Why Define Your Brand? Part 4

4. By creating a Brand Definition, you'll become more aware of your competition.

Part of figuring out who you are in your business is to do your due diligence and research your competitors.

I have a lot of customers come to me and say "but, I have no competition - my product or service is entirely unique!" I'm sorry to say, that's not the case.

Every business, no matter what you're selling, has some sort of competition. There may be no one doing exactly what you're doing, precisely in the way that you do, but there's going to be some other business out there who could fill your customers' needs in some way. They're your competition.

You may also have direct competition - other pet sitters in your area, or another psychotherapist, or another financial advisor. If that's the case, then you just have to make a note of who they are.

Or, your customers could choose to buy nothing at all - in which case, inaction becomes your competition.

In any case, it's important to know who your competition is so that you can take a look at the brands they've developed. What do their materials look like? What sorts of things do they talk about on their websites?

You should look at these for two reasons. First, you want your materials to distinguish you from the competition - to look and sound different. If everyone in your field is using the color blue, then using green or red instead can help you to stand out.

Second, you want to enable your customers to comparison shop and compare apples to apples. What I mean here is to create your brand to the same level as your closest competitors. If they have a very professional, in-depth website, then you probably need to create the same thing. That way, when potential customers are shopping for your products or services, then you won't be knocked out of the running just because your graphics aren't up to snuff.