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How To Differentiate Your Business From Your Competitors

Can your business stand out like the animatronic unicorn in the Squatty Potty video?

Now days it’s imperative more than ever that you build your business to really stand out from the pack like a magical unicorn.

The trick is to establish a USP (unique selling proposition) that truly differentiates your product(s) or service(s) from your competitors.

Obviously it’s a lot easier said than done.

But one thing is certain and it’s when you figure this part out of your business it’s like a spotlight from heaven suddenly shines down on you for the world to see.

However as everything gets more and more saturated figuring how to be different becomes increasingly more difficult to achieve.

Sometimes being the ugly duckling has it’s advantages.

Contrary to popular belief ugly can be a beautiful thing.  Just ask the companies who have massive success by pivoting in an uncharted direction that took a lot of risk similar to when Columbus set sale on the ocean’s blue in search of undiscovered land.

Selling the dream…

Here’s a few ways you can set the bar and put your business at a whole other level.  Once you figure out how you can differentiate yourself from your competitors the sooner you will see just how effective it can be in creating more sales.

Offer exceptional service

This is the most common method, however it’s also typically the normal route most service based businesses go.  The kick here is that if there’s already a competitor in your industry with that claim to fame then you’re SOL and you better figure out another way.

Charge differently

This can be applied in nearly infinite ways, you just need to put on your thinking cap and devise a plan.  How often have you discovered a product or service with several companies to choose from and you chose the one who best fit your budget?  This is a great way to carve out your own piece of the pie.

Reduce or remove any barriers

If you operate a business with perceived risk you can help reduce or eliminate it by offering a no questions asked guaranteed refund or setting up a trial offer or even a better allow them to use the service and pay nothing up front.

Own a specific attribute

This could mean you’re the easiest, cheapest, fastest, or whatever else you can think of as long as it means something to the consumer and has a strong association with your brand.

Be an innovator in your industry

Be the first to market, top seller, biggest, best, etc. in your niche.

Specialize in one specific niche or skill

You can set your business apart from all others if you can specialize in a completely unique way.  However it’s becoming increasingly harder and harder to use this one these days as it’s been quite common for most businesses to go this route.  You really have to get more creative to find a way to stand out.

Origin story

This all comes down to your consumers being able to relate and connect on a level that’s way more personal than your competitors.  I’m sure there’s a few businesses out there you connect with because of some story behind their company.

Opposites attract

If everyone in your industry is going one way, try to figure out a way to go completely in the opposite direction to really set yourself apart from the pack.

Create a persona or add a celebrity

You see it all the time, however you may not recognize it because it’s become such common place.  But almost every successful business has some sort of mascot or personality.  Think about Geico with the Gecko or how about Aflac with the duck, I could go on and on but you get the picture.

It’s not easy to differentiate your business from your competitors, but when you do you’ll reap the rewards of all that hard work.

In the comments below, please let me know how you’re differentiating your business from your competitors.

 

 

 

How to Growth Hack Your Way to Recurring Revenue

I’m about to give you maybe the most valuable piece of content you’ll read all year.

No joke!

Pick a niche, any niche and let’s roll!

In a nutshell, you’ll be creating an irresistible front-end offer utilizing the free plus ship model to drive leads and sales.

Once the traffic hits your front-end offer they will be presented with a “bump” offer to add a monthly newsletter for just $4.99/mo.

If they take it with your initial front-end offer then you’ve killed two birds with one stone which is as good as it gets.

If they don’t take it with your front-end offer then they’ll be represented with it again as an up-sell on the very next page in your sales funnel.

If they pass on it at that point you will follow-up through emails that are highly focused on the features and benefits of your monthly newsletter and will hopefully capture them as subscribers down the road.

The trick to this entire process is being able to find the perfect front-end offer that converts well enough to either break even on the amount of money you’re paying to drive traffic to your sales funnel or of course to make a profit.

The key here is to find a product that fits your niche to a “T” for as low a cost as possible.

This usually achieved best by looking for your product at AliExpress.com.

Once you find your super sweet and totally irresistible front-end offer you’re now in business.

Don’t worry about creating your first monthly newsletter until you’ve found a high converting front-end offer and until someone or someones have actually signed-up for the monthly newsletter.

When both of these criteria are met, then you can focus your efforts on developing the first issue of your newsletter.

Now your newsletter does not have to be 100% unique.

There’s no need to create all the content yourself or from scratch to make this worth the $4.99/mo.

But rather curate the content to A) make your work easier and B) give people exactly what they want.

This newsletter should contain 5-10 topics in the niche that’s of some sort of value to the reader.

The newsletter will usually be about 2-3 pages in length and should have a nice professional look and feel to it in PDF format.

The retention rate on this type of subscription model is so high due to the fact that the price point is so low.

It’s just like your Netflix subscription of $7.99, now $9.99, where you don’t think twice about cancelling it ever if you never use it.

Also by providing a low monthly fee, the barrier to entry is reduced to almost no barrier since it’s so ridiculously reasonable.

Another trick of the trade to retain subscribers is tease upcoming content and/or to offer free products or giveaways once a month to your subscriber base.

Once you get this sales funnel dialed in it can easily make you more and more money each month as you’ll be adding more and more subscribers to your newsletter than you’ll be losing.

This is truly a sustainable online business model that doesn’t require a lot of work and can give you the laptop lifestyle you maybe seeking.

So will you be using this monthly newsletter business model to diversify your income stream?

Unique Value Proposition: How Are Your Products or Services Different From Your Competitors?

If you want your business to dominate your marketplace and your competitors you must have a unique value proposition or UVP.

Did you know that the biggest reason businesses don’t succeed is usually because they’re products or services they offer are just not that different from their competitors?

When you don’t have a UVP, your customers just can’t differentiate what your business has to offer over its competitors thus slowing your growth and/or having your business fail.

Your UVP is everything especially if you’re entering a highly competitive niche where there’s already some proven businesses with solid track records.  Without a UVP there’s just no reason for people to rush to your product or services and will not create any sort of buzz or word of mouth.

However the great thing is you don’t have to re-invent the wheel either, you don’t need to be the next Steve Jobs, Bill Gates, Elon Musk, etc. to build the next superior technology.  And you definitely don’t have to offer your products or services cheaper than your competitors.  In fact this may be the biggest mistake you can make.

Instead you need to figure out one or two things that will separate you from your competitors and turn your prospects into raving customers.

Here’s a few strategies that allow companies to create buzz and grow so fast.

  1. Deliver Superior Service
  2. Change How You Charge
  3. Reduce Risk

All of these strategies listed above have one commonality and that is they reduce or eliminate the customer or client pain points.

Remember you don’t need superior technology to compete in the marketplace against your competitors.  But what you can do is create a better solution than what your competitors are offering by researching how your competitors conduct business and what pain points their customers and clients are experiencing.

So the first takeaway from this blog post is to take a look at your business and ask yourself is your product or service different from your competitors.  And if it’s not so different then figure out a way to be different and stand out from your competition!

Think about ways you can make your products or services have a UVP or unique value proposition.

I’ll leave you with this question…How will you differentiate your business from its competitors?