As a firearm instructor, I'm always looking for ways to gain a competitive advantage in the marketplace. Over the last few weeks, I've been diving deep into the topic of strategic positioning and I've learned something fascinating - the power of vocabulary in creating a unique selling proposition.
During a recent podcast episode, I heard about how changing the vocabulary of your offer can create a strategic position for your products. For example, the MacBook's Retina display and P90X's "muscle confusion" are just fancy ways of describing something that already exists in the market. However, by using a new vocabulary, they have successfully created a unique selling proposition that sets them apart from their competitors.
Here are some key takeaways from the podcast episode on the importance of vocabulary in strategic positioning:
🔥 Your product should have a unique selling proposition: If your product has the same features and benefits as every other product in the market, then it's not a strategic position - it's a commodity. You need to find a way to differentiate your product from others, and using unique vocabulary is a great way to do that.
🔥 Vocabulary can break preoccupation in your customer's brain: When your customer hears a new vocabulary, it breaks their preconceived notions of what the product is and what it does. This makes your product stand out in their mind and gives you a competitive advantage.
🔥 Unique vocabulary needs to be backed up by a unique experience: While changing the vocabulary can create a strategic position, it's important to remember that you need to deliver on that promise. If you promise an exclusive training experience, you need to actually provide it, or your customers will think you're full of it.
🔥 Trademark your unique vocabulary: If you come up with a unique way of describing your product or service, trademark it! This prevents others from copying your unique selling proposition and gives you a legal advantage in the marketplace.
🔥 Think creatively about your vocabulary: Don't be afraid to get creative with your vocabulary! Think about what makes your product or service unique and find a way to describe it that sets you apart from the competition.
In conclusion, if you want to gain a competitive advantage in the marketplace, you need to find a way to differentiate your product or service from others. Using unique vocabulary is a powerful way to create a strategic position that sets you apart from your competitors. However, it's important to remember that your unique vocabulary needs to be backed up by a unique experience, and you need to deliver on your promises if you want to succeed. So get creative with your vocabulary and start thinking about how you can use it to gain a competitive advantage!