28 June 2017

5 Simple Tips in how to find your Point of Difference.

Business

Ask yourself, do you think you stand out from your competition? Every business owner likes to think they offer something unique, but the truth is most business owners don’t have a USP that creates a Point of Difference for their business.

Yes, I know …you give good service and your prices may be cheaper. But is that enough? I’ve heard it time and time again. You may not realise that your competition is saying the same thing and quite frankly your customers have the right to expect it. Unfortunately, most retailers actually give very poor service. I experience this almost on a daily basis. I often think to myself, if only your manager knew how the staff member treated the customer, their job would be on the line.

I read recently, a number of major Australian retailers were asked the question “Do you know what is the unique point of difference in your business?”. 33% responded that it was service…now, how can it be unique if 1/3 of them are offering it?

If you want a Point of Difference that works, here are 5 tips on how to identify the point of difference in your business:

1. Make the Point of Difference relevant to your customers: There’s no point in offering something your customer doesn’t need or want.

2. Keep the Point of Difference message simple: Most times you don’t have to create anything new. Having a point of difference could be as simple as explaining the process of how you do your job. Remember, most people don’t do this. By explaining in detail the process in how you complete the job including the results that could be gained – it maybe enough to win the customer.

3. Think outside the square when developing your Point of Difference: If you are thinking of a guarantee for example, think about a guarantee that no other retailer is offering. Think about an offer that sounds almost too good to be true. By offering a unique offer, it makes it hard for your competition to copy you and more importantly think you are crazy for even offering it. These approaches implemented correctly can be very rewarding.

4. Your Point of Difference can be niche: Historically, most businesses action there marketing on areas around their business, basing it on the fact they are the only person offering that product or service in that area. The internet now means you are competing with everyone…it also means you can play your game in the wider world. Rather than being one of many general IT providers in your area why not be the world’s leading authority on cloud-based backup systems? Being the best at something can sometimes be a case of carving a niche just for you. Who says you have to be a generalist? Why not be an authority on a smaller area? Is there an area of your industry you are particularly passionate and knowledgeable about?

5. Satisfaction is important: Every day when a customer chooses to buy, the customer carries risk. If a business chooses to remove the customer risk, you are so much closer to closing the sale. When developing a Point of Difference, think about ways of reducing or even eliminating the consumer risk. It makes the purchase for the consumer so much easier and memorable.

Summing up, I have just given you a few pointers in helping you develop your own Point of Difference. See how you go.

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