Step-by-Step: Differentiating Yourself from Your Competitors
Nov 12, 2024
Release comparison. Focus on your unique journey.
Concise and Actionable. Every Tuesday. This is Edition 30: Nov 12, 2024.
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Last week we talked about the steps involved in Rebranding. Step 2 was covered - Uncovering Your Strengths. This week's topic continues.... Step 3 of BRANDING.
Step 3 in branding is all about checking out your competitors.
It’s not about obsessively tracking their every move. It’s not about copying their strategies or feeling like you have to outdo them to get your audience's attention. And it’s definitely not about feeling intimidated by what they’re doing well.
Instead, competitor analysis is about observing their strengths, recognizing their weaknesses, and identifying opportunities they might be missing. This missing space is where you can shine by being yourself. 😁
Think of this step as a way to gather insights that help you understand how to stand out, not blend in.
It’s about seeing what works in your industry and using that knowledge to refine how to position your brand in a way that’s authentic, meaningful, and uniquely yours.
Here's how...
Step-by-Step: How to Check out Your Competitors
1. Identify Your Competitors
Start by making a list of competitors within your industry. Look at both direct competitors (those offering similar products/services) and indirect competitors (those targeting a similar audience with different offerings). Knowing who you’re up against will give you insights into how to stand out.
2. Analyze Their Strengths and Weaknesses
Examine what your competitors are doing well and where they may be falling short. Look at their messaging, branding, customer service, and overall presence. What value are they emphasizing? Are there gaps in their approach or areas where they miss connecting with the audience?
Checklist: Gather Information About Competitors (Evaluate Strengths)
- Messaging: What’s their core message? How do they connect with their audience?
- Branding: What are their brand values, voice, and visuals? Are they appealing?
- Customer Service: How do they support clients (e.g., personalized coaching, responsive service)?
- Content Quality: Is their content engaging, well-produced, and valuable to their audience?
- Authority: Do they have credentials, testimonials, or partnerships that build credibility?
Checklist: Competitor Analysis
- Identify Weaknesses Gap in Offerings: Are there services they’re missing or areas they’re neglecting that your brand can fill? Target Audience Disconnect: Is there a mismatch between their messaging and what the audience likely wants? Limited Personalization: Is their approach too generic, or do they lack one-on-one or customized elements? Brand Voice Consistency: Do they have inconsistent messaging or visuals across platforms?
- Assess Their Unique Value Proposition (UVP) What makes them stand out? Take notes on their primary selling points. Determine if these Unique Value Propositions are well communicated and if they truly serve a unique angle.
- Analyze Pricing and Offer Structure Note their pricing tiers and how they structure their services (e.g., packages, subscription options). Identify any upsells, downsells, or value-added services they offer.
- Review Customer Reviews and Testimonials Read customer reviews on their site, social media, or third-party platforms. Pay attention to customer feedback on strengths and areas of improvement.
- Evaluate Marketing Channels and Strategies Identify the main platforms they use (social media, blog, email, paid ads). Analyze the type and frequency of content they post and the level of engagement it generates.
- Look for Engagement Metrics Check their follower counts, likes, comments, and shares to assess audience engagement. Note if they have an active community or user base that you could also target.
That was insight into Step 3 of Branding:
Step 1: Understand Your Audience's Needs and Values
Step 2: Uncovering Your Strengths
(this newsletter) Step 3: How to Check out Your Competitors
(next week) Step 4: The Statement
Step 5: Proof
Step 6: Channels
Step 7: Adaption
Do you find that the more you learn about digital marketing, the more there is to learn?
Learning and implementing it all can feel overwhelming at times.
Look for me again next Tuesday. Be sure and check out more article links below 😲😲
Best wishes and much success to you,
Virginia Stockwell, Kajabi Tutor
Small Steps, Big Results ™️
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Additional Resources:
👉Free Download: Master Your Messaging
Build a Brand By Building a Community
How to Build the Best Community Ever
Step-by-Step: Designing an Online Program as a Coach or Consultant
How to Escape the Income Limitation of 1:1 Coaching
Entrepreneurship: What could cause a Failed Launch?
The Art of Designing a Monthly Membership Model (Step-by-Step)
Affiliates:
What's so great about Kajabi (30-day free trial)