How to differentiate your brand in a competitive market

Written by: Mick Donohoe

The explosion in social and digital marketing activities has empowered more businesses to reach out far and wide. In the B2B space, for example, businesses can source products and services beyond their geographical boundaries. Signing up to a new marketing automation platform is also as easy as a tap-and-swipe.

You can choose to see this explosion as a boon or bane. Whichever perspective you take, the reality is Internet of Things has changed the way we do business.

Indeed, it’s grown more challenging to convert and retain customers. Having said that, some fundamentals about doing business haven’t changed.

One of them is having a differentiated branding strategy. In this post, we’ll discuss how you can create a differentiated branding strategy to compete effectively.

1. Are you filling a gap?

If you are, you’re off to a good start in creating a differentiated branding strategy. Avoid being a ‘me-too’ company as best as you can. It’s tempting to plant a stake in a lucrative market, but unfortunately, you risk playing catch up most of the time, especially if the pioneer brand is in a strong leadership position.

2. A great story sells

Everyone loves a great story. Whether you are a legal or management consulting firm, your brand has a story to be told. In your story are ideals and values your target market can identify with. But unless this is communicated correctly, it will not reach the ears of your target audience. However, how a brand’s story is communicated will differ based on your sector and audience. If you’re a legal firm, perhaps a series of publications or podcasts would suit your company best?

3. Keep abreast of developments and trends in the market

Today, the lifespan of a marketing strategy is short. The playing fields are levelled pretty quickly. In the age of agile marketing, you’ll need to respond to changes promptly. A differentiated branding strategy is one that is always ahead of the curve, and this is possible if you take cognizance of what matters to your target audience.

To learn more about branding strategy, contact us at Capstone Marketing today.