Go extra mile and step out of busy landscape

TODAY, if you do not stand for something, you run the risk of your price point being your only competitive advantage, and for the majority of businesses it is not sustainable.

Replicating a successful product or service is easy, which means that a new and unique product quickly moves from being extraordinary to being the norm.

Brands need to begin looking at adding an intangible value, rather than replicating functional value. Many brands share the same strengths, but to drive success you have to find a unique competitive advantage.

Consumers love brands that offer extra value. It is no longer a case of customers admiring an advert, and loving the brand. Branding today goes beyond visuals and a social media presence.

There are three fundamentals brands should tick off:

ý Have a clear understanding of your brand; how it lives internally through your staff and culture, and how it is communicated;

ý Know who you are talking to. An in-depth understanding of your target market is essential; and

ý How is your brand differentiated from your competitors?

Jeremy Miller identifies nine main areas of differentiation. They are: market responsiveness, product/service superiority, production efficiency, natural/human resources, market dominance, short-term profit, method of sale, distribution method and technological advantage.

To determine whether your differentiator is clear ask your team – from the receptionist to senior management. If you get different answers, you have a problem.

Differentiation is about attracting and retaining customers. Try and be visionary and build your business towards it. Let it be what focuses your team, and how you compete in the market.

When identifying your differentiator, keep in mind that it should meet three criteria: ý It must be true; ý It must resonate with your customers or target market; and

ý You have to prove it, and demonstrate that it is true. In other words, if you are going to talk the talk, then walk the walk.

A unique differentiator provides impact for your brand. It helps you stand out. Take the time to find out what differentiates your brand. Go the extra mile – it will be worth the effort when you step out of the crowded and competitive landscape.