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<\/div>A strong brand identity gives companies a huge competitive advantage. Here's everything you need to know (a definitive, 20,000+ word free brand identity guide)<\/p>\n
<\/div>Read More<\/i><\/a> Airbnb underwent a much-talked-about visual rebrand<\/a> in 2014.<\/p>\n Airbnb changed its logo, fonts, and color palette to convey inclusion.<\/p>\n The new Airbnb logo (the “Belo”) combines four principles\u2014people, places, love, and Airbnb\u2014represented by a simple, stylized “A” shape.<\/p>\n And to underline its brand message of warmth and inclusion, Airbnb chose a pink-red colorway. This palette conveys a sense of love and nurturing – a unique brand position in the travel industry.<\/p>\n When faced with a shelf of products or similar services, what motivates a person to choose one product or service over another?<\/p>\n The answer: product differentiation<\/a>.<\/p>\n Product differentiation doesn’t mean the product is completely different from similar products on the market but has at least one element that distinguishes and elevates it from others. This can include features, quality, design, packaging, and more.<\/p>\n Product design<\/a> is both an art and a science. Most people can’t build a strong brand selling products (or services) that are commodities. But, differentiated products (or services) can help you gain market share.<\/p>\n There are three types of product differentiation:<\/p>\n Product and service differentiation matters because hundreds of new products and services enter the market daily.<\/p>\n When faced with too many choices, none seemingly better than the next, consumers are often overwhelmed and walk away.<\/p>\n This is why it’s so important to highlight your product’s unique selling proposition.<\/p>\n When it comes to setting prices<\/a> for your products, it’s all about knowing what makes your product stand out and how it stacks up against what your competitors are offering. A guide to competitor-based pricing<\/a> can walk you through setting prices that consider what your competitors charge and their position in the market. This way, you can ensure your prices are in the ballpark but still show off the unique value of your products.<\/p>\n And if you sell multiple products, consider how you can unite them under a familiar brand umbrella<\/a>.<\/p>\n TOMS shoe company wins customers with a meaningful mixed differentiation strategy. They entice customers with quality shoes that their fans view as “better” than other slip-on shoes while also appealing to buyers who value ethics and company integrity.<\/p>\n TOMS’ “One for One” program promises to donate a pair to a child in need for every pair of shoes purchased.<\/p>\n This mixed differentiation of quality plus social cause is working. In 13 years of business, the company reports giving away nearly 100 million shoes.<\/p>\n When people have a great customer experience, it builds loyalty and grows your business.<\/p>\n And when a customer’s experience isn’t great, the opposite happens.<\/p>\n According to a recent study<\/a>, 33% of consumers will tell their friends and family about a terrible experience.<\/p>\n That’s the wrong way to differentiate.<\/p>\n Creating a truly stellar or novel customer experience can help your business stand out in a meaningful way.<\/p>\n There’s also a direct correlation between a customer’s experience and their willingness to pay more<\/a> for products and services.<\/p>\n For these reasons, it’s no surprise that 87% of respondents<\/a> polled indicated that improving customer experience was their top priority.<\/p>\n Want to differentiate by delivering an awesome customer experience? Here’s how to do it…<\/p>\n Focusing your efforts on the customer experience will always pay off. So, consistently check in with your customers to see how you’re doing.<\/p>\n Carmax has elevated customer experience like no other business in the automobile industry.<\/p>\n They saw the most common pain points of buying a car (such as driving a distance, long waits in a dealership, and price negotiation) – coupled with their competitor’s customer complaints – and changed everything<\/em>.<\/p>\n As a result, they offer in-home paperwork, competitive (no-negotiation) pricing, an easy-peasy trade-in process, and vehicle test drives brought to you.<\/p>\n These efforts have paid off big.<\/p>\n In 2019<\/a> net sales and operating revenues increased by 6.1% to $18.17 billion. According to Carmax’s website, 95% of purchasers<\/a> say they would recommend the experience to a friend.<\/p>\n Take the time to examine your business name, visual brand identity, products or services, and the overall customer experience.<\/p>\n It’s not hard to differentiate, but don’t leave differentiation to chance. Create a strategy to differentiate your business and get an advantage over competitors.<\/p>\n![](\"https:\/\/images.crowdspring.com\/blog\/wp-content\/uploads\/2020\/03\/27125439\/logo-pink-blue.png\"\/){kind=logo}
<\/div>\nCompany spotlight: Airbnb<\/a><\/h3>\n
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<\/p>\n3. Unique products or services<\/h2>\n
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Company Spotlight: TOMS<\/a><\/h3>\n
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<\/p>\n4. Great customer experience<\/h2>\n
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Company Spotlight: Carmax<\/a><\/h3>\n
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Buying a car is a pain. But Carmax decided it didn’t have to be.<\/p>\n
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