How to differentiate your business from the competition

Businesses talk a lot about the need to be innovative, disruptive or unique. However, in many cases this is easier said than done, especially for organisations working in particularly competitive industries.

Could a focus on premium products attract new customers?

Despite these challenges, it’s essential that businesses are able to differentiate themselves from their competitors. The core offering doesn’t have to change either, as long as these organisations are able to provide some element of their service that’s unique in comparison to their rivals. Whether it’s a focus on premium products or previously unobtainable imports, it’s essential that this is communicated in an effective B2C marketing strategy.

New study finds room for individuality

The need for a unique value proposition was illustrated by a recent Roy Morgan Research survey which focused on the country’s liquor stores. While none of the respondents reported any problems with the stores they frequent, they also noted there was nothing particularly special about the one they visit most.

According to Roy Morgan Research, the most popular response its survey on the subject was that ‘all liquor stores are about the same’. The organisation found that almost half (47 per cent) indicated this was the case. While it’s not the worst review a business could receive, it’s rather worrying that consumers can’t find a difference between these competing stores.

Like other retailers, liquor stores aren’t limited in their ability to differentiate themselves from the crowd. In fact, the rise of premium alcohol options such as craft beer means liquor stores are in the perfect position to begin crafting a unique identity. According to research from IBISWorld, the craft beer sector of the alcohol industry in Australia is worth almost $400 billion and is growing at a rate of nearly 10 per cent each year.

By aligning a business with these or other changing trends in the content they send to mailing list recipients, marketers can begin to help their business stand out from the crowd.

Changing an industry with B2C marketing

While businesses don’t have to change a whole industry to make themselves unique, some are doing just that. For better or for worse, Uber has become the most talked about taxi company the world over, despite the fact they don’t own a single taxi vehicle.

Along with pioneering a unique way to operate a transport business, the company has also directed some of the more inventive marketing campaigns in recent years. Making the most of its resources as a transport provider, Uber has ensured that unique and interesting vehicles have been the centre of these campaigns, allowing customers to get up close and personal with vehicles they could previously only dream about. Have any other taxi companies ever picked you up in a Delorean?

To coincide with the date Marty McFly travels to in Back to the Future 2, Uber offered its New Zealand customers the opportunity to hitch a ride in a Delorean that was a replica of the one seen in the film. Unforgettable experiences such as this make it much harder to claim that all competitors in the taxi industry are “about the same”.

Uber is changing what it means to provide a taxi service.
Uber is changing what it means to provide a taxi service.

Embrace an expanding audience

Australia is home to a range of people and cultures, and this diversity is increasing thanks to its status as a desirable tourism destination. According to the Australian Bureau of Statistics, the value of the country’s tourism industry rose by 3 per cent to $3.8 billion towards the end of last year.

By acknowledging that the demographics of an audience are changing, marketers can better prepare content sent to mailing lists to reflect a greater variety of people.

To find about more about how you can expand your reach with a mailing list, contact Lead Lists today.