What’s your competitive advantage? You know, the reason we should buy from you. The reason you’re not really like every other business. What makes you different. Customers want to know what the advantage to buying from you vs. your competition is. They want to know your own personal advantage.
What’s your Competitive Advantage?
Every business starts off thinking that they have “a better mouse trap” and that customers buy from you and not your competition. Eventually they realize that business isn’t that easy. You have to earn customers by giving them better reasons to work with you, and giving them value they can understand. Sometimes it’s a better price. (Lots of business get fooled into thinking that price is the only way to compete. They’re wrong. Have you ever bought a $5 Latte from Starbucks? Their competitive advantage is working for them!) Sometimes its location. One of the easiest to understand is product quality. But in any of these cases, it’s marketing’s job to communicate your competitive advantage so consumers know about it and know they should buy from you.
Marketing and your Competitive Advantage
Marketing is the way your business communicates with the world. There are lots of marketing tools (newspaper advertising, TV ads, social media, billboards, skywriting…) but you’ll be wasting your advertising dollars if you don’t take the time to understand and develop your competitive advantage: what makes you unique.
Competitive Advantage has to be more than a USP
Marketing has a term for what makes you unique: USP (unique selling proposition). Being unique is nice. But it won’t get you customers or sales. There are lots of products that are so unique…that they’re weird, or terrible, or silly. They’re unique because no one else would try to sell them, and you wouldn’t want to buy they. So just being unique doesn’t give you an “edge.” You only gain a competitive advantage when your USP is something that’s desirable to consumers. Like Starbucks flavor (its too strong for some, but not for lots of coffee drinkers). Like the design of iPhones, iPods, iPads, and the entire Apple product line. Like the look and performance of a Ferrari.
Do you have a competitive advantage?
Right now, you may doubt it. If sales are disappointing, you may be searching for one. But it’s not impossible to find. That’s why successful businesses succeed. They’re found “it.” Looking for your own competitive advantage? We help lots of businesses find one, for free. Then we help them communicate it. Why not call for a free 15-minute Competitive Advantage coaching session. In Connecticut call 203-655-3920, in New York Call 212-355-6980. Nationwide call 800-862-8896.