November 13, 2024 • 9 mins
Feeling lost in the sea of sameness? In this episode, Eduardo Cerezuela, LinkedIn Top Voice and business strategist, joins hosts David and Sara to uncover the secrets to true differentiation.
Whether you’re an SME or just starting up, discover top businesses' three powerful strategies to stand out: cost leadership, innovation, and niche focus. Eduardo dives deep into real-world examples, from laser engraving to exclusive tortas, showing that even small changes can lead to big wins.
You can learn how to harness your unique strengths, understand your market, and make an authentic impact.
Tune in to start owning your space and become unforgettable in your industry!
Key Highlights:
- How to avoid the pitfalls of copying competitors
- Three essential differentiation strategies: cost, innovation, niche
- Real-life case studies: unique approaches to customer loyalty and market positioning
- The importance of experimentation and refining your customer focus
Remember to share your insights with us and keep the conversation going—because the world needs what only you can offer!
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:00):
ever get that feeling.
(00:01):
You know, like you're just one of a million, especially when you're trying to get your
business off the ground.
You mean, uh, feeling like you're just in other face in the crowd, trying to stand out.
Exactly.
So today we're diving deep on how to break free from that feeling, how to make a real
impact is all that differentiation.
Right.
Darin,iation.
And how to own your unique space in the market.
(00:21):
It's not enough to just have a good product these days, right?
You got to have that X factor, especially if you're a small or medium business.
Definitely, especially for all those SMEs out there to help us unpack all of this.
We're going to be looking at a conversation between business expert at Wardo Saraswala and
podcast hosts David and Sarah.
I think you'll find it really interesting.
(00:41):
The way Eduardo explains why copying what everyone else is doing is a recipe for disaster.
But it's so tempting, right?
You see someone else succeeding and you're like, ah, I'll just, I'll just do that too.
Uh, but that's where so many businesses go wrong.
It's like walking through a shopping mall and seeing the same stores over and over again.
Exactly.
It all just blurs together.
You get lost in the sea of sameness.
(01:05):
So Eduardo talks about three core strategies for differentiation and they each have their
own pluses and minuses.
Okay.
So let's dive into those.
First up, class leadership basically becoming the most affordable option out there.
Right.
Becoming the most efficient player in the market.
So that might involve streamlining your production process.
(01:27):
Maybe even investing in automation or tightening up your supply chain.
Yeah, just finding those ways to keep those prices super competitive.
But isn't there a risk of getting stuck in like a race to the bottom?
You know, where you end up sacrificing quality or profits?
Yeah, that's a great point.
A lot of people fall into that trap.
How do you balance affordability with maintaining that level of value?
(01:49):
It's not about cutting corners.
It's about being strategic.
The cost leadership is really about optimizing every step of the process.
So you need to really know your numbers inside and out.
You have to be laser focused on efficiency.
Okay.
I can see how that would take some serious know how.
But what about the businesses that are trying to stand out by, you know, offering something
(02:10):
different, something new?
That's where our second strategy comes in.
Right.
Differentiation through innovation.
Okay.
So we're talking about creating a product or service.
It's completely unique.
Right.
It really fills a gap in the market.
Like those late night infomercials, but in a good way.
Right.
Exactly.
It's about solving a problem in a new way.
Do you have any examples of businesses that have nailed this strategy?
(02:33):
Think about Starbucks, for instance.
Okay.
So like they don't just sell coffee.
They sell a whole experience.
Exactly.
A place where people can relax, work, socialize.
They've created a whole atmosphere.
It's not just about the product.
It's about the feeling you get when you're there.
But not every business is trying to build a global brand like that.
What about the ones that are focused on a specific audience?
(02:54):
That's where niche focus comes in.
Our third strategy.
So specializing in a specific market segment.
Exactly.
And becoming the go-to expert in that area.
Kind of like Jack of all trades, Master of None.
But flipped.
Right.
You become a Master of One.
You know, Eduardo uses this great analogy in the conversation.
