Focusing too much on the competition is risky business. Some people get so caught up with what their competitors are doing that they forget to plan what they should be focusing on. I want to show you how you can potentially miss the boat by worrying too much about what your competitors are doing rather than perfecting what it is that you bring to the table.
Let’s face it, if you’re in business today, it’s likely that you have competition. Only in extremely rare cases does there exist a scenario (product or service) that is so unique, no one else is doing it, has done it before or could not create something similar. That said, if you want to be successful in business and an effective business owner, you’ve got to figure out a way to deal with the competition and keep your wits about you while remaining diligent to your mission and goals. I’m not saying that you should be oblivious to your competition. However, I am saying that you should be aware of competitors and handle them appropriately.
Dealing with the competition can be relatively easy when you spend more time focusing on how your brand is different than everyone elses. I would like to offer you a few ways to discover and uncover your unique-ness when it comes to who you are and what you do. If you master the following 3 areas, the competition will not be a factor…or at least not as much.
1. Identify your sizzle sauce.
Your sizzle sauce is the flavor that you bring to a particular problem, situation or scenario. In essence your sizzle sauce is how you do what you do for your clienmts. Figuring out how your brand is different than others is going to give you a different spin and set you aside from your competition.
Your sizzle sauce enables you to position your process as unique because you are articulating the steps you take to get the job done. Of course your steps are not the same as your competitors. Therefore your job is to clearly define how your steps are more productive and effective than other possible processes that your client might encounter.
Finally your sizzle sauce helps you to define your differential component which is your “unique sales proposition” (USP). The USP directly reflects key selling features of your products and services that make you different from the competition. For example in a world of competing air lines, they all fly planes and get your from point a to point b. However, some air lines sell they are customer friendly, some sell they have comfortable seats, some sell they offer free checked bags. Regardless of the fact they all use airplanes to offer you transportation to your destination, they each are selling unique features in hopes of selling you a ticket.
Using the example above, make sure that you are able to clearly describe all of your unique sizzling factors that make your offerings stand out from that of your competition.
2. Promote your Value added component.
Everyone likes a little something extra, a bonus or something free. With that said, you must promote a little something with added value that offers a wow to the customer on top of what you are selling. This added value component should stack on the value for the consumer and make them feel as if your company is by far, their preferred choice.
Why is it important to add value? Simply because it keeps your customers coming back again and again. Everyone knows the best way to grow your revenue is to sell more stuff to repeat customers. And, the best way to ensure that your customers continue doing business with you is that you offer them valable experiences that they can’t find any place else.
If your customers are wowed by the brand experience that you offer, they are less likely to be concerned with window shopping with your competitors.
3. Create Packaging and Delivery that Supersedes the rest.
Your packaging is how you put it all together in a presentation that makes the prospective buyer eager to purchase or learn more about whatever it is you’re offering. Think of your “packaging” as your menu of products and services and your “delivery” as how you present those services. For example; if you drive up to a restaurant that is clean and well decorated you’re more likely to want to dine there. If the menu contains items with great pictures and descriptions that look appealing and appetizing you are more likely to order something to eat rather than leave. On the contrary, if you see a restaurant that looks unclean and poorly maintained, chances are you will not go in to inquire about the food. That is unless you’re desperate or curious. If you happen to take your chances and find out the food is decent, you might or might not want to dine there again depending upon your total experience. The point is, most people want to have their purchases presented to them in an appealing manner. Your ideal clients want to have an experience to remember and it starts with how you present your offerings to them.
Curb appeal has it’s place and presenting your customers with your offerings in a way that gives them a superior experience will be worth your weight in gold when it comes to satisfying the buyer and keeping them coming back for more.
Of course in order to do a great job at packaging and delivery, when it comes to your products and services that means you must really know WHO your ideal clients are and WHAT they will respond to and what they won’t. If you know your target market inside and out, it will be easy for you to present them with items that they are eager to buy.
Finally, if you master the art of presenting your ideal customers with items that are well packaged and delivered well, you won’t have to worry about the competition because your clients will be so pleased they will see you as the only option to buy from.
If you pay attention to the above criteria, you will have a better handle on dealing with your competition and setting yourself apart.
Here’s your assignment:
Answer these 3 questions.
- What is the sizzle sauce (wow factor) that your offer your ideal clients?
- How do you bring tons of value to your clients/target market and your industry?
- In what ways do you package and deliver your products and services that is different from that of your competitors?
After you answer these questions, you will have a better handle on how to position your brand or company as well as how to deal with your competition.
Now I want to hear from you. In what ways have you set yourself, your brand and/or your company apart from the competition? What has worked well for you?
Leave me a comment below. Let’s discuss the competition.
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Lori A. Manns is an award-winning, marketing, sales coach and business strategist who works with small business owners to help them elevate their brand, get more clients and grow revenue. Lori A. Manns is CEO of Quality Media Consultant Group and founder of the Trailblazer Business Academy™ where advancing entrepreneurs go to learn business growth strategies the soulful way. Lori is also the creator of Sponsorship Sales Secrets System; ™ that shows you how to get more sponsors and sales for your business, guaranteed. To purchase consulting services on marketing, advertising or sales and, learn how to increase your revenue and grow your business; please visit the small business solutions page on www.qualitymediaconsultants.com.