How do I differentiate myself from competition?
I recently opened an online store that sells locally in Lebanon, and I am searching for a way to differentiate myself from my competition. Any advice on this matter?
Check out your competitors and see if anything jumps out at you. Yes to everything mentioned by Mr. Chao. I would also add trying to differentiate on more personal things like "hometown boy" or words that highlight your ethics or spirituality. Whatever makes you different. Niche is always better, so define your niche.
1. After 16 years in business I can not reiterate the importance of checking out your competition. Look for their weaknesses and while building your plan take these flaws into consideration.
2. Know your product. There is nothing worse than being asked a question about YOUR product and you can't answer the question.
3. Also, always know your lead time on products if you don't keep a large stock. It is no good to a customer for you to give them a really good price but your lead time is 14 days and they need the product tomorrow.
4. Shipping. How are you shipping? Offer a shipping cost from a contract you have negotiated with the shipping company. Too many online businesses offer a cut price deal for the product but then try gain the profit back within the shipping.
One thing which works! add the basic cost of shipping into the product price then offer Free Shipping! Every one loves free shipping.
Analyze what strategy your competitor are using. You can use MOZ tool "https://moz.com/" to analyze your competitor. This helps you to know from where they are getting more backlinks and ranking higher on search engine. Because ranking higher on search engine can boost your sales by 100%.
There are countless ways of doing it -- less options that customers actually care about.
Some include: higher or lower price, higher or lower quality, better customer service, personality, colors, influencer marketing, speed of delivery, extra features, extra benefits, etc
I think the copyright infringement is a very important issue
Your idea may be wonderful and innovative, but you need to ensure that you are aware of any competitors you have and how similar your idea may be to others. By not taking the time to do this research, you could find yourself in some serious legal trouble.
In regards to your online store, this could involve the logos and catchphrases you use in your store’s branding, or even in the products or services that you provide on your website.
On the flip-side, you need to protect your own ideas also! Terms and Conditions for your site will inform others that your IP belongs to you. By ensuring your legal ownership of intellectual property in the case of another party stealing your ideas, the law will be on your side.
Owner of a network of travel blogs
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The primary means of differentiation you should look at are:
1. Price Point
3. Feature and Benefits
Sometimes you cannot compete on price, for example, but you can compete by going after a different demographic (age group, etc).
Features and benefits might include:
Telephone support and ordering
Information or images
Service would be customer service where you can provide something superior.
That really depends on the products you sell.
But the right way is, I think, to sell items that are present nowhere else. Many stores in Ukraine have these labels on goods "Own import" which means these goods are exclusively sold in this store. I think the variety of choice would attract more customers.