What is it?
This lady who makes the most amazing tortas.
(03:14):
Tortas?
You know, the Mexican sandwich.
Ah, okay.
But here's the thing.
She only sells them three days a week.
Tuesday, Wednesday, Thursday.
Really?
She doesn't need to be open every day.
Her product is that good.
That's pre-impressive.
She's created this buzz.
This exclusivity that keeps people coming back for more.
So you're saying that sometimes limiting your scope can actually make you more successful.
(03:38):
Sometimes less is more.
Okay.
These strategies all sound great and theory.
But how do they actually play out in the real world?
Well, that's where Eduardo's consulting experience comes in.
He shares some fascinating case studies of how these strategies have worked for his clients.
Okay.
I'm hooked.
Give me an example.
He talks about one client who sold laser engraving machines.
(04:01):
Now, that's a pretty competitive market.
Yeah, can I have you?
But this client found a way to stand out.
Okay.
Don't leave me hanging.
How did he do it?
He offered a unique local warranty extension.
So he added an extra layer of value for his customers.
Something his competitors weren't doing.
Smart.
So it wasn't about reinventing the wheel.
It was about like refining it.
And really understanding what his target market was looking for.
(04:24):
Okay.
So knowing your audience is key.
But I'm also curious about the role of experimentation.
Did he just stumble upon this winning formula or was it more deliberate?
Well, it was a bit of both actually.
You know, sometimes you got to just take a leap of faith.
Hmm.
Interesting.
Another client who made a really surprising change.
Hmm.
What does he do?
(04:45):
He just adjusted his closing time by an hour.
Really?
Just by an hour.
It turned out his target audience were all busy professionals.
Ah, so they couldn't make it to his shop before it closed.
Yeah.
And this little tweak, it actually led to a 25% increase in sales.
Wow.
That's incredible.
So sometimes it's the small changes that make the biggest difference.
(05:06):
Yeah.
How can our listeners start applying these strategies?
What are some practical first steps they can take?
I think the first step is to really take a good look at your business.
Like really analyze it.
Okay.
So like a deep dive into your own operations.
You got it.
Look at your products or services, your target market.
Figure out what sets you apart.
(05:27):
Really understand your strength.
Your weaknesses too.
Yeah.
So it's about being honest with yourself.
You got to ask yourself the tough questions.
Customers choose me over someone else.
What value do I bring that nobody else can?
That's a good one.
If you can't answer that confidently, maybe it's time to switch things up.
Exactly.
So once you've done that soul searching, once you've identified your core strengths.
(05:49):
Then what?
How do you turn those strengths into like a real differentiation strategy?
That's where the creativity comes in.
You have to brainstorm ways to leverage those strengths.
So it could be offering a wider range of services.
Maybe you focus on providing amazing customer service.
Or developing a truly innovative product.
It all depends on what makes you, you know.
Yeah.
(06:10):
I guess.
Think about your ideal customer.
Oh, that's good.
Get into their head.
What are their needs?
With a pain points?
Yeah.
What we're searching for.
Almost like you're creating a customer avatar.
You got it.
So it's not a one time thing.
Is it this whole differentiation thing?
Oh, definitely not.
It's an ongoing process.
You have to constantly be adapting.
The market's always changing.
New competitors popping up left and right.
(06:31):
It's a dance.
You know.
How do you know when it's time to pivot?
You know, like when your strategy needs a refresh?
Well, one sign is declining sales.
Yeah.
That makes sense.
If people aren't buying what you're selling.
Or if you notice people aren't engaging with your brand as much as they used to.
So it's not enough to just come up with a strategy.
You have to keep an eye on how it's performing.
(06:53):
Exactly.
You have to be ready to make adjustments.
Sometimes even small tweaks can make a big difference.
Eduardo mentioned a client who saw a huge jump in sales.
Yeah.
Just by offering free shipping.
Oh, yeah.
Free shipping.
Everyone loves that.
