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Inspired Method

Edmonton Marketing | Differentiation Factors

Hi, welcome to inspired method Edmonton Marketing. And we’re here today to talk about differentiation factors. My name is Karen and this is Matt has been forever and we are cofounders of Inspired Method Edmonton marketing. So today I’m going to start with another quote and it goes like this. If you don’t have a competitive advantage through that, that’s Jack Welch machine. So the statistics say that one in every six workers in Alberta is self employed. That’s crazy. That’s a lot. So the customer comes to us thinking that the only differentiation factors is having the lowest price, think Walmart.. Then they wonder why they’re going broke. So speaking on that it isn’t price that is the most important decision making back into your buyers. 

A lot of business owners when they get started, they think that that’s the deal. Like if I’m, if I just felt there, I know that I’m awesome, I’m the best, you know, whatever widget maker in the world. But if I just have to have a price lower than the nearest competitor that I’m good old mill in, the marketplace doesn’t happen. Um, so no rice is not the most important factor. And that’s why a lot of companies, they start out and they think they’re just going to do. So I was like, Oh man, if I get a chance of the market share that’s like 200 businesses and I’ll be like a millionaire in like 10 months. They choose a bunch of hooey because if you wanting to be the lowest price person out there, that always, always some dummy who wants to go alone. Yeah.

It’s just a race to the bottom. That’s all it is. Exactly. And what’s in the bottle? Nothing. Empty barrel. So how can you prove to people that price isn’t the only thing that buyers care about? Well it’s pretty simple. No rolling. We have a lot of variety in the marketplace. You can either buy a Toyota Corolla or you can buy a Mercedes Benz or you can buy it roles, voice. Those are cars. They all have four wheels, a steering wheel and a, you know, two to four seats and they gets you from point a to point B. If price was the only differentiation, then everybody would just own Corolla cause it’s the lowest price thing out there in that, in those three examples I gave you and just think about the watch clothes, your shoes, your house, all those things that you bought. Did you buy them the just because they were the lowest priced thing out there? Absolutely not. It was because you found that the product, it fit your taste, you style it, fit your personal preferences, gave you a lot of value and you could afford. So about on on the scale of one to 10 price isn’t about three or four.

I think you’re right. Is it true that buyers will pay more if you differentiate your product or service? Yes, absolutely true. Um, when you think about talking, pick them over a restaurant. Okay, we’ve, we’ve had this experience ourselves, we’ve gone to restaurants and you go in there and you’re thinking, oh man, this is going to be such a nice dinner family and you order your dinner and you know the weight, the server is like an attentive kind of moody doesn’t come around to your table very often. The food is cold, it’s wrong, and they blame you for it. Um, you don’t have the bathrooms are dirty, all of that stuff. And you leave thinking, why did I pay for that? Right? And then you pay just more, go to a nicer place and they are bending over backwards for you to make sure that you have a nice experience.

And um, I remember one time we went to a restaurant just recently and we noticed there was something floating in your wine and it was like you’re looking at it and trying to figure out what is that something or is that last? And they gave us the bottle of wine, a whole bottle, the whole bottle of wine because they, it wasn’t up to their standards. So you pay a little bit more, you get a higher level of service and the result is back. Yeah. Right. So yeah, you definitely, you have a little bit better service, a little bit better product. People are willing to pay. So when it comes to Edmonton Marketing how can businesses focus on a particular niche to differentiate themselves? 

The best way to do that. Let’s, let’s look at a couple of examples. Let’s see that you are a dentist. Okay, now you can be a dentist and put out your shingle. Dentists and people will will come in and get their teeth done. Pretty low key. But what if, what if rather than just being a dentist, you are a pediatric dentist suddenly that just to look after children who look after kids and of course, but what if that was your specialty? Taking care of people who are either afraid to go to the dentist or small children and that is your specialty and people know that you’re the go to place. Like you’ve got the whole whole thing set up for children to come and get their key flipped out and you have, you know, a space in there for them to play and learn about dental care and everybody in your staff is wearing like no Disney themed outfits and they’ve got, you know, funny gears on and whatnot. Just strictly designed for that. You know what? You’re going to get every single mother in the city coming to your place because they want their kids to not be scared of the dentist. Right? Right. So that’s one way that the more companies can just think outside the box and narrow down and become a specialist that to a certain audience and more mobile than busy. Hmm, that’s true.

