Differentiation, standing out from the crowd, setting yourself apart, USP or unique selling proposition!
These terms identify the goal for any company large or small which is to show the buying public why its product is superior to what seems to be a similar product being offered by the competition.
In some instances this differentiation is relatively easy to achieve but in others, when one company’s product seemingly does not substantially differ from another’s, it can be much more difficult. Difficult, but certainly not impossible.
Title insurance is a perfect case-in-point!
The general public tends to rely on their real estate attorney when choosing the title insurance provider to use when buying a residential or commercial property.
All things being equal and assuming that the quality and claims paying ability of the underwriter is basically the same, it’s the relationship between attorney and title insurance firm that tends to be the delineating factor.
So when it comes to business development title insurance companies need to attempt to start and then build a relationship with that attorney who, in a perfect world, will give them an opportunity to prove themselves. Once that opportunity has been provided, this relationship will hopefully be solidified!
The two examples below, one a print ad and one a whiteboard video, represent some of the ways that Hallmark Abstract Service attempts to differentiate itself…
Stand Out From the Competition with These 5 Tips
Regardless of the industry, every business owner has one thing in common, we all have competitors to deal with. The way to win the attention of potential customers is to stand out from the crowd. Here are five practical ways to separate your business from the rest:
1. Discover Opportunity in Your Competitor’s Shortcomings
When your prospective customers share their bad experiences, this is the perfect opportunity to share proof of how your company has succeeded.
2. Focus on Quality Service
Make sure your sales and customer service representatives are well-trained in providing optimal service. Recently, Marchex (a marketing analytics company) conducted an analysis that revealed that making simple changes in call handling can drive $100 million more in phone sales for business owners.
Additionally, nearly $1 trillion in revenue is generated through “click-to-call” commerce in the US, according to Marchex. When companies are friendlier in answering customer phone calls, it can potentially increase conversions.
3. Use a Diverse Selection of Platforms to Gain Maximum Results
Oftentimes, it can be easy to become comfortable with using the same humdrum marketing techniques. For example, if you rely on Google pay-per-click ads as your sole source of marketing, consider venturing out from the ordinary and explore new ways to grow your brand. Here’s a short list of ideas:
Guest blogging on authoritative websites
You do not have to use all of the above ideas. Pick and choose 3-5 platforms you feel most comfortable using. There are numerous ways of increasing the exposure of your business and gaining new customers.
4. Define Your Company’s Purpose
A company without a purpose is like a collision waiting to happen. Ask yourself the following important questions:
Why do we exist?
What do we stand for?
What impact do we have in the lives of our customers?
Once you have answered these three questions, you will discover how your customers experience your business.
5. Constant Marketing = Success
The heart of a successful business lies in its marketing. A thriving business is constantly searching for creative ways to acquire new leads, traffic, customers and followers. A business that does the opposite is considered stagnant. A company that neglects its marketing could launch a new product or service, but none of their potential customers would be aware that it even exists. (Source)