|
Let me start todayâs newsletter with a simple question: Have you ever wondered why Uber became the go-to ride-sharing app, even though traditional taxis have been around for ages? The difference isnât that Uber offers the same service. They donât. Instead, Uber solved customersâ problems in a whole new way. What I mean is, traditional taxis had their issues:
So what made Uber so smart? They fixed these problems with a simple app that lets you book rides easily, see where your driver is, know the exact price, and pay with your phone. This strategy worked incredibly well, and now Uber operates in 70 countries. What happened here is they solved the customersâ problems differently. And itâs called the âDifferentiation Strategy.â Well, whatâs that? In simple terms, a differentiation strategy means standing out by solving your customersâ problems in a unique way. Instead of copying competitors, you innovate, offering something they donât. Why does this matter to you? When you offer something special, people who need it will find you. Look at Uber. They made getting a ride easier while regular taxis didnât change. You can find ways to make your business special too. Even if there are lots of other businesses like yours, you can still come up with new ideas. Uber didnât try to be just another taxi service. They made getting a ride totally different. You can do this too by finding problems that others havenât fixed yet. This makes customers stick with you. Theyâll remember you as the one who helped them in a way no one else did. So, how can you apply this strategy to your business?
You can start by researching your competitors. What are they doing that your customers dislike? Then, brainstorm ways you can solve those issues in a different (and better) way. I hope this helps you think of new ways to make your business better, even if youâre planning to start one this year. If you need a clear roadmap to create your small business marketing plan for 2025, take a look at my free guide here. Cheers, Minosh. |
Business and marketing insights from smart founders, researched and handed to you every Thursday.
Everyone sees a founder go viral and thinks thatâs the way to do it. Post every day, follow the trends, grow your audience, and customers will come. So they start posting. Nothing happens. They post more. Still nothing. Then they quietly give up and blame themselves for not being âconsistent enough.â But hereâs the thing. The problem usually isnât the content. Itâs what they expect social media to actually do. I recently read an article about two teenage founders, and what theyâre doing with...
I used Canva before I had a reason to. Not for a business. Not for any strategy. I just liked designing things, so I kept opening it. Back when it was still pretty new, before there were tons of templates like there are now, I was in there making things that probably nobody even saw. No plan. I just did it because I enjoyed it. Fast forward a few years, and Pinterest became a serious part of what I do at TalkBitz. And the thing I didnât expect was this: I didnât have to learn design when I...
Almost every side hustle tip starts with the same line. âJust find 30 minutes a day.â And I get it, 30 minutes doesnât sound like much. It sounds like something anyone can manage between dinner and Netflix. But hereâs the thing. Pew Research just dropped data showing that women in their 30s and 40s spend about 52 more minutes a day on housework than men in the same age group. On top of that, unpaid responsibilities like caregiving don't stop when the workday ends. And when you add it all up,...