Will You Beat the Competition?

beat the competition

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Is your business unique enough to beat the competition?

The healthcare industry is an extremely competitive environment with many different options for patients seeking care. In order to become a viable competitor and possibly a market leader, you must identify what sets your business apart from the others and build awareness about your differentiation through marketing. Keep reading to learn how you can start to beat the competition!

Identify what problem your business solves: Knowing what problems your business can solve for potential clients is important when creating your marketing plan. This will help you create a targeted message to attract the right people who are looking for the solution you provide. A lot of companies know what they do, but they do not know what actual problems their business solves. If it doesn’t solve anything, there isn’t a place for it in the marketplace.

Identify Your Business’ Value Proposition: What does your business excel at and what value will you deliver to your customers? By identifying what value your business can offer, you can attract quality leads, and let them know the reasons they should choose you over the competition. Below are the types of value propositions that your business can follow to help you beat the competition:

  • Customer Intimacy: Not only do you provide customers with the best experience possible during any interaction, but you also keep them fully engaged by communicating with them through many different channels. Your business strives to create relationships with your customers and give them the best product/service for your targeted segment.
  • Product Leadership:  Businesses that chose this value proposition are always one step ahead by providing a quality product or service that is innovative and unique, delivering the best solution for customers. Your business is constantly working on bringing the next best thing to the market.
  • Price (operational efficiency): A value proposition of this kind means your business runs efficient operations while keeping costs low, allowing you to provide a quality product or service at the lowest possible price for your customers compared to the competition.

Identify Unique Selling Point: Determining your value proposition can help you identify your unique selling point that will give you a competitive advantage. In order to stand out, you need to be aware of what sets your business apart. Compare your offerings to those of your competition. Do you offer something that the rest do not? Do you do something better in certain areas where your competition has weaknesses? Do you have a product or service that cannot be easily imitated? Asking these questions about your business will give insight into what could be your unique selling point.

For more on unique selling points and for some examples of businesses who have one, read What a Unique Selling Point Really Means and Why Your Business Must Have One.

Stick with it!

Once you have identified these points above, be consistent with your message in all aspects of your marketing. Developing a Marketing Plan is critical to sticking with your consistent message. Interactive elements such as your email marketing, social media, and all other customer interactions should all convey the same message of what makes you different from the competition. Even creative elements such as your logo, slogan, print collateral, etc should be consistent as well. Your value proposition is the core of your business and everything you do needs to support it.

 

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