Most businesses exist in the trap of better, which is a race to commoditization; more of the same. There are no shortage of books, blog posts and articles on how to differentiate a business. There really isn’t a surefire guide on how to achieve game-changing differentiation, but there are principles. How can you differentiate your business?
There are many ways a business can differentiate itself, the most powerful being the business model. But business model innovation is rare, and usually results in the disruption of the status quo; think of AirBnb, for example, who created a new category and changed the game. A more common approach to differentiation is playing around with the components of a business model: value proposition, pricing, customer segments, marketing channels, revenue model, ways of partnering.
Below is an infographic, created by Category Pirates, The Ultimate Guide For Category Differentiation where they summarize 8 levers your business can use to create category differentiation. Check it out!
The 8 Category Levers For Category Differentiation
- Radically different benefit (for a radically different problem)
- Radically different brand
- Radically different experience
- Radically different price
- Radically different manufacturing
- Radically different distribution
- Radically different marketing
- Radically different profit model