How To Differentiate Your Brand

The good thing about capitalism or free enterprise is that anyone from anyplace can start a business. Due to this lack of restrictions, the marketplace in America is filled with a lot of small businesses and enterprises that are locally owned.

Thousands of startups are launched every month and small businesses continue to be a major employer of labor and source of wealth generation even though about 90% of them fail. The number of small businesses in the US is about 28 million and these businesses have created not less than 65% of the country’s new jobs since 1995.

Even those these are impressive figures except, of course, the 90% rate of attrition, it remains a fact that there is a serious overcrowding in most of the industries within the country. Even industries that are brand new and not even a year old are getting crowded already.

The tobacco industry is not left out and the stiff competition ensures it becomes difficult for even popular brands to stick out. It’s vital that you  find ways to stay ahead of the pack.

Consider the following tips:

  1. Engage Alternative Pricing

A fast method to make your tobacco brand to stand out is by offering alternative pricing which contrasts starkly to that of your competitors. This can be achieved by low pricing, premium pricing or a unique structure.

In low pricing, you sell similar products at prices lesser than that of your competitors. In premium pricing, however, you do the opposite i. e. offer your high-quality products at higher prices. This is sure to attract attention to your brand and it’s perfect if your target market can afford your prices.

A unique pricing structure entails using a pricing option that is completely different from the ones on the market. It’s a good way to differentiate your tobacco brand because folks love alternatives and a rare option is capable of grabbing attention.

  1. Be a Brand Dedicated to Customer Service

The second best method to stick out in an industry that is crowded is by establishing a culture that centers on the customer. A customer-centric philosophy is essential for some reasons.

These reasons include the fact that consumers can now loud their far-reaching complaints or approvals of a business on social media, personal client service have become less frequent due to business models that are automated and because the lasting loyalty of customers is the best guarantee for prolonged profitability.

Building a company that is customer-centric puts you above industries that don’t address customer issues.

  1. Create Partnerships

Since it is impossible for your tobacco brand to do everything all by itself, it’s imperative that you forge valuable relationships and partnerships with other businesses in other industries. This is sure to give you more visibility as well as differentiate your brand.

These partnerships give you a strategic advantage in that they help in offsetting your efficiencies and enable you to have access to more resources.

Most businesses in the crowded industries do not stand out simply because they fail to do anything in order to distinguish their brands. They just scrape by and ignore the frightening idea of taking some risks. They just do the same thing as everyone else.

If you really want to stick out in a competitive industry like tobacco, you must do something. Start by using the tips highlighted in this article. As more and more businesses take off, it’s crucial that you cease to follow the crowd; you should start creating your personal path.