Can businesses use unique features and quality of service?

yes. Absolutely. So, um, you can think back to the niche question. You can have a product that is specifically designed for people who are celiacs or have issues with gluten or 100% organic. You can really find a unique Edmonton marketing having a specific feature to your products. How about location? Can it be used as a differentiating factor? Oh, completely. Especially if you are a, let’s say a restaurant or a retail place and you’re located in a high traffic area. Take for example. Um, we have a new shopping mall center that is a specific Braun and mag and not only for locals but tourists. So having that it’s very special. Or if you’re centrally located, like we are her right in the heart of downtown, you get to come here, free parking up front. So all those factors alone make it super easy for people to the videos.

Oh Great. Yup. So how can businesses leverage their facilities, their equipment and maybe your software to differentiate?

Yeah. I keep going on the dental team cause it’s on my mind. But if you have let’s say a a special, uh, equipment in your office that allows you to take a three d picture of people’s teeth so that you can, uh, sell them, uh, to straightening products. I’m not going to say the brand name because they’re not paying for this, but you know what I mean. People can see where their teeth are now and see what they’re going to look like later. And that’s one example of having some special products, software that can really help you create that differentiating factor.

Yeah. I can actually think also another example, not saying the name, like a big store that you can see the furniture and its place and you can decide, yeah that looks good in my house and use their facility. Showcase that to differentiate yourself is it becomes a whole experience.

Absolutely. So setting up full living spaces because they have so much room and it’s amazing. You can never get out. Thank you. Notes,

stories. So how’s branding and Edmonton marketing a differentiation?

well I think about the big brands that are out there. Coca Cola, Ikea, apple, red bull, Walmart. You immediately identify those brands, you know, anywhere on the planet where you experienced any one of those brands. You know exactly what you’re going to experience. So sometimes the brand is worth more than correct.

So, uh, can you provide some examples of companies that use convenience as a differentiator?

Oh, absolutely. Some of the big disruptors that we’d been hearing about lately, companies like Uber, Uber, when they do, they took over the, the people delivery service by making it easy, convenient, and clean. Right. His calves really suck there. You called him, you got to wait half an hour. You never know where they’re coming from. You, they charge you five bucks just to sit in their tab and then you know that the meter running. Anyway, they’re just sitting there. Whereas Uber, you look up that the APP right away, Palumbo, Bonita. Exactly. Estimated cost to get there and it’s easy. And then there’s these food delivery services and greets the one Sydney sucker, I’m sorry, skip the dishes. Other companies, he’s like that. You know, Amazon, Amazon was a huge factor in that more people are buying an Amazon then in retail stores and he completely made it super easy to buy things and get it shipped. Yeah, it’s totally disruptive how I do things for sure. In a good way. Will people pay more for experience personnel? Yeah, absolutely. I mean, would you rather a surgeon who is operating for the first time on you or an experienced plastic surgeon who’s done like 10,000 of the same operation? You tell me.

I don’t think price is the differentiating factor. No, you’re right. Yeah, that’s actually a very good point. Well, why are people willing to pay more for flexible payment terms?

Well, if you think about it, most people don’t buy things lump sum. Like when you buy a house, no lump sum. Typically for most people the average person goes on payments. So for their vehicles or cars or you know on the credit cards, like everything is payment based. So it just makes sense. If you have some kind of flexible payments, you know, to two k three pay or you have it stretched out over a 12 month period, it just makes sense for most people and it makes it easier for them to become a buyer rather than say, okay, you know what, you go ahead and you save about $15,000 and when you have that so you’ve got me to come back and buy it. That makes no sense at all. Especially in case it’s within your budget. These organizational longevity and reputation, something that fires considered.

Yeah, definitely. Um, how many years you’ve been in business shows that you know what you know you’re doing, you have good systems in place, you are trusted because you’re still in business. After a long period of time and then reputation. More and more people are looking online for reviews and recommendations before they make any buying decision. So it’s super important and is a great differentiating factor for any justice who is looking for, you know, how they stand out. Great. Well thanks for giving us some great run down there on differentiation factors. I think you guys got something out of this.

 

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