Stop Creating Ideas For Your Competitors.
You have a great idea, and as a team, you curate the idea into reality - this takes time, energy and a lot of teamwork. However, you are concerned that your competitors will have the same product, or worse, they have already come up with one.
The honest truth is that your competitors will not buy your product or service.
Rather than creating ideas that your competitors will steal, position yourself or your company as independent, unique, and one-of-a-kind. No matter how many people like your work on social media platforms like Instagram and Facebook, if your website - which showcases your work - is not being approached, how will you be able to stand out?
Here are some pointers:
Know Your Audience.
In order to create products and services that would be most effective for your audience, it is important to understand who they are and what they are looking for. This can be accomplished through research and brand strategy.
Research plays an essential role in streamlining your target audience, and it is crucial to gain a clear understanding of the specific needs and demands of that audience, as well as current market trends and conditions, to avoid creating generic content that will be overlooked.
Certain questions that identify pain points may be especially effective to ask your company and your customers. These questions include:
What is your company’s biggest obstacle to growth?
What might account for any recent business or customer losses?
What matters the most to your customers?
Can you describe your customer journey and all the touchpoints?
By understanding the customer's perspective, such as Simon Sinek's The Golden Circle, which communicates the key message of your 'why', ‘how’ and ‘what’, and thinking beyond the practical, rational benefits of the products and services that you offer would give your customers a more meaningful reason to support your business.
Act With Purpose.
Brand purpose is important for empowering your narrative, story, and goals. It enables you to remember who you are as a brand, and it helps you avoid competing with other brands. Additionally, it helps you identify your USP, which will help sell your product or service to a niche market that is uniquely attracted to what you offer.
If your USP is substantial to your brand, then you are likely on the path of selling to potential clients instead of competitors. You should also include attributes or benefits that customers will strongly and uniquely associate with when making a purchase decision. Finally, storytelling can help position yourself as part of someone's lifestyle and not just another stand-alone product or service.
Be Clear About Your Positioning.
Imagine the kind of client you would like - a high-end luxury brand or boutique start-up. No matter the level of content should also match the client and similar brands quality-wise. Go beyond the limit.
Target marketing and brand positioning are two of the most important aspects of any business because it allows you to target specific audiences that are interested in what you're selling, as well as positioning your brand as something more than just another company in the same industry.
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