brand distinction
Most companies start with an idea for a new product or service and then build everything around it. In the beginning, that can be enough. But then the organization needs more revenue to sustain itself, new competitors enter the market, pricing pressures increase, and the distinction starts eroding. The company ultimately finds that its brand is becoming a commodity. Now what?
Find Your Distinction
To avoid commoditization, companies need to find a point of differentiation that preserves value in the market. This often means looking beyond the current product and service offering to find something that is truly unique and that can stand the test of time. The possibilities are endless. Here are just a few examples of where to look:
- History: The way the company was started, who founded it, or what it has become known for.
- Business: The market position, distribution channels, customer type, buyer loyalty, or internal systems.
- Organization: The way the business is organized, how it is staffed, or its involvement in the community.
- Culture: Traditions, values, ethics, personality or legacies.
- Products: Current or new product offerings, services offerings, or the process used to create them.
- People: Employee loyalty, experience, expertise or credentials.
Finding your distinction is critical if you expect the market to understand your value. If you have a clear position, you become a clear choice.
Ant Hill Insight
Finding your distinction requires that you set aside your mission statement, business strategy and marketing plan to take a fresh look at what is really important about your brand. What do you aspire to be? It may not be who you are today.
