How to Differentiate in High-Skill Industries
They say that there is
no better compliment that you can get from a person than being told that you
are different in a good way. Being different as an entrepreneur is very important for
competition because it means that you are offering something that your
customers can’t get from somewhere else. It also means that you are winning
your customers at an affordable price and thereby boosting your profitability.
There are numerous methods that you can use to differentiate yourself from
other people, and you will just need to look for the most effective one. Here
are some differentiation tips you can consider for your business that will help
stand out from your competitors.
1. Product or Service Differentiation
Product differentiation is one of the diversities that you can include in your
business whereby your products differ from others. This differentiation is
quite visible unlike most other tactics because you can show your physical
products through advertising. Most entrepreneurs usually focus on this method
because they know consumers are usually thrilled by something new or different
in the market. However, product differentiation tends to work for a short
period of time due to customers quickly becoming accustomed to the “newness” of
your product, and competitors swooping in to get a piece of the pie. You can
overcome this challenge by patenting your secret idea and ensuring that it is
working efficiently at all times.
2. Service Differentiation
Service differentiation can be in the form of customer service, training, order
processing and all other services you can offer in your business. If you offer
services rather than products, then you can also differentiate your services to
stand out from other providers of the same service. These may sound like
non-issues in business, but other people such as Dr. Farrior are using
service differentiation to ensure that their clients get unparalleled services.
He uses SEO to make his website more visible, and any person who is looking for
a plastic
surgeon in Tampa will find him easily
and thereon learn more about his services. Everyone wants to be treated in a
special way when they visit your business, and if you can manage this
consistently, customers will prefer you over your competitors.
3. Distribution Differentiation
How easily and speedily can your customers get the items or the services they
need? This is a very effective way of differentiating yourself from your
competitors, and it involves the availability of the products, ability to access
the service or product and simplicity of the ordering or booking process. In
this case, you must ensure you have a better distribution channel than your
competitors because not every client will be happy with any delay or complexity
of your processes. For instance, if you are a plastic surgeon in Tampa and your
contact details are not available on your online platforms, or you take so long
to answer calls, or you always tell your clients to hold or wait on the line
for too long, they will move on to the next available surgeon. Also, if a
client orders a product and you deliver it five days past the delivery date you
gave, they will be dissatisfied and likely never to buy from you again.
4. Price Differentiation
While price differentiation tends to be one of the most successful strategies
in business, you need to be very careful to avoid creating unhealthy price wars
with your competitors. In this case, you can consider segmentation of products
and services because customers are different and they all have different prices
that they are willing to pay for your products or services. Every segment
should be priced differently so that every customer can buy based on their
ability and willingness. You must always consider value, the timing of your
sale, and also give allowance for negotiation. Those who are willing to buy at
the first price you give will pay while others will negotiate, and as long you
have set a minimum price, you will never sell at a loss.
5. Relationship Differentiation
How you interact with your clients is an important aspect of a successful
business. The seller-customer relationship is very important because it makes it easy to
approach each other with respect and be relaxed when asking for anything. Be
different from competitors by being competent, reliable, credible, respectful
and responsive. If a client is looking for a plastic surgeon in Tampa and they
can’t see these qualities in your practice, they will prefer going to your
competitors.
Differentiation is very important in all industries because the competition is
all over. Be different in all the ways above, and you will stand out.