There are a lot of real estate agents, home builders, and plastic surgeons out there ? why do we choose one over the other? Usually it’s based on our perception that they are offering more of what we are looking for compared to their competition. When comparing several companies, the determining factor in our decision usually won’t be the same thing for every industry ? for example, you may want to find the real estate agent that will sell your home for the lowest commission but chances are that you don’t want to choose a plastic surgeon based strictly on their price.
So as a business owner, how do we use this information to our advantage? We decide what we offer that our competition doesn’t or can’t offer. Perhaps you are a home builder that specializes in building ultra exclusive homes?? instead of trying to reduce your price so that everyone can buy one, market them as something that not everyone can have. Not only will your existing consumers feel that they are getting more value by investing in one of your homes, the remaining consumers that are on the edge will convince themselves to stretch for it just to be part of that “elite” crowd. This can be applied to any industry, it’s just a matter of determining what separates you from your competitors and using that message in your marketing.
