Top Seven Ways to Show What Sets Your Brand Apart
How do you stand out from your competitors in a crowded market place? You can’t re-invent the wheel, as they say, but often there’s no need to do so. Much can be achieved with a smart approach and a firm belief in your brand’s strength.
Take Tesla, for example. Elon Musk’s electric cars aren’t the only battery-driven choices in the auto world. All the big global car firms are busy churning out electric alternatives to their gas-guzzling models. Yet Musk seems to have a monopoly in terms of brand recall when you ask anyone to name an all-electric car manufacturer. It proved so successful for him that in January 2020 Tesla’s market capitalisation reached USD107 billion, bigger than Germany’s behemoth Volkswagen.
So what makes Tesla stand out from the crowd? His cars aren’t cheap or aimed at the mass market –far from it, in fact. His first electric model set out to compete with high-performance luxury sports cars. This immediately gave the brand compelling appeal and heaps of media interest. This gained the brand the traction it needed to get going in the early days.
The way Tesla sold its cars was also different – direct selling avoided traditional franchised dealerships that everyone was used to. Tesla showed off their cars in stylish city centre galleries, gaining eyeballs in the places where wealthy potential buyers went to work. Another important difference was to make the brand supremely practical to use by installing a Supercharger network. This made charging a Tesla appear as simple as filling up at a gas station. No other car manufacturer had such a bold vision and it worked like a dream, overcoming any range-anxiety from sceptical buyers.
So what can we learn from Musk when it comes to making your brand stand out from the crowd?
- Establish your USP (unique selling point, or unique sales proposition)
- Find a single niche in your sector where your brand is the best
- Think of “best” in the widest possible sense – for example, the most sustainable, the longest heritage, the most loyal staff, or the most helpful customer service
- Offer a service that is different from the rest
- Overcome problems faced by your customers
- Share these messages via storytelling using content
- Be visionary – don’t be afraid to break new ground
Looking for help to set your brand apart, contact the experts at NewBase to see how we can help.