Need a New TV?
Let’s say you got mad because the Cowboys lost yet another season-ending playoff game, and you embedded your coffee table into your TV in protest. Now you need a new TV and possibly a referral to an anger-management support group. However, here we’ll deal with the TV.
Where will you shop for that new TV?
I bet you were able to answer that question pretty quickly. Now ask yourself why you answered the way you did. Price? Quality? How soon you’d have the new TV? Your answer is called differentiation.
Every retailer designs a shopping experience for you around one main advantage. Then they market that advantage to you, so you’ll pick them when/if that advantage is what you’re looking for. For instance, what comes to mind when I say “Walmart”? How about “Target”? “Amazon”? “Best Buy”? I bet you had a different answer for each. That’s not by accident. Walmart sells itself as the lowest-priced option. Target pitches itself as a higher-end shopping experience. Amazon is shopping from your bathroom (plus fast, free shipping). Best Buy says they know more about their products. These retailers know that certain segments of the population are looking for certain attributes, and they pitch themselves as perfect for those segments. Make sense?
When it comes to your business, consider what makes you unique, and the best solution for your customers or clients. Then, make sure the public knows what that is. You can’t be all things to all people, so be the best thing to some people. You’ll build a reputation, a loyal customer base, and success.