Where is your blue ocean?
Be relevant and unique
A strong brand is both relevant and unique. Meaning that the product or service has a real or perceived value to the target audience and is different enough that it’s clearly differentiated from the competition. Otherwise, you start playing in the field of commodities and then your option is to compete on price, which is not ideal.
How to analyze the competition
So, let’s say you are confident that your product or service is both relevant and unique. How are you communicating that? Is it standing out or is your message being lost in the sea of sameness along with all your other competitors? If you haven’t taken the time to review what you are saying vs. your competition, it’s important to do that and here is how:
1. Create a simple grid with ~10 rows and 5 columns. This is what you’ll use to evaluate what your competitors are saying vs. what you are saying.
2. Write 1 competitor at the top of each column – include 3-5 competitors. There may be more, but you will probably know who these are right off the top of your head and it’s not too often there are more than this unless you are a larger company with multiple divisions competing in a variety of markets. If that is the case, then do this exercise by division or area of company.
3. Review the first competitor’s website along with any advertising or promotional materials you can find. Analyze this and read through their main messages, the headlines, and then dig a bit deeper into their story which is often found in the “about us” section of their website. Write each key word along the side or Y axis.
4. Repeat step 3 for the other competitors. Check the box if they are saying one of the same things you’ve already included. If it’s new, add that to the list. Now you have a grid with check marks showing what each competitor is saying. Writing this out can be quite eye-opening, and it helps you find that open space that your messaging can claim.
You will probably find that almost all the competitors say many of the same things such as superior quality, customer service, made in the USA, responsiveness, and so forth. This may or may not be true and you may or may not be doing any or all these things better than them. It’s simply what they are communicating. For all these common items, they are more than likely just table-stakes in your industry. It’s perfectly fine if you say the same thing, but you wouldn’t want to make it your main message – it’s just the same as everyone else.
Stand out in the crowd
Some may call out a few unique things. Others may highlight some different aspect of what makes them better such as an innovation or history or a particularly unique approach. That’s where you want to focus and think about. What is it that you do really well and stands out from the others? Your company didn’t become successful because you offered the same type of product or service like everyone else. There is something about what you do or how you do it that stands out – that truly differentiates your company and brings your customers value. That is the basis of finding your blue ocean – articulate it – own it. Yes, you can talk about the other things your customers may want to know such as your great service and high-quality – but it’s more important to find that unique main message that stands out and tells the world why they should work with you.
Don’t let your message get lost or ignored because you are not clearly articulating what makes your company important to your customers and why your product or service is meaningfully different.