One of the most obvious aspects that has led to the conversion and birth of thousands of companies in the digital world, and which is becoming more evident every day, is the homogenization of business models, and more specifically, the homogenization of.
Carry out a peripheral analysis
Digital companies, regardless of the sector, you will observe that many of them have ended up offering the same products and services, with a similar price, identical sales channels, similar structures and web designs (very similar themes), presence on the same social networks and identical purchasing processes.
Digitalization opening markets
Multiplying audiences, is equalizing offers, and therefore brands.
Brands in the digital environment are losing focus and are gradually forgetting to center their online marketing strategies on promoting what really makes them different from their competitors, from other brands… those characteristics that are difficult to imitate and that are perceived with a certain value by the potential client.
Brands have focus on other relevant
Aspects such as web development, e-commerce platforms, social networks, display campaigns, SEO and SEM actions… but what has happened to the real reason for your business?
Now we are all visible
The web, that we are all “equal” and accessible, it is time to take a firm step forward, a step that leads us to the search for differentiation, to be truly different, because it is not enough to have quality content or a nice design or to have 50K followers to achieve the long-awaited goal of conversion, of conversion oriented towards sales.
But then you might ask, what are we talking about?
Well, a critical lever in business strategy, a critical lever in marketing strategy, whether online or offline: competitive advantage .
Definition of competitive advantage
When we talk about “competitive advantage” in the business world, if you type it into Google, you will see that thousands of results will appear related to and his book Competitive Strategy: Techniques for Analyzing Industries and Competitors .
Porter, a business strategy guru, studied and mentioned in all business schools, in the late 1980s (1985) focused his theory on the competitive advantage of the company understood as value (always associated with concepts of costs and profitability), a value that should respond to two vital questions to be raised by any business model:
The company guarantee and perpetuate
Therefore, an accurate definition, oriented towards marketing, could be to understand competitive advantage as:
The value that a company is able to generate, directly proportional to how much customers are willing to pay.
Obviously, companies seek a value
greater than the total of all costs derived from the product/service, so that it is profitable, achieving a certain competitive position in the market.
With this post we want to transfer this competitive advantage approach directly to our online marketing strategy.
How many attributes does your brand have that generate value for your potential client that your competition doesn’t have?
A competitive marketing advantage should look like
But focusing the marketing strategy on competitive advantage has certain difficulties, because sometimes, having lost focus, it is not easy to identify it and it takes some effort to redefine it.
For this reason, we give you some clues as to what a competitive advantage should look like:
Must always directly relat to a key facto
for the company’s success in the market.
– Be highly relevant so that it really makes a substantial difference compared to the competition.
– Be sustainable over time, in the face of changes in the environment and the actions of competitors.
– The value of competitive advantage must always be able to be translated into greater profitability for the company.
– Durable, even though it can be readapted to possible changes, it must
Generate a competitive advantage in marketing
To try to define competitive marketing advantages, we are going to refer to the guide book that all marketers should read, Marketing Fundamentals which if I remember correctly is in its 11th edition.
On this occasion, Kotler points out four possibilities for establishing competitive advantages in marketing based on the marketing mix:
–Differentiation by productservice : based on the search for unique and differentiating attributes of our product service with respect to the competition. Some examples are the secret formula of Coca-Cola (which gives it its characteristic flavour) or the new silent Bosh washing machines, which “create silence”. We can also look for additional services for the product, such as the guarantee that KIA gives on its vehicles over 10 years old or “Calgonit” which is the only one recommended for all appliance manufacturers…..
Differentiation by companybrand image : at this point we will try to differentiate the brand itself, through tangible or intangible attributes, values or relevant brand meanings that make us stand out from competing brands. A clear example is BMW and its “Do you like to drive” campaign; we quickly associate brand and attribute: or for example the low-cost company par excellence, Ryan Air.
–Differentiation by channel :
innovating in all channels, whether distribution, marketing, direct or indirect… a clear example is Apple, with its Apple Store that revolutionized digital purchasing; or VISA that wants to establish a new payment channel via NFC, directly with the card; or for example a neighborhood cinema that allows the customer to present their mobile ticket, purchased online, to enter the theater.
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– Personnel differentiation : in this case, differentiation would be based on having the best human and professional team working in the company, from customer service to the operations department. [/box]
Of course as marketers
We can look for other competitive advantages in our business model based on other areas such as manufacturing processes, R&D, operations and even the financial area.
When designing an online marketing strategy, today more than ever, we must clearly define the competitive advantage(s) that our digital business model will bring to the potential client, and therefore what attributes will be present in the design and development of the entire action, operational and tactical plan.
More, competitive advantages
Must applid and maintained in the the essential oils extracted medium and long term, as we have told you, so they will affect not only the brand, not only the marketing strategies but also the strategic planning of the entire company.
Well-defin competitive
Advantages, worked aleart news on from a marketing perspective, will give us a better chance of survival in this digital maelstrom in which companies and projects are born and die every day.
