Top mistakes business owners make when trying to differentiate their business

Standing out from the crowd is essential when competing in the business world. However, when trying to differentiate their company, entrepreneurs can sometimes make serious mistakes if they don’t have a clear strategy in place. In trying to make their business or service offerings stand out—especially in a saturated market—leaders can sometimes create the opposite effect, and either not get noticed at all or make their company somewhat unapproachable.

These mistakes can ultimately drive people away from the company instead of turning them into loyal customers.

Below are some of the worst mistakes business owners can make when they attempt to differentiate their business. 

1. Not Niching Down Enough

Owners worry that if they focus too much, they’ll “miss out on an opportunity.” But focusing all marketing and messages on a specific market niche that values your best work allows ideal clients to easily recognize you are the right resource among all options. – Dodie Jacobi, Dodiodo Inc.

2. Targeting The Wrong Audience

Business owners often target the masses, thinking they will easily reach their consumers. This tactic doesn’t allow them to narrow their demographics to their ideal customers who are most likely to buy, nor align key brand messages. This tactic is ineffective and costly. Before designing your campaign, execute a customer segmentation and profile for your products and services and your company brand. – Lori Harris, Harris Whitesell Consulting

3. Not Being Bold Enough

If you’re trying to differentiate yourself, you have to actually differentiate yourself. Too often, businesses who want to differentiate themselves don’t take the steps to take a bold stand to be different. They stay generic and subjective, and simply too vanilla. Staying vanilla doesn’t work for obvious reasons, so give yourself permission to be bold and stand out! – Jon Dwoskin, The Jon Dwoskin Experience

4. Not Being Clear On Their ‘Why’

In a saturated market, what makes you stand out is getting clear on your purpose (knowing your “why”) and being true to it in your messaging, your recruitment, your processes and your branding. This is how you connect emotionally to your target market and create loyalty with your customer base. First know what you’re about, why you’re in business and your message will stand out and make an impact. – Daphna Horowitz, Daphna Horowitz Leadership

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What is your #1 mistake you make when trying to differentiate your business? 

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This article was first published on Forbes.com on 24th February 2020