Do you think your company has a unique product & offers?Here’s the truth; you probably don’t, and there is nothing wrong about it.Some of the world’s most successful products are not totally new, original or unique. Take the classic example of Google. Google’s founders ’ Larry & Sergey didn’t invent the search engine, yet the one they found out is generating crores of rupees in profits.This is because they differentiated their product from the sea of other search engines over the years.So, if you want to truly differentiate and make your product stand out from the crowd, here are 3 proven tips to help:1. Target Audience: Define your perfect audience
’If you try to appeal to everyone, you will end up appealing to no-one’
Defining and choosing a specific target audience helps you make your product stand out from the rest, as long as you don’t choose the same target audience as your competitors.For example:
- McDonald’s target audience includes students, employees and professionals within the age group of 8 to 45 years, belonging to low & middle-income groups and having an easy-going personality.
- Facebook: The target audience of Facebook has evolved with the company. In the initial years of its operations, Facebook targeted college students of the United States.
|’You don’t grow when you try to make money, you grow when you try to offer the right value to your customers’- Dr. Vivek Bindra (Founder & CEO, BadaBusiness.com)|
Twitter: ’See what’s happening in the world right now’Khan Academy: ’You can learn anything’WeWork: ’Space to elevate your work’These are all recognizable statements from companies that stand out from their competitors in their respective industries for their branding and positioning. Having clarity on what your value proposition is and what makes your business unique will help your customers understand what’s unique about your brand too and make your product stand out.
- Statistics shows that 45% of customers will immediately exclude products that come with additional shipping fees during an initial product search.
- Similarly, other areas that matter includes warranty coverage, fast shipping, and hassle-free exchange & returns.