You want a competitive edge on your competitors, right? We all know the best way to beat the competition is to create something, whether that “something” is a product or service does not matter. What matters is that consumers perceive whatever it is to be more valuable than that of the competition. Be it bundling services, combining products, changing your packaging or associating your brand with great customer service, there are thousands (if not millions) of ways to differentiate yourself from competitors by creating value. Merely meeting your competitors value creation is not enough, you want to beat your competition by exceeding your consumer’s expectations by delivering helpful and new products, services and experiences every chance you get!
Gaining an edge over your competition is easy if you continually create new and wanted value for consumers. Your main focus should be remaining relevant to your market and to your clients. You want to alleviate your consumer’s stress or discomfort in any way(s) possible and whenever possible. Make no mistake, simply fixing a problem is not enough. You have to cater to the overall market’s attitude. Does the market expect no holds return policies? How about free shipping? These are key areas that demonstrate why understanding your consumer’s expectations is essential to any value creation strategy.
The next question to ask yourself is “What is missing from the market?”. Do you continually find customers asking for certain products services or bundled packages? If so, you have your answer! If not, it is time to start reaching out to figure out what is missing. Even if you never find a “missing” market segment or product/service your efforts are not wasted. Simply showing consumers that you recognize their inputs and appreciate their feedback is enough to add value to your company and brand!
So, beyond the obvious benefits such as garnering some extra sales and boosting your brand’s awareness in the market why is creating value with marketing so important? The reason you want to create all of this value is because the more value you create the more likely you are to create an organic follower base. Creating a coalition of followers and brand representatives in a natural “grass roots” manner is essential to the success of any eCommerce business today. You’d be surprised how fast the word of a new “Hot” product or brand can spread on the internet.
For many, creating additional value through marketing can be difficult. Fortunately, this is where Fowara comes in! With a team of experts and over a decade of experience we know how to do it all!For those that want to try their own hand at this process we are releasing a “Driving Principles of Marketing” blog soon!