In the previous part of the journey to becoming a market leader, we encouraged you to find your target group. The next step will focus a little more on your business opportunity. This will allow you to determine what drives customers to do business with you and consider how to pique their interest in your company.
Table of Contents:
1. Get ahead of the crowd and offer something more.
1.1. What does it take to be a "Purple Cow" in the marketplace?
2. User referrals - your chance to stand out from the crowd!
2.1. Provide what other companies cannot.
Get ahead of the crowd and offer something more
Stand out from the crowd! A simple and obvious tip, but still many businesses struggle with it. Arousing customer interest can be compared to watching a TV show. An interesting series created with an idea is able not only to attract viewers, but also engage them to watch more seasons. Otherwise, the viewer will choose another production that will provide satisfaction. The same in the case of business. Sometimes one detail decides about the choice of the company by the customer. Free delivery, professional service, wide selection of products - this is what many companies boast about. However, to stand out from the crowd you need something more.
What does it take to be a "Purple Cow" in the marketplace?
One of the most quoted strategies to stand out from the crowd is the one developed by Seth Godin. His original concept of Purple Cow presents a vision of being unique. As he stated, watching standard cows gets boring after a while. They may be perfect, attractive, have great personalities, lit up with beautiful light, but they stay boring. The trick is to be a purple cow that is at least for a while interesting.
An example of such a company is the world famous Starbucks chain. The company revolutionized the concept of coffee shops and the ritual of drinking coffee. Their paper cups, in which coffee is served, are signed with customers' names when they order. This reduces the distance between the brand and the client. What is more, customers feel important when their name is called out. In addition, this treatment has an impact on the taste experience. Many coffee lovers have a favorite mug in their homes. With personalized cups from Starbucks, they can experience a similar feeling.
User referrals - your chance to stand out from the crowd!
By standing out from the crowd, you can gain unique customers and thus generate more profits. Therefore, to become extraordinary you need to have a good idea and make it happen. Satisfied customers who will tell their relatives about your product can help in promotion. In fact, a referral from a person who has experienced the product is more valuable than ads that surround us from all directions.
One of the inspirations can be Facebook, which before became a social media giant was known as a communication service for Harvard University students. The idea and useful functionalities made the reach of the portal grow. From a local page for students, Facebook has become a communication tool for people from all over the world. Of course, not every business can achieve success comparable to the American portal. Nevertheless, it is worth setting a realistic scale to achieve and strive for it.
Provide what other companies cannot
The recipe for standing out from the crowd may turn out to be responding to customer pain points in a different way than the competition does. It is important to find the weaknesses of existing companies in the market and come out to customers with your own solutions. In this way, your business will become the answer to problems and gain recognition. Sometimes it is better to run a company in an unconventional way than to duplicate the schemes used by competitors.
A refined product can contribute to the success of the company and make it stand out from the competition. Moreover, you should also take care of everything around it to meet the needs and expectations of your customers. Drawing attention to our business is half of the success, so it is worth ensuring that the previously mentioned TV series does not end with one season.
See also the other parts of the series
Step 1: Define your target group
Step 3: Be a step ahead of competitors
Step 4: Provide extra value