It wasn't a groundbreaking change, but it made a difference.
It addressed a customer pain point.
It's those little things that can really give you an edge.
Okay.
(07:14):
So we've been talking a lot about attracting new customers.
But what about keeping the ones you already have?
How does differentiation play into customer loyalty?
Oh, that's a great question.
And it's a really important one.
Because you're existing customers, they're your biggest fans, right?
They're more.
And they can be your most powerful advocates.
So you gotta keep them happy.
You can't just rest on your laurels once you've got them in the door.
(07:37):
So it's not enough to just meet their expectations.
No, you have to exceed them.
Okay.
So how do you do that?
What does that look like?
It's about giving them those little extras.
Those little things that show you care.
You really value their business.
Like a handwritten thing, you know?
Or a surprise gift?
It's those personal touches that make you stand out.
Those little gestures that make people feel valued.
But there's a fine line, right?
(07:59):
Between standing out and trying to hard.
You don't want to seem inauthentic or gimmicky.
That's why it's so important to stay true to your brand identity.
Your differentiation strategy should be an extension of who you are.
Not some, uh, some kind of facade.
Right.
Because customers can see right through that.
They can smell a fake a mile away.
So it's not about chasing trends.
(08:20):
It's about finding that sweet spot where your strengths and your values and your customers need.
They all align.
Like a venn diagram.
Exactly.
Everything just overlaps perfectly.
When you achieve that, you create this sense of authenticity.
And that's what builds trust and loyalty.
Customers are more likely to stick with a brand they believe in.
Okay.
(08:41):
So as we wrap up this deep dive into differentiation,
what's the, what's the key takeaway you want our listeners to remember?
I think Eduardo put it best when he said,
Don't lose hope.
There's always a way to stand out.
Even in a crowded market.
Even in the toughest industries.
Yeah.
It might take some trial and error.
Some soul searching.
Some creative thinking.
But it's worth it.
(09:02):
So to all our listeners out there.
What will you do to differentiate yourself?
Will you refine your niche?
Will you develop a unique service?
Or try something completely off the wall.
Don't be afraid to experiment.
Embrace your unique strengths, your quirks, your passions.
And let your brilliance shine.
Because the world needs what you have to offer.
(09:24):
And that's really the essence of differentiation.
It's about finding an owning that special something that makes you, you.
That's six you apart from the pack.
So go out there and make your mark.
Remember, there's always a way to stand out.
Until next time, keep diving deep.
ever get that feeling.
(00:01):
You know, like you're just one of a million, especially when you're trying to get your
business off the ground.
You mean, uh, feeling like you're just in other face in the crowd, trying to stand out.
Exactly.
So today we're diving deep on how to break free from that feeling, how to make a real
impact is all that differentiation.
Right.
Darin,iation.
And how to own your unique space in the market.
(00:21):
It's not enough to just have a good product these days, right?
You got to have that X factor, especially if you're a small or medium business.
Definitely, especially for all those SMEs out there to help us unpack all of this.
We're going to be looking at a conversation between business expert at Wardo Saraswala and
podcast hosts David and Sarah.
I think you'll find it really interesting.
(00:41):
The way Eduardo explains why copying what everyone else is doing is a recipe for disaster.
But it's so tempting, right?
You see someone else succeeding and you're like, ah, I'll just, I'll just do that too.
Uh, but that's where so many businesses go wrong.
It's like walking through a shopping mall and seeing the same stores over and over again.
Exactly.
It all just blurs together.
You get lost in the sea of sameness.
(01:05):
So Eduardo talks about three core strategies for differentiation and they each have their
own pluses and minuses.
Okay.
So let's dive into those.
First up, class leadership basically becoming the most affordable option out there.
Right.
Becoming the most efficient player in the market.
So that might involve streamlining your production process.
(01:27):
Maybe even investing in automation or tightening up your supply chain.
Yeah, just finding those ways to keep those prices super competitive.
