Although you may have a killer product or service to offer potential clients, sooner or later, your business will be joined by others who make similar or better products. Also, with the rise of social media, it is getting more difficult to stand out from the crowd.
An approach marketers take that comes with multiple advantages, is to incorporate impact in your business’ strategy and marketing. When you define this impact and explain to potential clients what makes your product or service superior to the rest, only then will you be able to maintain your competitive edge.
Here are 3 ways that impact can give your business a better competitive edge:
How Is Your Business Contributing to the World?
In today’s industry, people of all ages are primarily focused on what a business is doing in the larger world. Is your business helping to make the world a better place? What is your business contributing to? Millennials want to make a difference with their purchases and their work. As a business wanting to target this group, your focus on impact will draw those clients and tilt their buying decisions in your favor.
It’s More Than Having Connections
In a competitive market and in those with established and well-regarded players, it can be very difficult to enter by merit alone or even by having connections in the industry. Having impact can give you that distinctive edge to set up the first meeting, and to be considered along with the long-time residents in that industry.
Strategy and Marketing
Your business’ focus on impact on strategy and marketing can help your company thrive. A thriving business, in turn, has more flexibility in your marketing spend and in your hires, which can contribute, greatly, to a greater presence in the industry.
Focusing on impact in your marketing and customer conversations, you will then become different and noticeable. This will give you that competitive advantage with clients in their buying decisions.