¿How to stand out among so much competition?

How to be different among so much competition?

This is the question we often ask ourselves, we want our company to be known, to be unique, and to stand out from the competition but what are we really doing differently from them?

The first thing you must take into account to create a defined differentiation strategy is to know your competition, not only the direct competition but also the substitute products and/or services that your target customer may have access to. In this aspect you can use the Benchmarking methodology that consists in analyzing and reviewing the good practices of the leading companies in your sector and comparing them with your company's strategies. This will allow you to implement new practices and/or add value to your production chain. For a competition analysis you can implement digital tools, here I relate 3 tools that you can use in your analysis.

It must be taken into account that in today's world it is not a differential factor to have good quality processes, that is already part of the minimum elements of the value chain of your company, but it does not constitute a differentiating value in front of your client. Before creating your differentiation strategy, be clear that every product and/or service you offer can have an added value, there is no longer a commodity that is worth. Look at the example of the Starbucks company that went from selling coffee to selling life experiences. Today it is one of the largest companies in the industry generating value and a differential in service. To achieve a successful differential think about what your competition does and what you can do better, because if you are offering the same, your company will be one more in the market. You can create successful service strategies, for example if you have a national hotel chain think that the hotel market lacks. . The relatively new hotel chain Alof Hotels, owned by Marriott, is committed to the millennials and has an impeccable design with many places where you can socialize and meet new people. It allows you to open and close your room directly with your smartphone and has 24-hour access to room and restaurant service, are valuable strategies that not many hotels have and generate a differential for the customer. To achieve a differential you have to be clear about your market niche and your potential customer, this way it will be easier to identify the habits and consumption behaviors of your customers. Remember that if you are not clear about your market segment, what is good for one will not be good for another. You must know your customers perfectly because they will be the best voice to provide a better service. To stop competing on price, what you have to do is create a differentiation strategy and leave price aside, since your customers will be willing to pay for your product and/or service. What are you willing to do to beat the competition?