What makes your business different from the other guy, down the street, who does what you do?
I recently gave a seminar on LinkedIn for the BBB and in a room of about 20 people, two air conditioning companies were represented. Both serve both residential and commercial.
Let’s take their industry for example. What could be the differentiating characteristics?
- Location – here, the Phoenix Valley covers a huge area. For a local business, how far will you drive for a customer?
- How long have you been in business?
- Are you BBB Accredited, what’s your rating? Awards? Reputation?
All of that is important. When someone’s a/c unit breaks, especially here in Phoenix, they are going to go online to find someone to fix it fast. What’s going to come up?
- Your Website
- Google+ Listing
- Other Social Media Networks
What is someone going to find there? Good reviews? Testimonials? A nice selection of products? Fast service guarantee? Service area? Put yourself in the searchers shoes. Is what they see online about your business going to entice them to call or click on “Request a Quote”?
For many businesses, it’s not about a product, but the service you provide. If you’re willing to go the extra mile for a customer, that makes you different.
“A business can peg its USP on product characteristics, price structure, placement strategy (location and distribution) or promotional strategy. These are what marketers call the “four P’s” of marketing. They are manipulated to give a business a market position that sets it apart from the competition.” Entrepreneur
Other differentiating factors may be:
- Knowledge and expertise
- Certain services that you offer that your competition doesn’t
Another key factor is your target market. Defining your target market will help you get to know them and you may be able to cater your products or service to their needs rather than a huge broad market.
Three tips from that Entrepreneur Magazine article I quoted above:
- Put yourself in your customer’s shoes.
- Know what motivates your customers’ behavior and buying decisions.
- Uncover the real reasons customers buy your product instead of a competitor’s.
I’ve put together the Define Your Target Market Workbook to help you do just that. No matter if you’re B2B or B2C, you still have get to know your target. This workbook will help. Click here to down load it.