Brand differentiation is how you set your brand apart from your competition and attract your potential clients to yourself. In today’s world, it is necessary to differentiate your brand to build a powerful and successful business.
Even if you have a revolutionary idea, your competitors will knock you out if you do not stand out in the market. They will use every resource of yours, and you would see their margins and market shares crossing your numbers.
So, how do you make you differentiate your brand from others? Let us take a look at the three ways in which you can differentiate your brand from your competitors:
Offer Something Unique
To gain market share, it is necessary to have a unique selling proposition. All you need is a single element differentiating your product or services from others. If you do not provide anything unique, then you must think of adding it.
All you need is to study all your competitors, figure out the loopholes and add a unique feature to your brand that your customer cares about. Highlight this unique selling proposition in a way that customers get attracted to it.
Robinhood is an excellent example that has always done an impressive job of highlighting its USPs. It has been leading the market as the first mobile-investing app to offer commission-free trading.
They highlighted this unique service of theirs by using it as a slogan on its website. Now, when their competitors have caught up, they have changed the focus to “investing for everyone.”
Compelling Brand Identity
Tactically designing your brand’s identity is necessary. It showcases why and how your brand is better than others. Identity consist of three components:
- Company’s logo: It is the first impression of your business. Make sure you invest well to get this right. It should be versatile, recognizable and timeless.
- Colours: Colours are the most vital factor when purchasing products. It affects 93% of the buying decision. The colour you choose should be consistent everywhere on your logo, marketing materials, social media pages and business website design.
- Fonts: Fonts are another factor that impacts people psychologically. An easy to read font that communicates your brand’s identity will make your brand visually distinct from your competition.
Even if you already own a brand, rebranding is something that you must consider if things are not in place. Brand identity deeply influences the market and can decide the success or the failure of any business.
Coca-Cola is a notable example of having a compelling brand identity. Their simplistic product packaging design appeals to customers, making them more likely to purchase items.
The shocking red and the curious yet authoritative cursive plays with the psychology of humans. Their product packaging design is also red that evokes caution and warning. The same colour is also constantly prominent on their social media pages.
Great Customer Experience
A remarkable experience brings along customer’s loyalty and growing business, while a bad experience reflects the opposite. 33% of the customers tell their friends and family about a terrible experience with any brand.
Therefore, creating a novel and a truly stellar experience can make your business stand in a good way. Customers also tend to pay more for products and services if their experience with a brand is good.
To achieve this, you must understand who your customers are and try to connect with them emotionally. Emotions make more than 50% of the customer experience. It makes them remember how they feel when they use your product or service.
Casper, the mattress company, pulled in $100 million in sales in just one year by using a unique approach. They launched a chatbot that provided an impressive customer service experience.
It allows the insomniacs to talk to the chatbot by simply texting “Insomnobot3000” from their phones. The customers were free to talk about whatever is on their mind while having a real conversation. It not only brought peace to people but also helped them fall asleep.
From this idea, Casper was able to collect mobile numbers, sending them promotional offers and discounts. Making it easier for customers to connect with them that ultimately elevated sales.
Final Words:
To differentiate your brand from others is not an easy task, and not everyone is going to love your brand. Brand differentiation is all about being unique and providing a memorable experience to customers who value you.
The above tips are just a few ways to make your brand stand apart. We are sure that there are plenty of other ways that can help you achieve your goals and increase your business.