On Monday we addressed the concept of differentiation and how it can drive your business. Today, we offer 5 essential tips to help you start.
1. Test your value statement. That is, do peers and clients agree that it soundly represents you and how they see your business? If so, use it in all your marketing activities. We believe it is best to translate it into a tag line, such as ours, Helping execs and entrepreneurs achieve greater results through a people-centric approach, or, another example is from one of our pharma research companies, Improving profitability through product differentiation. If your value statement is not well formed and perceivable when tested, get help defining and refining how you and your product or service will improve your customer’s condition or situation.
2. Identify and use a target list (prospective buyers/clients) to guide your marketing and relationship building activities. Your target list should include: in-person contacts, phone calls, emails, internet and mail options as a means to meet and maintain target and key relationships. Attending business meetings and social events is also a good way to meet future customers.
3. Identify the microtargets within your broader target list. Work to understand why they buy (one good way to start is to ask friends who represent your microtarget group or do consumer buying research on the internet).
4. Develop a strategy from the above options to identify which ones are best suited for use with each micro-target group.
5. Then, systematically take action (for example, 3 new contacts and 3 relationship building activities per week).
Starting by differentiating yourself/your service/your brand will build a relationship platform from which clients will get to know you and start buying your products or services. Prospective buyers will begin to find you by repute. Client’s coming to you, verses you seeking them out… now that’s differentiation.
Kubica & LaFores 2010
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