That is THE BIG SECRET of profit optimization...if you would like a line of customers in your door - give them a much better reason to be there than in your competitor's doorway.The "better motive to be there" is the Particular Complex Distinction (UID). Frequently, you can make this differentiation on a shoestring! It doesn't need to be an expensive scientific breakthrough. It can be an easy, inexpensive differentiation.Query--what happened to Polaroid? AOL? Blockbuster? Commodore Computers? Sharper Image? MySpace? Eastman Kodak? Sears? Borders Books? Sun Microsystems? Montgomery Ward?These firms were bubbling with innovation and success. Now, they are gone or fading fast.Why?Largely because they did not have a system set up to require that invention be an integral core of their business. A system is your answer (or at least, a significant first step).
The best marketing in the world won't compensate for a failure to innovate.How will your Business stick out in an (aggressive) audience?You must innovate or die. It isn't just for tech companies. It is for every company. Marketing and innovation must go awry."Innovation distinguishes between a leader and a follower."The Classic Example of a Fantastic Unique Innovative Distinction (UID)Everybody knows his unique innovative distinction: "Fresh, hot pizza delivered in half an hour or less, guaranteed." It was a vibrant combination of two highly desired consumer benefits:
1) a very unique, concrete, no-ambiguity distinction - "30 minutes or less" (not "quickly," not "fast," not "rushed to a door"-a particular delivery period; and 2) a guarantee. That unique distinction took Tom from a failing company to one that quickly dominated his local place, then his nation, nation, and the world!I heard Tom speak at an Inc. Magazine conference some years back. He said that he discovered this distinction because he talked to his clients and asked lots of questions. It because clear very quickly that speed has been the exceptional benefit and advantage that lots of people wanted.He started step 1: find a particular set of systems which can produce and deliver a pizza as swiftly as possible. He experimented with a variety of methods of preparing and delivering. He analyzed various ingredient selections, pre-preparation methods, in-store working systems and logistics, cooking techniques, delivery approaches, geographic limitation, etc. until he found the right combination. From ordering phone call to delivery driver knocking on the client's door was 24 to 28 minutes.
Then step 2: articulate that the customer advantage in conditions which clearly demonstrate the exceptional advantage and beneficial result. The best, elegantly, the simple answer was: "Fresh, hot pizza delivered in half an hour or less, guaranteed." Tom mentioned that, in the moment, there were a lot of his competitors who'd advertise things such as: "Great tasting pizza, delivered quickly." Domino's exceptional articulation fueled the growth of a tribe.I can only assume that the empire now continues to innovate systemically. Now, it's not too much product innovations because it is operational and marketing innovations.
Innovation is everything and anything that you do that distinguishes you from your competitors in a way that your client likes and values. It doesn't have to be a costly technological breakthrough. It's any distinction which brings to your clients greater value, benefit or advantage that they desire. Find a way to delight and enthuse your clients.For example, you provide training courses for your products, your competitor doesn't. Your competitor provides an email-only help option, you provide 24/7 friendly, useful, technical support. You offer clients a fun and fun in-store experience -- contests, drawings, product demos, sample give-aways, product comparisons, big action-posters, large screen TVs with action/adventurous movies, new-just-arrived-product presentations and fun/educational events that are entertaining to your retail customers, while your competition offers just a salesperson who says: "May I help you?" You offer a purchaser loyalty program that draws back your customers and is perceived as a high-value reward while your competitor has none.