiate yourself in the marketplace. We do that to leverage those strengths, or first, help you discover and home in on how to best present you and your products.
We start by understanding your unique selling points (USPs). Knowing how they set you apart from competitors allows us to craft targeted messaging that resonates with your ideal customer. Pinpointing what makes you special trumps generic marketing that won’t attract the right audience.
Those USPs are super important. They help us understand the competitive landscape. That, in turn, enables us to design campaigns that effectively position you against competitors.
This could involve highlighting unique features and benefits. Those address specific customer pain points you solve best. they also emphasize brand values that resonate with the target audience.
How those differentiators work together are the building blocks of another key to carving out a unique position in your market: your brand. The marketing agency uses those unique qualities to develop a comprehensive brand strategy to strengthen your position to foster brand loyalty.
As we mentioned in a previous post, your differentiation strategy is likely linked to your overall business goals. Ensuring your marketing efforts align with and support those goals, creates a cohesive strategy for achieving success.
All of this comes down to creating campaigns to attract high-value customers. Because more customers lead to a better return on your marketing investment.
While commoditization is a risk, it’s not inevitable. Businesses that focus on creating unique value can sidestep the commodity trap.
So, how are you currently baking that cake?
