How does your business stand out?
We all know that overnight success does not happen. Businesses are the same. It takes time and execution to start a business and continue to operate it. It is all about the idea to differentiate the products that are already made. The point is not to compete with the big players, but to find a slice of the market being ignored. If you are starting a coffee shop, do not compete and try to assimilate the big players, such as Starbucks.
3 ways to differentiate from the big players
Pricing: The price of your product should not be close or the same to the major player. The price needs to either be lower or higher by a big percentage. by doing this, you are leaving a statement: we are different.
This will let the customer know that you are different than their number one choice.
Experience: If you are charging a premium price, you will need to provide a premium experience. If you are charging more than Starbucks for a cup of coffee, the customer experience has to be superior than what they receive at Starbucks. From the time the customer steps into the time he/she steps out, the focus should be on the customer at all times. Being consistent with your experience is what is going to separate you from the pack.
Detail: To fulfill this desire you will need to be detailed-oriented to serve your customer. Add benefits, such as convenience to the customer to make your place more appealing. The greater the detail to your service, the more satisfaction to the customer.
To execute on those desires you need to create that upscale experience. That can be challenging and expensive. A customer base that can find fulfillment within your service/product that no other can fill – that is the magic to every successful business.