Brand Differentiators: A Critical Brand Builder

by | Jan 8, 2021 | 0 comments

In today’s very competitive environment being better than other brands no longer creates a sustainable advantage. Don’t be an ‘ER’ brand as you ramp-up your your company. It is critical to identify and develop key brand differentiators. 

How To Ramp-up Your Brand

Your Brand must have a unique feature, aspect, and/or benefit. It must set itself apart from competing brands. This is how you form the basis of your competitive advantage.

Our brains are hard-wired to notice differences. Your Brand must do the same thing. People have lots of choices and very short attention spans. That combination makes Brand differentiation more difficult and MORE IMPORTANT.

Sometimes your Brand’s key differentiator is obvious and definitive. In other cases, you may have many possible choices so you need to prioritize them.  If possible, identify three key ones.

1st – List things that do or could differentiate your Brand

target market – specific customer segments your brand appeals to
– attributes – descriptive qualities or characteristics of your brand
– ingredients/specifications – the unique elements that comprise your product/service
– methods – the proprietary method by which your product is made or your service is delivered
– claims – definitive statements that can be made about your brand
– brand heritage/story – the narrative of why and how your brand came to be
– technologies – specific technologies distinct to your product/service
– performance – the unique way your product works or result it produces
– endorsements – statements of approval or support from people, groups, organizations
– awards – recognition for your brand
– company – your firm’s unique programs,, people, design, etc.
– brand personality – the way your brand expresses itself

2nd – Rate Each Differentiator

Importance To Target Customers – your differentiation must make a difference to the target market
Difference From Competitors – the greater the difference, the stronger the differentiator
Ease Of Achieving & Sustaining – how easy it is for you to establish & maintain the difference
Relevance To Brand Essence/Purpose – the strongest differentiators support the Brand’s essence

3rd – Note The Top Differentiators & Identify The Lead One

Ensure Each Differentiator is Clear & Specific – use the language of  the target customers and be as descriptive & definitive as possible.
Consider using A/B testing among your target customers to help you understand the  importance of your differences.

Summary

Ramp-up your brand. The more positive differences you demonstrate to your target market the more sales will increase as you build brand equity. Don’t be an ‘ER’ company, ever!


 

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By Jim Lavorato

Jim Lavorato is the founder of 4M Performance which is designed to assist businesses to survive and thrive in these uncertain times. Jim launched an entertainment-related company in 1988. He was at the forefront in cinema technology and helped spearhead the movie industry's transition to digital presentation and distribution. He also co-founded the Arboreal Group, an environmental consultancy. He has published articles on the motion picture and media industries and is a contributing editor for ScreenTrade magazine and writes a blog "Cinema Mucho Gusto". He is a certified SCORE Mentor in the SCORE Greater Phoenix Chapter and lives in Scottsdale, AZ. Learn more about Jim in his "About" page.

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