Are You Making this 2nd Foundational Marketing Mistake?

Last week, we talked about one of the hidden Achilles heels that can undermine?your marketing success?- building your marketing strategy around your competition,?not your customers.

But we're not done yet. There's still one more common-yet-critical fumble you'll?want to avoid.

Achilles Heel #2: Competing Harder, Not Smarter

Now that we’ve got your focus regarding your own alignment with your customers,?we can take a look at your competition.

There’s a stealthy principle behind most successful businesses: they find the opportunity?that their competitors are missing.

They’re not out to simply imitate their competitors. They’re out to surpass them.

It’s like the Golden State Warriors using the 3-point shot when everyone was all about?dunks. Or Amazon seeing the convenience of the early internet when the world’s?assumption was retail.

Now, you might not be Jeff Bezos, but you can apply the same principles?to beat your?competition too.

It’s all about finding even the smallest ways to create daylight between you and your?competitors.

Find Your Edge, But Don’t Break Your Budget

Yes, it takes money to make money. But more money in itself is not what is going to put you?ahead of your competition.

Differentiation is.

But for most Business Leaders, knowing what really differentiates your business?AND how?to leverage it...is tough.

Maybe you think you need an idea that puts you miles ahead of the competition (you don’t),?and because you never really find it, you never actually pull ahead.

You don’t need?to wait on an industry-altering, paradigm-shifting revelation to set your business?apart.

Just like an Olympic sprinter, you don’t have to win the race by a mile - just by a second. You'll?still win 100% of the gold.

Focus Heavily On Your Clients’ Wants & Needs

Now, how can you “find” your differentiation??

Sometimes you need to create it, but I generally recommend that you start with a deep-dive examination?of your business - because chances are you’re already sitting on something that can give you a competitive?edge.

So whether it’s dusting off something you already do well - and shining the spotlight on it - or developing an?opportunity you see in your space to show off - it’s all about doing something that matters to your customer?

and doing it uniquely well.

Start your exploration with a few questions around:

Demonstrating Value:

* Does your service or product produce uniquely valuable, verifiable results?

* Especially if you are in B2B, can you demonstrate tangible ROI?

Overcoming Industry Pain Points:

* Are there any pain points that have a reputation in your industry?

* How can you fix them for your prospects?

Exceeding Delivery Expectations:

* Are there any creative ways that you can create a surprising experience in how you deliver your offer?

* Unique packaging? Meaningful personalization?

* Over-delivering on timeline?

* Resources to support successful usage?

Competing harder is not the answer. It's known as the Red Ocean - full of blood.

Competing smarter?through meaningful - to your prospect - differentiation is.

To your success.

What do you think?

Use the comment area below and share your experience or advice on this topic.

Business not growing the way you'd like it to?

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If you're a bit frustrated with slowing or stalled growth – let’s have a short call to see if we can help. Contact me at 480-766-1772 or [email protected] .

Rich Kohler is a Business Growth Expert. His company, Kohler Consulting Group specializes in helping CEOs and Marketing Executives of Mid-Market Aerospace & Defense, Hi-Tech firms who want to accelerate or recapture growth momentum, build a clear roadmap to achieve faster, more predictable and sustainable, profitable growth.

For 30 years, I've used the globally-proven Growth Playbook process to help multiple Private, Private-Equity and Public companies grow profit & sales 10-15%/yr+ including BAE SYSTEMS, Eaton, GE Aviation, Smiths PLC, Transdigm.

Do you need to:

• Address stalled growth, flat-lined revenues, declining profit margins?
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Are you serious about accelerating your growth - and moving to that next level of success?

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