Event marketing firm Evoque Innovations outline why differentiation in business is essential for gaining more customers.
Without differentiation, all businesses that sell the same product or service would be in direct competition with one another, explains Evoque Innovations. Business differentiation allows a business to position their products so that consumers can distinguish between those that are offered by one business and those offered by the competition. The key is to differentiate a business based on points that consumers value as important when making purchasing decisions.
Over the past decade brands perceived as ‘different’ by consumers have grown by 336%, compared to just 23% for those that are perceived as less differentiated. For example, it has been argued that consumers might think Samsung’s mobile devices are better engineered but it is Apple’s products that resonate in a “more meaningful and differentiated way” because of the brand that has been created surrounding the company.
Likewise in retail, it is the discounters and ecommerce brands that have disrupted the market by offering consumers new choices. Examples in retail show that over the past year Aldi has climbed 10 places, increasing its brand value by 22% to $11.7bn, while US discounter Costco enters the top 100 for the first time in 97th place with a value of $11.2bn.
A business can differentiate its products and services based on a range of different factors such as price, quality, usability, convenience and service. An emerging trend is for businesses to differentiate based on environmental sustainability. Businesses can choose to either offer a complimentary range of environmentally sustainable options alongside their existing products, or choose to make their entire operation more sustainable from the ground up.
Evoque Innovations differentiate their clients’ brands from the competition through the marketing and sales techniques used. The firm creates tailor-made and unique event marketing campaigns that are specific for their clients’ needs and customer values. The firm pride themselves on their ability and willingness to listen to what the market wants and they tailor their campaigns to meet specific needs. The firm differentiate themselves because they put audience engagement at the heart of every client strategy. Through research and insight, Evoque Innovations are able to identify opportunities that will allow their clients’ brand to speak in a language that connects to mass audiences and sets them apart from the competition.
Evoque Innovations is a start-up marketing company focused on driving real results for all of their clients. They offer event marketing services and reporting tools enabling clients to take a hands-off approach to their direct marketing.