To truly position your brand for success you must have a competitive advantage. This is especially true if you are a startup poised to launch into the market.
This Q&A with Avocet’s president and CEO, Lori Jones, is all about creating competitive advantage through differentiation.
Beginning the process of positioning for your points of differentiation begins by first clearing defining your points of parity. Let’s define terms:
Points of Parity, put simply, are table stakes, the givens that customers expect from the brands they choose. These attributes are so basic that they hardly need to be referred to. When a bank says they offer free checking, ATMs, and numerous branches, most customers couldn’t care less. Doesn’t every bank? And, apart from the services, this applies to more intangible offerings, as well. When a brand says, “trust us,” a red flag is raised. Shouldn’t that go without saying?
Points of Differentiation are the attributes that make your brand unique. They are your brand’s value proposition, the things you can say, and the things you offer that no other brand can. Your points of differentiation are the reasons why consumers should choose your brand over another. These attributes must be consistently reflected in your brand slogan and advertising.
If you’re focusing on points of parity – the same things that your competition can say about their product or service – then you will never rise above and gain true brand awareness, drive customer acquisition, and ignite your growth. You can only do that by taking a laser-focused approach to marketing and by articulating what it is that makes your brand the one that everyone should flock to.
The best way to do that is by being BOLD and implementing BRAVE MARKETING STRATEGIES. One recent study of 6,000 companies found that those that held back and “skimped on courage” performed considerably less well than those that took a swing for the fences. This is a mindset we live and breathe every day at Avocet; it is an integral part of the people-first strategic marketing we deploy for every one of our clients.
In the Q&A, Lori gives some powerful examples of name brands – Wells Fargo, Mentos, Clorets, Halls, and even FedEx – to drive this point home. Watch here: