Differentiate - Differentiate -Differentiate
It's essential to give your customers good reasons to come to you rather than going somewhere else. You must differentiate with something that matters to your market, product and your customers. You might offer a special line of products, but if that isn't of much interest to those in your target market, it will do little to stimulate business. You must differentiate with something that is not already assumed to be the case. People already expect that your products are of good quality and that your staff delivers friendly service. Every other business claims the same thing - deserved or not! The "expected" does not differentiate your business. You cannot differentiate on price alone. Price is very easy for competitors to match and you'll most likely just implement a discounting strategy that will leave you earning far less profit. It is always best to differentiate with something that truly makes your business unique. If you need help, ask your customers for suggestions. What products or services they would like to see you add or offer? What do they think you already do better or differently that might be a good point of differentiation? Find out who your competitors are, what they are offering and what their unique selling point (USP) is. This will identify the areas you need to compete in, as well as giving you a platform for differentiating yourself.