Do You Take Advantage of Your Point of Difference?
If you are an owner or manager of a restaurant, bar, or eatery you know that sales is the lifeline of your business and essential to your success. But, in an industry where the competition is so similar, how do you stand out? You do it by identifying and marketing your point of difference.
Your point of difference is the very specific, positive way your establishment stands out from your competitors. If you want more customers, you need to know what your point of difference is.
What is my point of difference?
It’s not simply that you sell hamburgers and they sell hot dogs. You must consider factors like cost, variety, convenience, etc. You must know both the good and bad ways you are different. If you’ve learned through feedback that the ambiance is great but the service is poor at your establishment, then you can devise a system to fix that. Knowing your point of difference not only gives you marketing strength, but it also provides great insight into the operation of your establishment.
How do I create my point of difference?
When it comes to creating a point of difference for your establishment, it’s not possible to design a one-size-fits-all approach. First, start with a list of possible reasons people would purchase from you. After eliminating all the items that your competitors share, or do better than you, you will have a shorter list. These are your points of difference. Note, if your only differentiator is that your business is new, you’re in trouble. That is not sustainable.
Why do I need to establish my point of difference?
When you market your point of difference, you have a golden path to sales. You can market what makes you stand out to ensure new and potential customers know what makes you the best option. Use your website, business card, social media profiles, and menu to highlight your point of difference. Mention it everywhere you can!
By defining your point of difference and marketing it well, your business will be easily noticed, even in a saturated market. Moreover, you’ll be able to answer the questions every customer asks: “why should I buy from you?”
If you would like to discuss strategies for identifying and marketing your points of difference, schedule a free, no-obligation consultation.