If you imagine that you are autonomous and independent as an entrepreneur, you will be interested in knowing everything you need to increase sales so that your sales take off, right? You will want to know what is necessary to sell and, more importantly, sell more quantity and continue selling more time. One product or several products, whatever they are.
So we have to start at the beginning: to have good sales (and keep having them in time), we need to create a unique product that gets your customers not to think twice when buying. And you will say: yes, I know the theory, but how do I do it, how do I create a unique product?
What you should never do is adopt a low-price strategy.
Why? Because it can be bread for today and hunger for tomorrow and because most likely it is not sustainable in your company if you are an independent entrepreneur (and I guess small). That is not sustainable and means that you lose money. Here are five strategies to create a unique product to sell.
To add value. That is, it has to have a utility or benefit for the client. How is this benefit manifested? In which the product solves a problem or brings satisfaction. And when choosing between both, the products that solve problems are better sold to those that satisfy desires because the former carries the urgency, the need. At the same time, the latter is associated with pleasure. You can go without pleasure, but you cannot go without solving a need.
Be different from what already exists. If you create a product copy or examine what is already done to do something similar, the product will not be unique. Keep in mind that someone works something does not mean that it will work for you too. A unique product cannot be more than what already exists. It’s about creating something new that:
- Will solve a problem that did not exist before,
- Will solve a problem that existed before but do it differently,
- Will increase the pleasure and well-being of people differently.
Focus on a particular market niche. As I have hinted at sometimes, the products for everyone are products for anyone. And if here we are dealing with unique products, these should be directed to unique people who belong to particular market niches.
Use the differentiation strategy. The differentiation strategy is where a company creates a product that is unique from others in the market. There are two types of competitive advantage, cost leadership or differentiation. Cost leadership is where you provide the lowest cost product on the market; differentiation is where you create a unique product and can therefore charge higher prices.
The differentiation strategy works when you create something unique that the market values highly, and the cost of providing that uniqueness is sustainable. In other words, creating a unique product that is not wanted by the market is different, not differentiated. If the price you can charge does not exceed the cost of being differentiated, you are in trouble.
Ensure your product is used in the right way. One of the problems with building products for other people is that some people will use them the wrong way! There are many causes for this problem, too much to get into in this blog post, but it’s safe to say at least some part of every product user base will probably be using the product not in the way it was intended.
This is a problem for differentiation. If you are trying to be unique for a particular characteristic, but your users aren’t using the product correctly to gain the advantages of that unique characteristic, your differentiation will be nullified.
For example, say your Project Management application beautifully integrates with a User’s inbox. If using this feature is too complicated or not fully explained, the user won’t use this feature correctly, and your opportunity to be unique will be lost.
There are many ways to make how to use a product clear. Walkthroughs, guides, or video tutorials are all perfect ways to accomplish this. The most important thing is to be aware that this is a problem and can likely have a detrimental effect on your goal to be differentiated.
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