Think about your favourite airline or a product you use every day and the supermarket you feel most comfortable shopping at. Now think about why you keep going back. What is it that this business delivers? The airline most likely sells similar seats, with average legroom, at around the same price as their competitors. The product you love probably doesn’t have more features than another leading brand’s. The supermarket stocks many of the same things as the one at the other end of the street.
And yet somehow this business or brand gave you reasons to choose them.
Try this.…pick one brand, cafe, app or store that you wouldn’t want to live without and make a list of the reasons why. Now stand in your customer’s shoes and make that same list for whatever you sell, design, develop or serve.
How are you creating value beyond components, ingredients, features and benefits that your competitors could copy tomorrow? Your competitive advantage may not be as limited as you think.
Image by Unsplash.