Tuesday, May 17, 2016

Meeting the Challenge of Differentiation

One of my largest professional networking groups is chock full of practitioners in certain industries, most notably real estate brokerage, financial planning, and insurance brokerage.  It has been intensely fascinating to me that most of these good people don't differentiate themselves from competitors, and in some cases apparently don't try.   The unfortunate result of this is a series of nearly identical "commercials".  I deeply sympathize.  It isn't easy to truly stand out.

What to do?

The secret to effective differentiation is to narrow focus to a laser thin beam.  I advise people to write down a (short) list of experiences, skills, products or services they offer that no one else does.  And then talk to that.

Let's take our real estate broker, for example.  We will know immediately that the person has training and (presumably) experience with real estate.  We will expect them to be licensed, certified, and knowledgeable.  What won't we know?  Does she represent certain communities or neighborhoods?  have a background in education, knowing schools very well?  Does she have expertise with certain types of properties?  have demonstrably high sales metrics?  have special success moving difficult properties?  and so on.

Another way to approach this is to explain success solving client problems or needs.  For our broker, can she talk about a recent sale where her skill set made the difference and a happy ending?  Or how she makes connections with her clients and serves them?

And one more thing.  Please don't tell someone you are different and then leave us guessing how!

Bottom line:  Sometimes less is more.  By focusing narrowly on a critical difference with a competitor, a business can stand out more noticeably.  As you seek to differentiate yourself, think about the seemingly small ways you help other people.

No comments:

Post a Comment