Today’s ever changing marketplace and economic uncertainty challenges each and every business. These challenging times also present opportunity. Opportunity to capture market share, gain a competitive advantage, and increase revenue through new customer acquisition. If you’re a lender and rates are fluctuating like they are these days, you’re looking for new ways to attract borrowers right about now. And if you’re a technology vendor you’re looking for new lender customers, as well. Heck, every business is or should, always be looking for new customers.
So, how do you get new customers? There’s no one answer to this question. In fact, if there was one easy answer everyone would own their own business and everyone would be rich. The challenge to differentiate among competing companies and products is becoming increasingly more difficult. Products and services are being commoditized. Acronyms and buzzwords are used by many companies and are creating noise and confusion in the marketplace.
Inevitably, this means a company’s brand, its unique personality, has the opportunity to become a significant factor when a prospect is making the choice between one company’s products or services over another. Dynamic messaging plays a vital role in the development of a unique brand identity. Brand/Product Positioning defines how companies will differentiate themselves and their offerings in the marketplace while building value for their specific target audiences. This impacts how others view that company’s products and services.
It is critical to have a dynamic brand message that clearly differentiates your company and its products and services from the competition – and one that portrays your company and your products unique identity. When companies look to differentiate, they often focus on features and functions that they think are cool. That’s a mistake. Why? The dynamic messaging should focus on what’s in it for the prospect not how great the vendor thinks it is.
What business value is this product or service bringing to the market and why is that the best solution for the prospect? Innovation does not just apply to products and services but also to how those products and services are marketed to their potential clients. As companies diligently work to respond to the challenges with the current economy, it will be critical for them to stand out instead of just blending in.