A great way to stand out from your competitors is to be where they aren’t. Lee Frederiksen says these three underutilized differentiators will set you apart in a way that is both important and relevant to potential clients.
Transcription:
Hi. Today, I wanna talk to you about three underutilized differentiators. Now, we’re all trying to figure out how to differentiate our firm. And one of the good ways to do it is look where people aren’t. Kind of think like blue ocean strategy, you know, something people aren’t doing.
1. Understanding a particular target audience
The first one is focusing on understanding a particular target audience. Now, let’s say, for example, that target audience might be baby boomers. Now, it’s a broad target audience, but if you understand how they think, how they’re making decisions, think about all the potential clients you could have, whether it be insurance companies who’s trying to reach them or a healthcare provider or a retirement home. So the audience.
2. Specializing in clients that share a common characteristic
Now, there’s another variation on that that’s also kind of interesting, and that’s the second one. And that is specializing in clients that share a common characteristic. Now, that characteristic could be something like they’re all expats or some other thing like they’re all just finishing college. And even though it’s a pretty broad audience, there is a common characteristic, a common experience that they’re all going through.
3. Offering a unique business model
Finally, the third underutilized differentiator is offering a unique is offering a unique business model. One of our clients, for example, was in the executive search business. But rather than working for the firms who were trying to find the executives, she began working for the executives, almost like a sports agent. So it flipped the business model upside down.
So these are three of my favorite ways to differentiate that are uncommon. And, after all, that’s important.
So if you want to dig deeper in this topic, go to hingeuniversity.com/differentiation. And check out the Differentiation course. It’ll tell you all about how to go about differentiating your firm.
