Stand Out In Your Marketplace: 5 Ways to Differentiate Your Product From Your Competitors

Stand Out In Your Marketplace: 5 Ways to Differentiate Your Product From Your Competitors

When I started Flowtown, we were treading water in the reddest of oceans.

Social sharing and publishing tools were all the rage, and standing out from the crowd was NOT going to be easy.

Fortunately, we were able to lean into one key differentiator in our feature set for our product called Timely.

It was almost criminally simple — but by being the only social publishing tool that CHOSE the ideal time to post for you (based on our algorithm)… and did it automatically… we were able to successfully differentiate ourselves from the pack.

A similar case can be found with my friend Laura Roeder’s company, Edgar.

Laura and her team have built a multimillion dollar company in the hyper-competitive social publishing space by being the ONLY one to market around the idea of content repurposing (and of course, facilitating it through their features).

But a Product Hook is only ONE way to differentiate in a crowded market.

I shot this week’s episode to walk you through the 5 best ways to differentiate your software company so that you can achieve massive success in even the bloodiest of shark-infested oceans 😉

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At a high level, the 5 ways to differentiate your product are:

  1. Nail a niche
  2. Product hook
  3. Be remarkable
  4. Positioning
  5. Pricing

Some of these are more long-term strategies,  but if you want a simple yet powerful way to stand out today, I suggest paying special attention to number three.

It doesn’t matter what you do or who you serve — there’s always an opportunity to be more remarkable.

This could be something as simple as sending out hand-written thank you cards to new customers (Wufoo forms did this before getting acquired by SurveyMonkey)…

… or just baking in “mention-worthy” moments and experiences into your onboarding process.

Watch the full episode here, and if you’re up for a fun exercise with your team, take 20 minutes to brainstorm a few things you can do TODAY to start being more remarkable and mention-worthy.

Looking forward to hearing about them in the comments.