Standing Out in an Ever-Increasingly Competitive Marketplace
This article is dedicated to companies that are in overly saturated markets of any kind – the same principles apply to products and services alike.
Business owners often find themselves struggling with how they are different, and many eventually conclude (rightly), that there is NO difference. From there, the typical responses are either/or getting discouraged, doing nothing, or most often just resorting to the same old traditional marketing and advertising staples, thinking that because the competition does it, it must work.
None of these approaches will be productive, and I don’t support any of them as a healthy course of action. Just because you may not be different currently does not mean that you cannot become different. How do you do this? The answers are simple:
Restructure your company’s offerings so you truly are different
Use marketing, PR, advertising and design in a clever way to differentiate your brand from everyone else’s
If you have a company (and industry) that offers a wide array of services, drop a few of the services you’re not widely known for, and don’t largely excel at. You may need to enlist the aide of a third party resource to give you the harsh truth about the good and the bad. By focusing in where your competitors aren’t, you will be empowered to create an ideal focal point to go after the “expert” designation within that arena, thereby creating a true “difference” between you and your competitors.
On the other hand, if your company only offers a small selection of specialized services, you may want to consider adding a special new division or service that is complimentary to your existing menu, or as an added value to your clients. By doing this, you will be seen as a forward thinker and will be recognized as a “one stop shop” or “full service solution.”
No matter which approach, you will likely want to market your new brand identity with a liberal helping of PR and appropriate advertising. People need to know you are a company that understands their needs, and can adapt to them. A newer, more exciting visual brand may be a necessity, depending on your industry and current situation.
In any case, you absolutely want to make it worth your while, by making a splash, and ensure that your target market will now know, beyond a shadow of a doubt, that you are different and deserve their business.