13 Ways For Your Business To Capture Attention In A Crowded Market
No matter where we look, it seems there’s always information of some sort coming at us. Whether we’re browsing the Web, scrolling through social media, listening to the radio or watching TV, a constant stream of content, news and advertisements is always there.
In a world of 24/7 information flow, it can be difficult to make a lasting impression with a consumer—or even catch their attention in the first place. That’s why we asked the experts at Forbes Coaches Council how to differentiate your company in a saturated market.
1. Understand Your Customers’ Needs And Position Your Brand Around Them
If you can’t differentiate your product or service, you need to work on positioning yourself differently. This comes from a true understanding of your customers’ needs. Do a better job of matching their interests with what it is that you offer. Decide if you want to be the low-cost leader or on upping your price and adding a sweet benefits package. You can also specialize and serve a particular niche. - Kathleen Houlihan, Dream2Career
2. Identify And Target An Underserved Market
Sometimes it is better to identify, connect with and market to an underserved consumer market than to focus completely on a very saturated market. Differentiation is key: Connecting with the voice of the customer by listening and researching their needs, staying ahead of the curve, and rising above competitors are all critical. Where you will find that extra edge is identifying that market white space. - Rosa Vargas, Authentic Resume Branding & Career Coaching
3. Really Be Yourself
No one wants to see another business trying to be a slightly better, more generic version of another. We want fresh, authentic and real. So I encourage businesses and leaders to step out and risk really being yourself. What is quirky, unique and even weird about your offering? What might it feel vulnerable to share that will help others relate to you? Let your humanness shine! - Erin Rocchio, Erin Rocchio Consulting, Inc.
4. Openly Embrace Your Weaknesses
A novel ide—one you don’t often hear about—is that embracing your weaknesses, accepting your faults and doing something about them proactively will absolutely differentiate you from your competition. Consumers will often be more attracted to organizations that openly take responsibility for problems and fix them immediately. Do this and stand out now. - John M. O’Connor, Career Pro Inc.
5. Partner With A Complementary Brand
There’s power in numbers, so maximize your energy and dollars by partnering with a like-minded, but not competitive, brand. The result will be a mutually beneficial relationship that will reach more consumers, yield a larger brand presence and show your audience that you have their best interests at heart by meeting multiple needs through one message or medium. - Elizabeth Pearson, Elizabeth Pearson Executive Coaching
6. Focus On Delivering A Great Experience
In a world where products and services are becoming more and more commoditized, customer experience is the only true differentiator. That means brands have to fight to stay relevant by shifting the focus onto the customer and onto keeping the customer. In simple terms, they need to listen to—and understand—their customers and then design an experience to meet their needs. - Annette Franz, CX Journey Inc.
7. Study The People Who Have Accomplished What You Want To Do
Don’t follow the pack. Lead it. Do this by spending time with people that are already where you want to be. Study successful leaders inside and outside your industry. Read biographies of great leaders in business and politics. Look for common themes and apply what you learn by combining principles with the power of your personality. Be informed and be authentic and the markets will take notice. - Gary Bradt, Bradt Leadership, Inc.
8. Be Clever, Concise And Consistent
To ensure that your message is being heard in a saturated market, you have to be clever and consistent. The best new medium is short, engaging and fun videos that people connect with and are eager to share on their own social media. These videos can be insights on the market or your business, but they must be real-time and relatable. - Jon Dwoskin, The Jon Dwoskin Experience
9. Provide Value First
Brands have been so focused on pushing out content that they are forgetting the cardinal rule of advertising: It’s not about you. Maintain a 5-to-1 ratio—5 pieces of value-based content to every 1 ask. Stop inundating your consumer with too many automated drip marketing campaigns. If you have something valuable to share, do it, but getting a subscriber and keeping them are different. - Maresa Friedman, Executive Cat Herder
10. Show Before And After Results
Whatever the medium, you only have about three seconds to capture your consumer’s attention before it is lured away by a cat playing golf with a ping pong ball. One of the most effective ways to wow a consumer is to show “before and after,” “then and now” or “without us and with us.” So, speak to some of your consumers and identify the best way to show this through images, videos and stories. - Gabriella Goddard, Brainsparker Leadership Academy
11. Focus On Referrals
It’s incredibly difficult to get new business through traditional advertising methods, so I recommend focusing on existing client referrals. When your product comes highly recommended from a trusted source, the prospect is already engaged, trust is established and they are often ready to purchase. I find cultivating referral sources to give an excellent return on investment, and it’s my primary source of new clients. - Candace Barr, Strategic Resume Specialists
12. Provide Top-Notch Customer Service
Many companies compete on price, and this usually results in the cheapest winning unless your product is demonstrably better than your competitors’. If it isn’t by price or product, then the only way your company can differentiate itself is customer service. Build the friendliest, most helpful customer service team in your industry and customers will love it, stay loyal and tell their friends. - Gregg Ward, The Gregg Ward Group
13. Know Your Customer So Your Message Is Short And Clear
Microsoft claims that the average person’s attention span is eight seconds. To stand out from the crowd, you’ve got to know your customer. Poll your customers and get to the heart of what they value. When you focus on their challenges and what you can offer as a solution, you can’t go wrong. Don’t be afraid to refine your brand, and be sure to keep your message short and your vision crystal clear. - Cheryl Amyx, 4CEO, Inc.