on Feb 25, 2024 4:45:51 GMT -6
Post on Feb 25, 2024 4:45:51 GMT -6
The You cant look for differentiators and competitive advantages without taking into account the problems expectations aspirations and everyday responsibilities of your customers and what they will look like in a few years. Lets stick to the example of the hammer manufacturer. If the stores you sell tools to want to be perceiv by their customers as experts focus on product training and materials about hammers that store employees can use. When your training and materials are the best on the market this will be your differentiator. Use the Value Proposition Canvas or Buyer Persona exercise. Write down what you know about your customers needs and think about which ones you can meet better than the rest of the market.
Where else to look for competitive advantages Conduct customer interviews Analyze your ten closest competitors Talk to employees who have work for your competitors. Not every differentiator is a competitive advantage Our example hammer factory stands out because produces durable hammers perfectly understands customer needs of employees speak English at C level handles complaints very quickly when someone types carpenters hammer into Google they will see our dedicat website first average delivery time is Phone Number List business days. Which of these distinctions can you prove If you cant prove something its not a credible business advantage. You will then lack this proof when talking to potential clients. It will also be difficult to compare whether you are really the best on the market in this respect.
Is the differentiator important to the customer The more important your differentiator is to the customer the more it will help you acquire him. Thanks to it you will reduce marketing costs shorten the length of negotiations increase customer satisfaction and reduce the percentage of companies that resign from cooperation. The competitive advantage matrix will help you organize your competitive advantages Source Monetizing Innovation by Madhavan Ramanujam.
Where else to look for competitive advantages Conduct customer interviews Analyze your ten closest competitors Talk to employees who have work for your competitors. Not every differentiator is a competitive advantage Our example hammer factory stands out because produces durable hammers perfectly understands customer needs of employees speak English at C level handles complaints very quickly when someone types carpenters hammer into Google they will see our dedicat website first average delivery time is Phone Number List business days. Which of these distinctions can you prove If you cant prove something its not a credible business advantage. You will then lack this proof when talking to potential clients. It will also be difficult to compare whether you are really the best on the market in this respect.
Is the differentiator important to the customer The more important your differentiator is to the customer the more it will help you acquire him. Thanks to it you will reduce marketing costs shorten the length of negotiations increase customer satisfaction and reduce the percentage of companies that resign from cooperation. The competitive advantage matrix will help you organize your competitive advantages Source Monetizing Innovation by Madhavan Ramanujam.