Do you know what differentiates you from the competition? Can you clearly explain what does? If not, you’re not alone.
In a recent survey I did, only 10% of people said they could clearly explain what differentiates them from the competition. Two-thirds of people said they kind of know what differentiates them and 22% don’t even know who their competitors are.
It’s essential to know and understand your competition. After all, we don’t operate our businesses in a vacuum. You can bet that your ideal clients know who your competitors are. Shouldn’t you?
Remember also that there are three pieces to solving the Niche Puzzle: WHO (target market), WHAT (solution you provide) and WHY (why should people work with you). You have to be able to clearly explain all three pieces when you choose your niche and craft your Magical Marketing Message.
But, having said that…..
I’m going to challenge you to shift your perspective about your competition in three important ways.
1. Find your voice
Even if you and your competitors do very similar things, you will have your own twist on things. You might have a different approach, formula, message or perspective. Or you might just explain things differently. It’s amazing how two people can say the same thing and the message resonates with different people in different ways.
So part of what you need to do to differentiate yourself is to create your own voice or “language”. This is part of building your brand. Find your own words to describe what you do and the process you use. Don’t just imitate, innovate!
2. Learn from your competitors
It’s important to follow your competitors because there is a lot you can learn from them. Take a look at their approach, offerings and marketing. What do you like? What don’t you like? What can you do differently or better?
At the same time, don’t allow yourself to get overwhelmed or bogged down by what your competitors are doing. You can sign up for their lists using a different email address so you don’t get distracted. Keep a folder called “good marketing” for subject lines or emails that pique your interest. Create a swipe file for sales pages, articles, landing pages, etc. that you like. You won’t copy their work, but use it for ideas and inspiration.
Stay on top of what they’re doing but don’t get distracted by them.
3. Partner with them
You will be amazed how many of your “competitors” can actually be joint venture partners for you. It has happened to me more than once that I met one of my competitors and they ended up becoming joint venture partners. It’s just a matter of being confident about what you do and shifting your perspective from scarcity to abundance.
There is one caveat to this. You must have a clearly defined niche. When you have a clear niche, e.g. you understand your target market and solution you provide, then the competitive landscape is much smaller. If you’re a jack of all trades, then everyone becomes a competitor. You’ll see how much easier it is to partner with people when you have a clear niche because you serve the same target market but with complementary solutions. And joint ventures are by far the fastest way to build your list!
What are your biggest questions and concerns about your competition? Please share your questions and feedback below.
Great post! These are things all marketeers should be doing- but we often forget. I think of making a chart of my close competition and see what I like and don’t like about what they are doing. Also, list my unique selling point.
This will also help me show how we can JV togethe too. Thanks Cindy!
Fantastic Amy! I’ve realized that so much of what makes us unique is just our own personal style and delivery. That’s why creating a powerful marketing message and being consistent with your message and voice is so important. warm wishes, Cindy
Cindy you read my thoughts! I’ve been asking myself (over and over)what differentiates me, or how can I differentiate myself. I know my WHO, still not real clear of my WHAT, and as a result I’m all over the place with my WHY.
Thanks for your words of wisdom. I always love your clarity!
Hi Bonnie,
Thanks for your comment. It is a puzzle and you need to put the pieces together. If your’e clear about your WHO, then think about their main pain points that you can help solve. As for the WHY, what is unique about your approach? Why are you passionate about helping these people? What similar challenges have you overcome that they can benefit from? This is just a taste of the kind of questions you need to ask yourself to arrive at the answer:)
And Bonnie, please keep your eyes out for a special email I’m going to send that will really help you gain more clarity.
Bonnie, I’m better with my what than my who! Though it’s no good having a what with no clear who, I realise. This is my month for finally figuring it out, pulling it all together ang making it happen! Thanks Cindy for your clear guidance and generous sharing of information.
Thank you Sally. It’s great that you’re getting clearer and I’m happy to hear that this is your month to sort it out! Keep your eye out for an email announcing an upcoming webinar I’ll be doing to help you get clearer. warm wishes, Cindy
Hello, Cindy. Thank you for this blog chalked full of good ideas and information. I had never thought of asking or pursuing my competitors as partners. What a new concept and something to think about. Yeah, I guess if they’re just focused on home decor and I’m more focused on room organization, I can see how we could partner up. I’ll have to think about that some more. I know some of my competitors are so territorial that they don’t want to share. So I suppose that tells me not to pursue that relationship. Well, this could be a different kind of networking – listening with different ears to find a good partner. I like how you think. Thank you for your time in reading this message. Happy New Year from Alaska! Take care. Rosella Young, AA-1 Designs, Invest in yourself P.S. The above website only operates in the U.S. Int’l readers please google Longaberger to find one near your area.
Thank you Rosella. I appreciate you sharing that. It is a shift in perspective, but when you make it, you’ll find more possibilities everywhere. The key is finding and communicating what is unique about you. It gives you confidence in yourself and allows you to turn “competitors” into allies.