Parker's Points
October 2004
Here are some ideas on making a business stand out from all the others. Sometimes it is not one attribute but a combination of attributes that makes the business different. Uniqueness is the key to differentiating your business from all the others that are focused on your target market. Even when you think you have something really unique, you must be vigilant because others will copy you and some may even improve upon your idea(s). The October 11th issue of Business Week is devoted to Innovation. Check out the article Building an Idea Factory.
10 Ways To Make Your Business Unique
- Largest Selection
One way that you can make your product or service stand out is to offer the largest selection of products, services or programs.
Example: Home Depot, E-Bay, Staples, Amazon.com - Innovative Product
If you have a new product with a patent covering it or a service that others don't offer, you will have something that no one else can offer.
Example: Windows, Viagra, Value Program - Multiple Uses
Once you have a product or service to offer, look for other ways that the customer can use the same product or service.
Example: Baby carrier that has carriage base, electric can opener with knife sharpener, Aspirin can be used as pain reliever and heart attack preventative. Cell phone is a camera too. This is what Merck set out to do with Vioxx --there are risks. - Superior Customer Service
Keep reminding your customer that you are eager to help them by giving extra-ordinary support on your product or service.
Example: Nordstrom's is known for this. Doctors who make house calls, a mobile lawyer's office, a glass company that comes to your workplace to change the glass in your automobile are other examples. - Convenient Location
Make it easy for customers to do business with you by providing them access in exactly the place where they will need your product or service.
Example: Bank in the supermarket, ATM in airport, setting up a stand to sell umbrellas on a busy street corner on a rainy day. - Expert Consulting
If you have deep knowledge of your product or service, you can be useful in helping your customers before and after the sale is made.
Example: Computer sales person who understands connectivity issues and can help you integrate your equipment with the new computer. Real Estate Agent who has huge rolodex and provides referral to other vendors that new home owner would need. - Price
If you have a product or service with a high price, you offer prestige. If you offer the lowest price, the thrifty customer will be attracted to your product or service.
Example: High Price - Lexus, Canyon Ranch etc. Low price - Target, Wal-Mart - Lasting affect
The product or service you offer have a longer lasting affect than any others.
Example - Extra strength Tylenol, Bike lock that cannot be opened, car battery that lasts 5 years, long lasting car tires. - Guarantee
Offer a guarantee with your product or service.
Example: Money back if not satisfied. Free conversion back to previous vendor if not satisfied. - Packaging
Offer a package that is different from others. (prettier, stronger, environmentally friendly, easier to open, child-proof)
Example: Packaging material that dissolves in water, free gift wrapping for all purchases, child-proof aspirin bottles, juice drinks with straw.