How to create a good Point of Difference from your competitors.

Last month I wrote a blog  that explained what an ‘us too’ business is, and why it is more likely to fail in today’s competitive market. ‘Us too’ businesses are ones which have nothing to set themselves apart from their competitors – or, to use today’s business language, no point of difference. 

If you’re not sure whether you have an ‘us too’ business – or don’t understand why this can be a disadvantage for your business – have a look at my earlier article .  If you have an ‘us too’ business, my tips below will help you get out of this rut. By having a codified and clear Point(s) of Difference, your company will be more likely to prosper. Also, importantly, any potential buyer for your business will place value on the fact that it is not just another carbon copy. 

What should a Point of Difference be? 

1. Unique – We used to talk about Unique Selling Points; whilst this term is now often seen as outdated, a strong emphasis on what makes your business unusual is still wanted.
2. An exciting attribute for your target market – There is no point having a Point of Difference that is irrelevant to your target market. For example, selling discounted kids’ vitamins alongside over 60s vitamin tablets as a Point of Difference would probably be an unexciting prospect to over 60s, who are unlikely to be buying for children as well. Instead, perhaps offering discounted his and her over 60s packs would be appealing.
3. Something that people will talk about – There is no point choosing something that will disinterest people.
4. Something that will not be easily copied – If it can be easily copied, then it won’t stay a Point of Difference for very long!

How do I know what makes my business stand out?

It is often said that in Britain we are taught to underplay our successes. I find this true for some of my clients within their business lives. I see thriving businesses, and yet the owner is unable to tell me what makes their business stand out.

If this is a difficult question for you to answer, perhaps instead try tackling the less daunting and more modest question of: ‘Why do your customers keep coming back?’ Many of my clients find this easier to answer and provide a response straight away. The chances are, the reason you have just identified is likely to be your Point of Difference.

If you don’t know why your clients keep coming back – and I have come across companies for which this is true – ask them!  They may not give you a straight answer, or you may not know the right questions to ask, so it is often helpful to commission an experienced researcher, marketer or business expert to conduct in-depth client interviews on your behalf.

Having understood why your clients use you time and again, you now need to exploit this; tailor your marketing to communicate what it is that your clients value that is different from your competition.

If you need more help developing what your Point of Difference is (or are), I have helped many businesses identify Points of Difference for their business and turn around their fortunes in the process.

Top tip: I always say uniqueness comes from one of seven areas: quality, price, service, delivery, speed, convenience and experience. 

What not to do!

Whilst some multi-billion pound companies get away with cheesy catch lines to summarize their Points of Difference, such as McDonalds: ‘I’m lovin’ it’, and Loreal: ‘You’re worth it’ (both of which aim to communicate an emotional reward delivered by the brands), I often advise my clients to steer clear from things such as that. You don’t need to go overboard, a simple statement of your Point of Difference will not go amiss: ‘Trader Pete – locally sourced produce’.

Don’t pick a Point of Difference that is similar to another in your area. Whilst it is near impossible to have a completely radical and uncopied Point of Difference (hence USPs falling out of favour), having one similar to local competition is something to be avoided. If you state your difference as being great customer service, but so does your immediate competitor, there is no incentive for consumers to pick you over your rival. Having great customer service is too generic, you need to tell your prospective customers what it is about your customer service that stands out from the crowd and will give them a better customer experience. 

What to do…

Get to the point! If you are the best value dog-cleaning business within your postcode, then say it; nothing will resonate with the consumer better than honesty and being specific.

Ensure that all your staff are aware of your Point of Difference, are on board with it and that they represent the ethos of your uniqueness. For example, if you are a hairdresser whose Point of Difference is that all staff have been trained in hair colour, cutting, treatments and extensions, ensure that this is true. If current staff do not comply with these standards, then you as the owner should put it on yourself to ensure they get relevant training.

My clients benefit from a whole range of supporting materials to help them in all areas of their business*, including marketing.  If you’d like to know more about the business areas in which I can help you, call 01732 453 464.

Value Builder exclusive offer

Value Builder is an extraordinarily powerful tool to give business owners the insights they need to meet their business and personal goals, so I am personally committed to making it available to entrepreneurs in Kent, Sussex and Surrey, in the area indicated in the map.

Value Builder normally costs business owners £500.  However, I am delighted to offer it to selected businesses free of charge – and I am also pleased to offer the follow up 90-minute 121 consultation to go through your results at my expense.

Why?  Well, I want businesses to have the very best chance to grow and develop, delivering the results business owners and their families deserve.

Secondly, I want to see businesses thrive and recruit additional team members to further grow the business and help to boost the local economy.

The full list of towns where I can provide this service is below, but if you don’t see your location, give me a call or drop me an email I will let you know if I can help you.  If I can’t, I’ll put you in touch with one of my colleagues who helps businesses in your area.

To apply for your FREE Value Builder report and business strategy review

Call 01732 453 464

Or email julianweekes@actioncoach.com

I help business owners in the following towns:

Don’t see your location in the list? Drop me a line and I’ll let you know if I can help you – or put you in touch with one who my colleagues who works with business owners in your area.

My clients benefit from supporting material and coaching in the following business areas:

Looking for support in one of these key business areas?

Call 01732 453 464

Or email julianweekes@actioncoach.com