But isn't there a risk of getting stuck in like a race to the bottom?
You know, where you end up sacrificing quality or profits?
Yeah, that's a great point.
A lot of people fall into that trap.
How do you balance affordability with maintaining that level of value?
(01:49):
It's not about cutting corners.
It's about being strategic.
The cost leadership is really about optimizing every step of the process.
So you need to really know your numbers inside and out.
You have to be laser focused on efficiency.
Okay.
I can see how that would take some serious know how.
But what about the businesses that are trying to stand out by, you know, offering something
(02:10):
different, something new?
That's where our second strategy comes in.
Right.
Differentiation through innovation.
Okay.
So we're talking about creating a product or service.
It's completely unique.
Right.
It really fills a gap in the market.
Like those late night infomercials, but in a good way.
Right.
Exactly.
It's about solving a problem in a new way.
Do you have any examples of businesses that have nailed this strategy?
(02:33):
Think about Starbucks, for instance.
Okay.
So like they don't just sell coffee.
They sell a whole experience.
Exactly.
A place where people can relax, work, socialize.
They've created a whole atmosphere.
It's not just about the product.
It's about the feeling you get when you're there.
But not every business is trying to build a global brand like that.
What about the ones that are focused on a specific audience?
(02:54):
That's where niche focus comes in.
Our third strategy.
So specializing in a specific market segment.
Exactly.
And becoming the go-to expert in that area.
Kind of like Jack of all trades, Master of None.
But flipped.
Right.
You become a Master of One.
You know, Eduardo uses this great analogy in the conversation.
What is it?
This lady who makes the most amazing tortas.
(03:14):
Tortas?
You know, the Mexican sandwich.
Ah, okay.
But here's the thing.
She only sells them three days a week.
Tuesday, Wednesday, Thursday.
Really?
She doesn't need to be open every day.
Her product is that good.
That's pre-impressive.
She's created this buzz.
This exclusivity that keeps people coming back for more.
So you're saying that sometimes limiting your scope can actually make you more successful.
(03:38):
Sometimes less is more.
Okay.
These strategies all sound great and theory.
But how do they actually play out in the real world?
Well, that's where Eduardo's consulting experience comes in.
He shares some fascinating case studies of how these strategies have worked for his clients.
Okay.
I'm hooked.
Give me an example.
He talks about one client who sold laser engraving machines.
(04:01):
Now, that's a pretty competitive market.
Yeah, can I have you?
But this client found a way to stand out.
Okay.
Don't leave me hanging.
How did he do it?
He offered a unique local warranty extension.
So he added an extra layer of value for his customers.
Something his competitors weren't doing.
Smart.
So it wasn't about reinventing the wheel.
It was about like refining it.
And really understanding what his target market was looking for.
(04:24):
Okay.
So knowing your audience is key.
But I'm also curious about the role of experimentation.
Did he just stumble upon this winning formula or was it more deliberate?
Well, it was a bit of both actually.
You know, sometimes you got to just take a leap of faith.
Hmm.
Interesting.
Another client who made a really surprising change.
Hmm.
What does he do?
(04:45):
He just adjusted his closing time by an hour.
Really?
Just by an hour.
It turned out his target audience were all busy professionals.
Ah, so they couldn't make it to his shop before it closed.
Yeah.
And this little tweak, it actually led to a 25% increase in sales.
Wow.
That's incredible.
So sometimes it's the small changes that make the biggest difference.
(05:06):
Yeah.
How can our listeners start applying these strategies?
What are some practical first steps they can take?
I think the first step is to really take a good look at your business.
Like really analyze it.
Okay.
So like a deep dive into your own operations.
You got it.
Look at your products or services, your target market.
Figure out what sets you apart.
(05:27):
Really understand your strength.
Your weaknesses too.
Yeah.
So it's about being honest with yourself.
You got to ask yourself the tough questions.
Customers choose me over someone else.
What value do I bring that nobody else can?
That's a good one.
