By A differentiator is a characteristic of your firm that separates you from key competitors and gives you a perceived advantage in the eyes of your target audience.
Technology has greatly reduced the barriers to starting a business, meaning you can only expect the competition to become even fiercer.
If there’s nothing differentiating what you and your competitors offer, buyers will only focus on price. From there, things can only go downhill as prices race to the bottom and profit margins become vanishingly small.
Brand positioning is what saves you from looking — and hence having to charge — like everyone else. The way your business differs from others tells potential buyers how and why you’re the right choice for them.
The goal of brand positioning is to create a unique impression in a potential buyer’s mind so that the buyer associates something specific and desirable with your brand that is different from your competitors.
Differentiating your brand doesn’t have to be complex, and the benefits can be amazing. Stop shrinking your profit margins to compete. Instead create a unique, compelling and credible offer for your buyers. Stand out from the crowd!
How to Evaluate a Differentiator
To be successful, a differentiator must meet three important criteria:
- It must be true. You can’t simply make it up.
- It must be important to potential clients. If not, what’s the point?
- It must be provable. If you can’t demonstrate that it is true, it won’t be believed.
The sad reality is that most differentiators fail on at least two of these criteria. But take heart. There are many successful differentiators.
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