Redefining the Offer to Differentiate
There are many questions that come up in the launch process, but you’d think the one thing you know for sure is the product or service you’re launching. Right?
It turns out sometimes the answer isn’t as obvious as you might think. In fact, we’ve found that a good percentage of projects we work on result in a redefined offer from what was defined at the outset. How is that?
It has a lot to do with today’s rapidly evolving, hyper-competitive and highly commoditized landscape. Sometimes an offering alone isn’t enough to differentiate from competitors. And as this is all about winning minds and taking share, it’s healthy to take a step back to make sure your offer can perform.
There are a number of ways to redefine an offer. Here are a few we’ve used with our clients in recent years.
Higher Company Purpose
Consider that you may be revitalizing your portfolio, a business unit or even the company itself. This can be about an emotional recommitment to the customers in a market segment. Or perhaps you’re launching your leadership vision, one in which you own the market issue. In either case, your product and/or service becomes the proof of purpose.
A Hybrid of Tangibles and Intangibles
What’s more important, the tangible product or the intangible service? A hybrid of both can uncover a more meaningful message. Weave products, services, support, education, expertise, etc. into a singular offering and differentiated story.
New Categorical Distinction
Maybe you have a unique combination of components that deserve their own categorical distinction. It can be a bold move to restart the market conversation as the only offering that delivers X, Y and Z but it may be worth it when the market is crowded.
So take a moment and ask yourself what you really launching? Aligning your team on the right answer could make all the difference.
Read a quick bit about company differentiation in “Be Your (Differentiated) Self.”