If you’ve been a business owner for any length of time, you understand that there isn’t just ONE factor that contributes to the success of your business! There are generally several ingredients to success including strategies like having a clear vision for what success looks like for you; strategies around employees & teams; financial strategies and even customer service strategies.
But in my opinion, one of the smartest investments you can make in your business is having a finely-tuned differentiation strategy that brings you consistently the right kinds of clients for your business. But what is a difference strategy and how is it different from a marketing plan?
Typically, in business, a differentiation strategy gives you a comprehensive overview of your POSITIONING in the marketplace. Or in other words, how you are positioned in your prospects’ minds compared to your competition. A differentiation strategy is about what makes you stand out and get noticed. Your differentiation strategy would then incorporate not only a competitive analysis but also research into the needs and wants of your target audience. It would outline your strengths and weakness compared to others in your field, as well as identifying where you want your business to be in 3-5 years.
As I read recently – the best part – a differentiation strategy lays out what you are NOT going to do! For instance, a differentiation strategy might have you re-think:
- Your brand’s core values
- Your offerings or even your dream client profile
- Projects that you love or didn’t love
- Programs that didn’t make you enough money or
- Tactics that don’t feel right for you
Let’s also be clear what a differentiation strategy isn’t! A differentiation strategy isn’t the plan for how to get something done. A differentiation strategy may include tactics but tactics flow from the strategy and are the steps we use to achieve the strategy.
When do you need a differentiation strategy? Just like the best time to have planted a tree is 20 years ago, the 2nd best time is now. You need a differentiation strategy NOW! It’s the end of June and we have already completed 6-months of 2021. The marketplace is changing – and it’s changing dramatically as we slowly recover from COVID. So, it’s time to analyze … How is your brand positioned in the minds of your dream client TODAY? (Because the market has changed in the last 6 months, we should all be looking at tweaking our marketing strategy).
In other words – how do you STAND OUT & GET NOTICED?
Okay – once you’ve reviewed your differentiation strategy then it’s time to create the plan.
Your marketing plan lays out the goals you want to achieve and the timeframe to make it happen. At a high-level it might be to triple revenue in three years, expand your team by X or launch a new program, product, or service, etc.
Your marketing plan is a list of steps that you’re going to take tactically to achieve those goals. So, if you want to triple your revenue in three years, at a high level your tactics might include:
- Completing a pricing audit to confirm price increases
- Create a launch plan for new a program
- Engage a new target market
- Introduce new & updated messaging on website & other marketing assets
- Use advertising to increase reach
So… let’s boil this down! In order to have a consistent flow of dream clients, you need both:
- A differentiation strategy and
- A marketing plan
And that’s what I want to share with you today – the same basic resource I use with my private clients! Download it here … Your GPS One-Page Differentiation Strategy and a One-Page Marketing Plan that will guide you to have a consistent flow of those profitable dream clients. This resource will help you identify your positioning in your field/industry (strategy) as well as increase your marketing proficiency.
Have fun filling in the blanks and creating your strategy & plan for the remainder of 2021.
YOU CAN DO THIS
P.S. If you or someone you know would like support to complete their strategy and/or plan, please feel confident to book a complimentary Marketing Acceleration Session with me right here.
P.P.S. Due to Canada Day, there won’t be a FB live training; however, I will do a video based on this resource and will post it shortly to my YouTube Channel.
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