How to differentiate from your competitors?

transcript

• Meetup by Frederic Moreau, PÖL Digital• June 10, 2014 •

HOW TO DIFFERENTIATE FROM YOUR COMPETITORS?

Montreal Solution Group for Business Owners

AGENDA• 30’ - Keynote

• What are we talking about?

• Why differentiate?

• Differentiation framework

• Examples

• 30’ - Sharing

• 60’ - Getting together

WHAT « DIFFERENCE » ARE WE TALKING ABOUT?

The obvious? The complex? The odd?

DIFFERENTIATION - MAKING A DIFFERENCE TO PERFORM BETTER

WHY DIFFERENTIATE?

• Because we live in a globalized world where most products & services are becoming commodities, and where our skills are commoditizing too. !• So we need to make a difference in a turbulent environment where change is accelerating, nimble competitors can emerge anytime, and clients may switch to someone else at the distance and speed of a click.

DIFFERENTIATION FRAMEWORK

• Identify your market • Select your strategy • Select your differentiation spot(s) • Create value

IDENTIFY YOUR MARKET

Differentiate • Price is not the key decision factor • High client retention • Long term competitive advantage

YoYo • Price is the second decision factor • Average level of client retention • Short term competitive advantage

Commodity • High price pressure • Lower client retention

Few competitors Many competitors

Easy market access

Difficult market access

Costs of skills and resources to satisfy the market

% of competitors who satisfy the market

Source: Strategic organization, JP Raffalli, International Coaching in Organization

SELECT YOUR STRATEGY

Master

Innovate

SELECT YOUR DIFFERENTIATION SPOT(S)

Master

Innovate

Differentiation prism

CREATE VALUEe.g. The Tracey & Weirsema « value discipline model »

Tracey and Wiersema proposed that in order to be competitive, an enterprise must be competent in all three disciplines (the minimum threshold in the diagram), but to be a market leader, an enterprise must excel in just one discipline. Treacy-Wiersema further propose that an enterprise cannot excel in all three disciplines because the basic enterprise culture, structures, people, facilities, processes and business models that lead to excellence in any one discipline are incompatible with achieving excellence in the others.

http://www.enterprise-advocate.com/2012/02/the-tracey-wiersema-value-discipline-model-part-1/

Source: The Enterprise Advocate, Alex Matthews

• Product leadership: e.g. Apple, Nike, Ferrari • Operational excellence: e.g. Fex Ex, Amazon • Customer intimacy: e.g. Nordstrom

EXAMPLE - DOMINATION

EXAMPLE - ADAPTATION

EXAMPLE - INNOVATION

A brief history of cloud computing

1970s 2006

HOW DO YOU DIFFERENTIATE FROM YOUR COMPETITORS?

30’ round table discussion

INTERESTED IN LEARNING MORE?

• Frederic Moreau, PÖL Digital

StationC, Suite 204, 5605 de Gaspé, Montréal, QC, Canada Cell. 514 503-3357 - fred@poldigital.com ca.linkedin.com/in/fredericmoreau/ !

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