13 Aug Are You Just Blending In Or Are You Standing Out?
Today’s market conditions aren’t easy, but I don’t have to tell you that. You know what’s transpired over the last year or two. The challenge to differentiate among competing companies and products is becoming increasingly more difficult. Products and services are being commoditized. Acronyms and buzzwords are used by many companies and are creating noise that can blur the lines of differentiation.
Inevitably, this means a company’s unique personality, its brand identity, has the opportunity to become a significant factor when a prospect is making the choice between one company’s products or services over another. Dynamic messaging plays a vital role in the development of a unique brand identity.
The challenge for companies to develop this dynamic messaging is magnified by the fact that often times during challenging market conditions, marketing budgets are one of the first to be cut. Therefore, when innovative product and service offerings are delivered to the marketplace, the proper positioning of the offering does not exist; creating more noise, less differentiation and even fewer sales opportunities.
When companies are fighting for their life they will invest in research and development in order to launch a new tool that they think solves a market need. But what happens? The new tool flops. It doesn’t perform as expected. Why? Because the vendor didn’t have a trusted brand behind it.
What people fail to recognize is that perception is often reality. A company’s prospective clients should immediately recognize the value proposition behind dealing with that vendor. You don’t just want to be one vendor among many, you want to be the No. 1 vendor in your space.
Brand/Product Positioning defines how companies will differentiate themselves and their offerings in the marketplace while building value for their specific target audiences. This impacts how others view that company’s products and services. It is critical to have a dynamic brand message that clearly differentiates your company and its products and services from the competition – and one that portrays your company and your products unique identity.
Dynamic Brand/Product positioning sets the foundation for the messaging that will be used in all interactions within the marketplace. This foundation enables companies to differentiate themselves by delivering consistent messaging in all communications, whether it is on the company’s web site, marketing material, sales presentations, press release, etc. This differentiation will help drive demand in the market for that company’s products and services.
When companies look to differentiate, they often focus on features and functions that they think are cool. That’s a mistake. Why? The dynamic messaging should focus on what’s in it for the prospect not how great the vendor thinks it is. What business value is this product or service bringing to the market and why is that the best solution for the prospect?
If I’m a user I want to know how that new solution benefits me. How do I eliminate cost? How do I stay in compliance? Make that solution resonate with the prospect. Show its value.
I think that if companies applied the same innovation to marketing as they do with research and development, they’d be much better off. You need to have an effective strategy around not just how the product is built, but how it is marketed and sold.
Innovation does not just apply to products and services but also to how those products and services are marketed to their potential clients. As companies diligently work to respond to the challenges with the current economy, it will be critical for them to stand out instead of just blending in.