If you can't answer that confidently, maybe it's time to switch things up.
Exactly.
So once you've done that soul searching, once you've identified your core strengths.
(05:49):
Then what?
How do you turn those strengths into like a real differentiation strategy?
That's where the creativity comes in.
You have to brainstorm ways to leverage those strengths.
So it could be offering a wider range of services.
Maybe you focus on providing amazing customer service.
Or developing a truly innovative product.
It all depends on what makes you, you know.
Yeah.
(06:10):
I guess.
Think about your ideal customer.
Oh, that's good.
Get into their head.
What are their needs?
With a pain points?
Yeah.
What we're searching for.
Almost like you're creating a customer avatar.
You got it.
So it's not a one time thing.
Is it this whole differentiation thing?
Oh, definitely not.
It's an ongoing process.
You have to constantly be adapting.
The market's always changing.
New competitors popping up left and right.
(06:31):
It's a dance.
You know.
How do you know when it's time to pivot?
You know, like when your strategy needs a refresh?
Well, one sign is declining sales.
Yeah.
That makes sense.
If people aren't buying what you're selling.
Or if you notice people aren't engaging with your brand as much as they used to.
So it's not enough to just come up with a strategy.
You have to keep an eye on how it's performing.
(06:53):
Exactly.
You have to be ready to make adjustments.
Sometimes even small tweaks can make a big difference.
Eduardo mentioned a client who saw a huge jump in sales.
Yeah.
Just by offering free shipping.
Oh, yeah.
Free shipping.
Everyone loves that.
It wasn't a groundbreaking change, but it made a difference.
It addressed a customer pain point.
It's those little things that can really give you an edge.
Okay.
(07:14):
So we've been talking a lot about attracting new customers.
But what about keeping the ones you already have?
How does differentiation play into customer loyalty?
Oh, that's a great question.
And it's a really important one.
Because you're existing customers, they're your biggest fans, right?
They're more.
And they can be your most powerful advocates.
So you gotta keep them happy.
You can't just rest on your laurels once you've got them in the door.
(07:37):
So it's not enough to just meet their expectations.
No, you have to exceed them.
Okay.
So how do you do that?
What does that look like?
It's about giving them those little extras.
Those little things that show you care.
You really value their business.
Like a handwritten thing, you know?
Or a surprise gift?
It's those personal touches that make you stand out.
Those little gestures that make people feel valued.
But there's a fine line, right?
(07:59):
Between standing out and trying to hard.
You don't want to seem inauthentic or gimmicky.
That's why it's so important to stay true to your brand identity.
Your differentiation strategy should be an extension of who you are.
Not some, uh, some kind of facade.
Right.
Because customers can see right through that.
They can smell a fake a mile away.
So it's not about chasing trends.
(08:20):
It's about finding that sweet spot where your strengths and your values and your customers need.
They all align.
Like a venn diagram.
Exactly.
Everything just overlaps perfectly.
When you achieve that, you create this sense of authenticity.
And that's what builds trust and loyalty.
Customers are more likely to stick with a brand they believe in.
Okay.
(08:41):
So as we wrap up this deep dive into differentiation,
what's the, what's the key takeaway you want our listeners to remember?
I think Eduardo put it best when he said,
Don't lose hope.
There's always a way to stand out.
Even in a crowded market.
Even in the toughest industries.
Yeah.
It might take some trial and error.
Some soul searching.
Some creative thinking.
But it's worth it.
(09:02):
So to all our listeners out there.
What will you do to differentiate yourself?
Will you refine your niche?
Will you develop a unique service?
Or try something completely off the wall.
Don't be afraid to experiment.
Embrace your unique strengths, your quirks, your passions.
And let your brilliance shine.
Because the world needs what you have to offer.
(09:24):
And that's really the essence of differentiation.
It's about finding an owning that special something that makes you, you.
That's six you apart from the pack.
So go out there and make your mark.
Remember, there's always a way to stand out.
Until next time, keep diving deep.
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