Your Competition Can Help You Improve Your Branding

Whether intentional or not, everything you do and say, your web site, signage and other visual presentations, the products and services you provide and the attitudes and actions of your employees project an image of what someone can expect when they choose you as their supplier. That’s branding.

Positive or negative, it is what makes you stand out from your competition or simply appear as just another “me too” in the market place.

Most people think branding is important to differentiate you from other sellers in the minds of potential buyers. But that’s not enough of a reason. Your real purpose must be to be seen as the only one that provides a solution to their specific problem!

You already know that it’s important to identify who your ideal clients are and what their specific problems are. But how much attention have you paid to what your competitors offer as a solution and where they fall short?

KNOW YOUR COMPETITION

It’s crucial to know not only what your competitors do, but how you are perceived in relation to them by those in your target market. That requires research. Here are three other good reasons to put in the time and effort to do that research:

More knowledgeable sales and service reps. “What’s the difference between your product and the one I am already using?” How often have you asked this question and received an answer that was not only uninformed but in some cases outright lies. Would you want them as your suppliers? Learn and teach your front line people how to deal with such questions from a base of knowledge, and you will shine in the eyes of your prospects.

Product development and marketing copy that works. To claim to be The Only Solution You’ll Ever Need, your marketing copy should be able to claim that with confidence. Not by doing everything that your competitors do, but by getting at the real core of what is missing out there, you can focus your product and service offering appropriately and honestly claim the spot of the One True Solution.

Collaboration for mutual benefit. Getting to know your competitors through professional organizations and other networking, charitable and social events, allows you to see what each company’s and each individual’s uniqueness truly is, separate from their marketing persona. And each one is unique because of the experience, skills and attitudes inherent in their service, as well as their very specific target market and product and service offerings. This makes room for collaboration, cross referral and joint venture opportunities, all examples of where working together can produce a result greater than the sum of the parts.

Remember – no company is an island. Know your competition and you can identify doors to opportunities that are otherwise invisible and be the one to open them. Ah. My hero.