Brand differentiation is most important to survive a cut-throat competitive market. Today, successful brands are doing many things to outline their distinction and differentiation in the niche. These brands underline the importance of branding in today’s markets. They will never say what worked for them, but they understand that branding is more than just a 4-color imprint flyer, business card or eye-catching website. In short, branding is beyond what is visible by the naked eye.
A consumer may not see the difference at the first instant, but they will find it and may change their buying decision forever. For creating that kind of differentiation and triggering a buying decision, every brand should answer the three following questions. What is the purpose of your business? Who is your target audience? How can you offer a customer advantage? After analyzing the answers, here is how brands can work out their strategy of differentiation. Whether it is a business that sells technology or a food business, these factors will work for brands of all types.
Become A Buyer By Thinking Like One
If you are starting a production company or any other business, try to get into the mind of a buyer to understand their expectations. A buyer is ready to spend on a product that convinces them why they should buy it. For e.g. – LUSH ( handmade cosmetic brand) tries to create this differentiation by communicating that all ingredients used in their cosmetics are hand-picked and tested to give good results. They try to make buyers understand that they really care about their beauty and well-being.
Set Different Prices
If you want the maximize brand differentiation for your business, the best way to do this is to set your product prices at rates that are entirely different from your competitors. This does not necessarily mean you have to price your products cheaper. In fact, it could be the exact opposite. Whether you choose to differentiate your brand as one with luxury, high-end price level products or cheaper, consumer-friendly goods, be sure to set different prices than your competitors to ensure you maximize your business’ brand differentiation.
Easily Available Products And Services
Customers always prefer products or services that are readily available. Indeed, proximity and convenient availability are two very important considerations for any buyer. If you are starting a courier company, try to generate a feeling that you are ready to serve a customer any time. Today, with the e-commerce gathering momentum, many brands have successfully sculpted the image of “Available at your convenience 24/7”.
Communicate Your Brand Values
Various studies suggest that people are not loyal to brands, but they are loyal to values that the brands represent. Today, cosmetic and lifestyle brands try to create an image that their products are cruelty-free and follow eco-friendly production methods. They add a guarantee card or disclaimer to support their claims. Similarly, there are brands that suggest that with each purchase, they are committed to donate certain amount to charities. Some companies even create famous brand characters to help foster loyalty. This type of value claims will make a customer understand that they are dealing with a “brand with a human touch”.
Hide A Wow Factor With Purchases
Every customer expects more than just a product. However, freebies and discounts are popular marketing gimmicks that have lost their charm. You can hide a “wow factor” with each purchase to pique a customers interest. You can surprise them by giving small gifts (that are not previously advertised), update their privilege status or send free coupons at home. If that all seems to be a big deal, try to send them personalized mails or greetings acknowledging their contribution in your business.
Personalize The Buying Experience
Today, buyers are highly aware of their expectation from products. Very often, marketers practice a “one size fits all” approach, which fails to work after a period of time. It is very important to make a customer believe that you value their expectations for a product and will satisfy them, just as Chuck E Cheese has. A good customer service experience and brilliant personalization options are two factors to make any more customer comfortable.
Remember, no business is perfect and all successful brands have learned from their past mistakes. To execute proper brand differentiation, some trial and error might be required. However, once you connect with the audience, the return pays dividends to the company.
Image from http://www.mybizhub.co.uk/branding/make-brand-stand