A Brilliant Competitive Advantage =
More Money in Your Bank Account
Simply put, a competitive advantage is the reason why prospects should do business with you instead of your competition; it is what you have (or do) that they don’t.
When someone asks you "Why should I do business with you instead of your competitors", what is your answer? It should clearly be your competitive advantage.
So, what are typical competitive advantages? Well, more than 90% of businesses will tell you they provide better customer service or quality products.
However, with over 90% of businesses touting service or quality as their competitive advantage, prospects don’t believe it and it falls on deaf ears. Look at your own habits... how many companies do you do business with simply because their sign said "Best Service in Town"?
The point is, NOT to use service or quality as your competitive advantage. Get more creative...
Competitive Advantage Examples
Your Exclusive Source For X
Lowest Price
Using Only Premium Materials on Every Order
Free Add-on Service or Product
Free Phone and Fax Consultation
Free 90-Day Check
10th One Free
Oldest
Newest
Open weekends, 24 hours, etc.
Mobile Services
Guarantees
Same-Day Service
Uniquely Qualified Employees
It’s Done Right or It’s Free
Largest or Smallest
NOTE: If after reading all of the above, you still feel like better service or quality really is your competitive advantage, then just be very specific. WHY is your quality better? WHY is your service better? For example, better service could mean you are open 24 hours, provide mobile service, or make all employees pass a customer care certification program. Better quality might mean you sell only products you personally use, or maybe your services are guaranteed to be free if they don’t live up to prospect’s expectations. The specifics – not the general terms quality and service – are your competitive advantage in these cases.
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