In Episode #285, Eric and Neil discuss how to differentiate your product or service in a highly competitive market. Tune in to find out the 2 main strategies that will set you apart from the rest and the importance of having a product that is user-friendly.
Time Stamped Show Notes:
- 00:27 – Today’s topic: How to Differentiate Your Product or Service in a Highly Competitive Market
- 00:40 – Eric’s agency charges more than their competitors but there’s a reason for that
- 00:50 – Other agencies charge less and will hand your account to juniors who don’t know what they’re doing and are still figuring things out
- 01:11 – You end up losing money
- 01:22 – All of Eric’s people who work with an account have a couple of years’ experience
- 01:29 – Eric gives access to 3 channels: AdWords and Facebook are two of the channels
- 01:37 – Eric himself strategizes for the accounts
- 01:43 – Eric’s agency is different because they bring new ideas
- 02:04 – Two main strategies of Neil’s are creating a unique angle and adjusting your messaging
- 02:10 – For creating a unique angle, you choose between Neil’s agency and a big marketing agency who usually hires new graduates
- 02:46 – Do you want to trust your account with a new graduate or with a small boutique agency where you can work directly with the owner
- 03:35 – Figuring out a specific angle is the “easiest way to differentiate”
- 03:45 – You don’t always have to differentiate by changing your product, it’s just about how you pitch it to the consumers
- 04:06 – AirBnb gives you the opportunity to make money from your home versus HomeAway’s vacation rentals
- 04:54 – How would you differentiate a product?
- 05:35 – Marketing School is giving away a free 1 year annual subscription to Mixmax, a sales and marketing tool
- 05:52 – Subscribe, rate and review Marketing School
- 05:57 – Text MARKETINGSCHOOL to 33444
- 06:19 – That’s it for today’s episode!
3 Key Points:
- Offer your service in the way you’d use it yourself.
- Adjust your pitch to your consumers so that it is appealing and comprehensible.
- Try to create a better product than your competitors by making your product user-friendly.
Leave some feedback:
- What should we talk about next? Please let us know in the comments below.
- Did you enjoy this episode? If so, please leave a short review.
Connect with us:
Discover Latest Episodes
In episode #2291, Neil and Eric address why brands matter. A few episodes back, we spoke about the power of your brand story. Today, we discuss what it takes to become a brand leader in your category,...
In episode #2290, Neil and Eric discuss why Meta is adding more ad placements and what this means for you. As you may already know, Instagram is increasing its ad load with the launch of two new a...
In episode #2289, Neil and Eric talk about the key ingredient to successful ads. There’s a lot that goes into making ads that reach your audience, hook their attention, and make a lasting impression...