How to Differentiate Your Product or Service in a Highly Competitive Market | Ep. #285

In Episode #285, Eric and Neil discuss how to differentiate your product or service in a highly competitive market. Tune in to find out the 2 main strategies that will set you apart from the rest and the importance of having a product that is user-friendly.

Time Stamped Show Notes:

  • 00:27 – Today’s topic: How to Differentiate Your Product or Service in a Highly Competitive Market
  • 00:40 – Eric’s agency charges more than their competitors but there’s a reason for that
    • 00:50 – Other agencies charge less and will hand your account to juniors who don’t know what they’re doing and are still figuring things out
    • 01:11 – You end up losing money
    • 01:22 – All of Eric’s people who work with an account have a couple of years’ experience
    • 01:29 – Eric gives access to 3 channels: AdWords and Facebook are two of the channels
    • 01:37 – Eric himself strategizes for the accounts
    • 01:43 – Eric’s agency is different because they bring new ideas
  • 02:04 – Two main strategies of Neil’s are creating a unique angle and adjusting your messaging
    • 02:10 – For creating a unique angle, you choose between Neil’s agency and a big marketing agency who usually hires new graduates
    • 02:46 – Do you want to trust your account with a new graduate or with a small boutique agency where you can work directly with the owner
    • 03:35 – Figuring out a specific angle is the “easiest way to differentiate”
    • 03:45 – You don’t always have to differentiate by changing your product, it’s just about how you pitch it to the consumers
    • 04:06 – AirBnb gives you the opportunity to make money from your home versus HomeAway’s vacation rentals
  • 04:54 – How would you differentiate a product?
    • 05:00 – Neil’s Crazy Egg may not have all the features that everyone has, but it’s easy to use and it’s accurate
    • 05:09 – Crazy Egg is easier to use than Hotjar
    • 05:27 – Neil’s market loves Crazy Egg
  • 05:35 – Marketing School is giving away a free 1 year annual subscription to Mixmax, a sales and marketing tool
    • 05:52 – Subscribe, rate and review Marketing School
    • 05:57 – Text MARKETINGSCHOOL to 33444
  • 06:19 – That’s it for today’s episode!

3 Key Points:

  1. Offer your service in the way you’d use it yourself.
  2. Adjust your pitch to your consumers so that it is appealing and comprehensible.
  3. Try to create a better product than your competitors by making your product user-friendly.

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