You vs. Your Competition

You vs. Your Competition

(How you can win!)

Picture151 You vs. Your CompetitionEven as you are zooming forward in the high-speed of social media, it’s important to make sure that you are strategically implementing the fundamentals into your ad campaigns.  Defining what sets your business apart from the crowd is foundational to your marketing plans.  As you are trying to advertise a specific product, service or event–it is increasingly important to show potential customers why someone should pick you over your competition.

Just think about something as simple as a hamburger.  Different restaurants that sell hamburgers define themselves in specific ways: McDonald’s defines its offering by volume, touting that billions of hamburgers have been sold; Burger King offers a ‘flame-grilled burgers’; while the trendy American West Coast chain, In-N-Out Burger offers a simple (delicious:) menu, but also a (well-known) secret menu.  Each restaurant is offering around the same product, but is set apart from the crowd by their offering.

This marketing concept has been around for ages, and never there has been a more important one to implement with the sea of competition you face online.

Here are some popular examples of other brands and companies defining themselves against the market:

  1. Pandora Internet Radio: Play only the music you love
  2. Ebay: Shop victoriously
  3. Stabucks VIA: Never be without good coffee
  4. Zappos: Free Shipping, Free Returns
  5. Hyundai: 100,000 mile warranty
  6. The Four Hour Work Week: Escape the 9-5, and Join the New Rich (Tim Ferriss)
  7. Federal Express: When it absolutely, positively has to be there overnight.

What makes your product, service or event different from the rest?  Why should customers pick you over another similar competitor?  As “Entrepreneur,” says, if you haven’t done this before, it could require a bit of soul searching for your business.

Traditionally, companies have distinguished themselves by: price, availability (or lack thereof), location, expertise, quality, value, customer service, product guarantees, etc.

You don’t necessarily have to compete heavily with the price of your competitors if you can lay out what makes you different.

Understanding why your customers buy your product will help you to understand exactly what benefit you are providingPerhaps even what pain you are alleviating?

In the list above, every tagline addresses a pain by the ideal customer.  Tim Ferriss’s message of “Escape the 9-5, and Join the New Rich,” touches on the pain people feel when going into work for a job they don’t care for.  Pandora offers internet radio that tries to, “play only the music you love,” which addresses the annoyance of listening to bad songs on the radio.  And the list goes on!

So now let’s talk about how you can bring this to your Facebook advertising campaign.  Once you have defined how your product, service or event is different from the competition, it’s time to highlight that in your ad.

Here are a few examples of companies that are distinguishing their offering:

Picture16 You vs. Your Competition

The top ad for jewelry offers conflict-free diamonds; Zachys offers budget-friendly wine advice on their Facebook page and Starbucks offered 12 days of blockbuster deals during the holidays.

Now it’s your turn!  What makes your business unique?  How do you distinguish yourself against the competition?

 

If you need help in this area, consider our Fast Start coaching program or even the Done For You package to see results–FAST!

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