Every day as the human population booms and economic expansion creeps forward, there are more potential customers for your products and services, and a massive potential opportunity for financial success online.
This expansion also means that whatever you are offering for sale has a growing global base of international competition.
While this environment is a wonderful leveller – allowing smaller operators to get established in business and scale up easily, the difficulty many businesses now face is how to stand out over this competition, and get noticed by prospective customers.
If your competitors are selling a product or service online, the easiest way to ‘beat’ your marketplace offer is by undercutting your price. The international, borderless nature of the Internet makes it easy for those in lower wage economies to do this – and good luck to them in bettering their lives and competing for a slice of the pie.
Your Need For Personal Branding Has Never Been Greater
But it’s not just a low price tag that helps your offering stand out, indeed, racing to the bottom in terms of price is a zero sum game for all involved (including the customer).
Building a strong and recognisable brand is the key to success, allowing companies to effectively differentiate and position their products in the marketplace. In the context of online operations, this issue has never been more important and will increase in relevance as the net gets more crowded.
For many people selling services – training products for example, the best differentiator they have available to do this, is themselves.
While it may be possible to copy your product or service, duplicate its method of distribution and even knock off your branding to steal marketshare – the one thing competitors will struggle to duplicate is you.
Personalise your product or service offering – putting your own personality at the centre of what you do, and you build a brand which is easily recognisable, can protect against competitive pressures and delivers more tangible value.
Once your customers start identifying with the value you bring to the product or service they are buying they are far less likely to go elsewhere in search for cheaper alternatives.
This could mean using video in marketing campaigns, thank you pages and email updates, redrafting your marketing messages, or charting the progress or development of your company or product by blogging.
This is certainly the approach recommended by several successful internet businesses, and online training providers.
If you want to stand out, or protect your business from increasing competition, personalised branding is the best solution – helping you to compete, whilst also protecting your profit margins at the same time.