The phrase “Differentiate and Thrive” title of this post is derived from the book Differentiate or Die by Jack Trout. Well, I thought, let’s declare the glass “half full” and more positively (and semi-originally) say Differentiate and Thrive \~/
Jack Trout’s book is a very useful read, in which he emphasizes that companies who fail to differentiate their products or services in the minds of their customers don’t stand much of a chance in their respective marketplaces. Amid the “tyranny of choice” in every conceivable product or service, differentiating your offering from all others is an absolute must.
Jack Trout proceeds to discuss a number of authentic differentiating ideas, and a process to identify the differentiating idea relevant to your product or service, culminating in actively communicating your difference:
If you build a differentiated product, the world will not automatically beat a path to your door…Every aspect of your communications should reflect your difference. Your advertising. Your brochures. Your website. Your sales presentations…The bottom line: You can’t overcommunicate your difference.
Jack Trout goes on to say, “If you want to be successful today, you’ll have to find the money you need to spin those marketing wheels.” Of course, no company can afford to make marketing mistakes, particularly in this economy. In part 2, I will share some product differentiation best practices I have found very helpful, and explain the “Got $1 billion?” in this post’s title!