Every company either thinks they are different, or they try to be. But if that were true, why do so many fail to differentiate themselves and fall into the trap of being a mere commodity in their industry?
Perhaps it is because so few companies fail to define themselves beyond the thing they sell. They talk about their services/products and they use the same terminology as their competitors. They often even tell the same stories as others too.
This leaves you with a few options – have a prior relationship with your client or provide a better price.
That seems like a bad recipe to grow the bottom line.
Look around at the companies that really stand out. They take risks; they tell a different story; they are odd! None of that means you have to be weird – though that can work too. It just means you have to know who you are, what really makes you different, and then clearly and confidently tell your story.
Chipotle is not a commodity within the fast-casual restaurant market. Their brand has positioned itself as “dedicated to creating a sustainable, healthful and equitable food future.” Chipotle’s purpose is focused on local farms, nutrition and animal welfare – each relevant and emotionally connected to their target consumer.
Cirque du Soleil reinvented the circus, was able to reach revenues that outpaced the traditional Ringling Brothers and Barnum & Bailey Circus. They made the competition irrelevant by creating a market that could reach into markets a traditional circus could not – opera, theater, musical shows and ballet.
You must connect with your target consumer which means you must be relevant, authentic and matter to them.
This may sound like a daunting task, and it does take a lot of effort working without outside professionals, but it is doable for any company. A few things you’ll need to figure out:
· Your core value/purpose
· How you approach that core value/purpose through your work/product
· Who your core audience is. Clue – it isn’t everyone.
· What your product is that resonates with your audience.
Then the next step is wrapping that into a story that resonates with the audience and is true to who you are.
The real test is being willing to be different. Many companies are really scared of standing out. They are comfortable telling the same story as everyone else. They might even have continued success. But you and I both know, that if we really look at our companies, we are missing out on opportunities by being like everyone else.