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How to Identify Your Brand’s Competitive Advantage

Filed in: Business, Tips

April 26, 2017

Every business, big and small, needs a competitive advantage.  Maybe you are scratching your head asking “what the heck is that?” or maybe you’re trying to remember from business school. Don’t worry. I’ll explain.

My job is mainly full branding for small creative businesses and for all of them we discuss their competitive advantage whether or not they know it.

“In layman’s terms a competitive advantage is a strength of your business that offers value to your customers and sets you apart from your competitors.”

Every business needs a selling point, something to stand against the crowd. Maybe you’re a wedding photographer and include an anniversary session in your wedding bookings. Maybe you’re a florist who provides a floral crown for the engagement session. For me I consider my business background and turnaround time two competitive advantages I have.

How to identify your competitive advantage: Here are three key things to keep in mind.

  1. IDEAL CLIENT : What does your ideal client want? What is something they would see as “added value” that other competitors may not have? You know your ideal client best (and if you don’t then you need to).
  2. COMPETITION: What do your competitors offer? Make sure to choose something that is different.
  3. REINFORCE MESSAGE: Whenever you determine your competitive advantage you need to constantly reinforce it to your audience. Be redundant and consistent about it. I definitely highlight my business background and turnaround time on my website, in Instagram posts, and anywhere I can! I want to reiterate that this is something special about me that no one else has.

Having a competitive advantage is key to booking clients. You need to set yourself apart from the pack. It might take some time to discover or even develop an advantage. If you’re a new business owner unsure of a lot about yourself don’t worry! It will come with experience and learning what your ideal clients value and want.

 

Psst maybe having a welcome magazine is a competitive advantage! Peep the R&I magazine here in the shop. Use coupon code “blog50” for 50% off either version.

Leave a Comment

  1. Megan

    April 26th, 2017 at 4:00 pm

    This is super great! Thanks for sharing!

  2. Quentrica Williams

    April 26th, 2017 at 7:31 pm

    Great info! I’m bookmarking this to review in the future. I have a super new business, so I’m not quite sure of my competitive advantage just yet, but this is definitely something I need to keep in mind.

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