Standing Out from the Sea of 'Me-Too' Competitors Online

in Forum: Marketing
Source of this discusssion: /series/88/9016/standout-online-competition.htm Page description: Learn from Yanik Silver, Internet millionaire and 2007 Home-Based 100 winner, how to make money online.
Jan. 15 2008 at 12:26 PM
No Photo Posted by: ProfDavid
Yanik

Maybe you can offer some advice to Nick, a young UK based entrepreneur, about to start on the journey. Its a bit of fun, but could be interesting.

Nick's decisions are going to be influenced by the advice he receives.

Go to www.talkenterprise.co.uk

Professor David Johnson
email david@venturetothink.com
Venture to Think
Jan. 15 2008 at 12:51 PM
Loren Posted by: Loren
Read Seth Godin's Book  - The Purple Cow.  Its about standing out from the
crowd.  Or don't read it.  Just study the marketers who have a message that
speaks to you and inspires you.
 
I don't know what kind of business you want to start or what your background is.
 
However- lets talk about the fundamentals that any online business person MUST
UNDERSTAND.
 
You need traffic.  You need an opt-in page that does not suck.  You need
an email system of some sort.
 
The real action comes when you, through diligent follow-up via email, turn your
opt-in subscribers into raving fans who read everything you send them.  I do
this with the network marketing/direct selling industry...  by providing no-nonsense
hype-free truth about how to go about getting traffic and leads and how to
treat those leads in a way that makes them want to do business with you.
 
There are probably a lot of people on here who can advise you.  I'll be
happy to have a talk with you myself. You can get me on SKYPE at lorenww
or call me or send me a private message.
 
--->
P.s.  I guess this was intended for "Yanik" - but my recommendations are still  valid.  You need to understand the mechanisms of promoting a business on the internet before you can accurately perceive the opportunities that differentiate one business from another.  These differentiations are generall in the "message", the idea of what the business is, not in a set of benefits which no other competitor can offer. 
 
Read the Robert Collier Letter Book if you can find it... he explains how to sell all sorts of things by mail and how to create differentiation from the competition when no real differences exist.  The differences that lead to a prospect choosing one competitor over another are often in his/her mind - so the way you "frame" your message is all-important.


Edited by: Loren - Jan. 15 2008 at 12:59 PM
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Jan. 17 2008 at 6:45 PM
snpkukuk Posted by: snpkukuk
In Mike Collin's upcoming book called "The Million Dollar Idea in Everyone," he talks about combining ideas, but warns against diluting the value of the two products by combining them into one.  For example, a screwdriver that is also a hammer.  But instead of getting a really great combination tool, you get a product that doesn't do either function very well.
 
At the same time, combinations of your OWN interests and ideas can create very profitable business opportunities.  In writing this book, we interviewed some 40+ entrepreneurs who have successfully built niche businesses.  Their success came from coming up with a unique set of skills and interests and then using the internet and other emerging technologies to market and let the world know about their insight. 
 
One of my favorite examples is the Hot Sauce Blog (www.hotsauceblog) - imagine creating a business focused only on hot sauces!?  But check out the blog and you'll see that it has turned into more than just a way to talk about hot foods.  Another example is the woman who created a high-end travel service for families traveling to Italy (www.ciaobambino.com).  There again, she didn't try to be a travel service to the world or even to families...but to families traveling to Italy...a place she is very familiar with.  As the success of her business grew, she was able to expand into other destinations and offer other services.
 
Resist the urge to be "me too" and be unique.  Years ago it would have been impossible to link to so many people who share your interests.  But thanks to the internet, its a small world and you can reach them with a little effort and the right niche.
Open Innovation creates new opportunities for entrepreneurs.
Read more in The Million-Dollar Idea in Everyone.
Jan. 19 2008 at 10:05 AM
No Photo Posted by: deankeipert
Good article.  I agree, Seth's books are all great.  I personally like The Dip.  As we were starting a Michigan Web Design to read all that we could on marketing and standing out from the crowd.

Edited by: deankeipert - Jan. 19 2008 at 10:06 AM
Jan. 20 2008 at 10:26 AM
blog2hersh Posted by: blog2hersh
HI guys,
Hey Loren I am glad to find a Seth an here. I wrote an article about Purple Cow on my blog. Hey but do you think a new entrepreneur would rather talk to people than learn from books?

I wouldn't. 
My advice as you guys have also highlighted is to state one's 'VALUE PROPSITION'. Can Nick do that? Does he understand what 'value' his business would give to his clients/customers?
I look forward to hear him explain that to us here.....
Are you listening Nick?

Hersh Bhardwaj
MA
Money,Business, Life & Soul
health & Safety Training by E-Learning
Assessing Risks, Optional or Crucial??
Jan. 21 2008 at 10:23 AM
No Photo Posted by: mattsind
Firstly, I appreciate your post including the perspective of both retail and services.
Not to mention, it is very practical information that has educated me tremendously on the issues.  Thanks for posting.

Jan. 21 2008 at 6:11 PM
Understand and capitalize on differentiation of your business compared to others.  It might be new technology, experience, high quality, significant clients, a personal story that led you to start your own business or a new and unique concept, but you have to differentiate yourself in some capacity from your competition and communicate that to prospective clients.
 
I once had an owner of a new dry cleaner ask me about PR and I promptly asked him what was different about his business compared to the other six within walking distance of my house.  He said nothing.  For that business, they differentiate themselves in price, quality of work and delivery. Their best bet is to advertise and capture the immediate market living or working nearest to them.  Now, if they, say, worked in the nude we'd have something to go with, but that's not likely going to be the case for any business. 
 
If you haven't determined what differentiates you from other similar businesses than maybe this is an opportunity for you.  It may make you look at your business and target audience differently.
 
Best,
Jennifer
Jennifer Fortney
President, Cascade Communications
Small Business PR Expert - We create Fortune 500-like strategies for small budgets

Visit: www.cascadecomms.com
Learn more: http://cascadeeffect.blogspot.com





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