Can You List Your Competitors?
Have you gone on a Google search and looked at your competitors? To know how to differentiate your business, you need to know who your competitors or counterparts are and what they are offering to your customer base. When you know this information, then you can distinctly differentiate yourself from your competition.
Every business, no matter how niche you are, will have competitors. If you want to stand out, you need to understand what they are offering and how you can offer services that add more value or are solving different needs. In doing this, you can differentiate your business from your competition.
How is Your Business Unique?
While you may have competition in your vertical, you can set aside your company as unique in the value, services, and style you offer your clients. In addition, when you do your competitor research, your competitor information and websites can offer insight into your own business value, what you have to offer, and what you can do to expand your reach. Even if you offer the same services, I guarantee you do it a different way than the rest because you are inherently unique. There are no duplicates of you, and when you present your business, be sure you are showing up in your personality and authentic self.
How to Set Yourself Apart from Your Competition
Setting yourself apart from your competition not only makes you stand out amongst other companies but also increases the demand for your product or service as the clients can see your business as offering a unique service. This, in turn, can enhance your business’s overall success.
What is Your Business Niche?
Your business niche is the different parts of your service or product that you bring to the table, that your competitor lacks or does not provide. When I ask business owners why customers should choose them over their competitors, they often don’t have an answer.
To better understand why potential customers would choose your company, you’ll want to examine your customer base.
Why did your clients choose your company? What do you offer that your customer base won’t find anywhere else?
Asking your customers for feedback regarding why they purchase from your company can add incredible value to your business knowledge and marketing. You can conduct your own survey and look at the testimonials that you collect. Be sure that when you are asking for testimonials, you are getting specific and identifying why they chose you. Those answers are gold and can be used in future marketing efforts. If you have a larger budget, you can hire a professional marketing agency to conduct research because they know which questions to ask your clients. A marketing agency can conduct the research and analyze the results. Customer and competitive research can be the foundation for understanding what makes your business unique, and what sets you apart from the rest of your industry.
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