HOW TO DIFFERENTIATE YOUR BUSINESS AND RISE ABOVE THE CROWD

If what we mean by this is that we want to charge higher prices because we deliver a service that is well above the level of the competition, then what it takes to accomplish this is several things -

• There must be a large enough pool of prospects capable and potentially willing to pay your price
• Your branding must suceed in creating, in the minds of your prospects, the image of quality service and a highly valued product
• Marketing must be professional and in line with your branding
• Your product must, upon careful inspection, indeed rise to the level you are promising

PROSPECTS

Depression / Recession, whatever you want to call it, times are tough, no doubt. But there will always be those seemingly untouched by hardship, those who are ready and willing to pay for the best. The question is, are there enough of these people in your area and can you reach that market?

A little demographics study, should answer that question. There are governmental and other sources that show the percentage of people by income grouping and locale. Also, TheWeddingReport.com offers valuable demographic information, probably all you will ever need, geared for the wedding industry.

I can't overstate the importance of understanding your area's demographics. If there are few high-rollers in your area, yet already several companies are positioning themselves for this market, you'll have a big battle ahead of you, while you slug it out with the competition for comparitively few customers.

It's a bit like fishing. If you're fishing for monster bass in a catfish pond, you'll be eating fewer meals!

BRANDING

Few business people understand the true meaning of the term "branding". It is much more than your logo, or the color scheme of your website. Branding includes the way you answer your phone; the way you dress; the way you handle client communications - essentially everything you do in the name of your business.