It happens. You no longer offer the only one of its kind, or your
price advantage is now also offered by your competitor, or now all of your
rivals have a commerce website just like yours…
You now have no differentiation. What can you do? Some
companies do nothing, others lower their prices, others shut it down, and others
try to copy someone else.
I think the best thing to do is step back and re-assess what
you are and what you offer. You may find you really offer something else
just as valuable. You may find not.
Lowering your price or copying your competitors will only make
failure certain. It may be the scariest of times, as if you’ve lost your
best friend; but, keep your head up. You may become stronger, far stronger, going through this.
Barry LaBov
LaBov & Beyond Marketing Communications and Training
Fort Wayne, Indiana
Posts
When a company loses it only differentiator it is very important for business owners to take a step back and re-evaluate their companies. As LaBov & Beyond's Barry LaBov mentions many owners will realize their products are still unique in some way, but if not, do not give up. When my own small business faced a similar situation we turned to our marketing team to think of new, creative advertising ideas that would help us stand apart from our competitors. By putting more effort into our marketing strategies we were able to stay ahead of our rivals.
ReplyDeleteMark, I agree. LaBov & Beyond has a niche that is our differentiator--we help market and train corproations that sell through sales channels. Without that niche, LaBov would be just another firm.
ReplyDelete