Since we believe that what we’re doing is so unique, everyone will have the same perspective and want our product. And since it hasn’t been done before, we think it’s just a matter of time before we get into the market that our product will be at the top of everyone’s mind. Wishful thinking.
“You have to position a product to cut through the clutter.”
It is really, really hard to create a unique product or service. Even when you do create something unique, there’s no guarantee you’ll gain meaningful visibility. Advertising and information overload is the norm. Whether you’re battling to reach consumers inundated with an endless set of choices for virtually each product or service, or corporate buyers overwhelmed by the number of potential solutions they review, it is almost impossible to cut through the noise. Cutting through this clutter, even with something head-turning and new, can be difficult.
Passion for their vision convinces many entrepreneurs that their product or service is so singular and exceptional that it will cut through the clutter on its own. Other entrepreneurs acknowledge the competition but believe that their improvements in the industry—better product, more efficient service, better design innovation—will cut through the noise. Some may believe a clever strategy is enough to out-maneuver the competition—even when the competition comes from some of the largest and well-funded companies. “We will understand the competition, analyze their marketing and we will just do it better and more creatively. We will take them head on and let our uniqueness shine through!”
There are companies that have successfully faced off with the competition and come out the winner. That said, entrepreneurs need to ask themselves a difficult question, and understand their business well enough to give an honest answer. They may have a unique, newly improved idea, but do they have the differentiation, capital and resources to beat the competition at their own game?
Find out more about product differentiation strategies to make your product or service stand out.
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