Is your product common or unique?
Understanding what makes your product or service unique can be critical in helping you make more money online!
Here is a breakdown of common products and services:
- A common product or service is where customers can easily find the same or similar thing from another company or vendor.
- When you have a common product or service, customers will shop around for the lowest price, and you become commoditized.
- From an online perspective, I have heard marketers call this the Google or Amazon Punch, when a customer searches for a cheaper version of your product on Google or Amazon.
- Promoting commoditized products and services can be challenging, leading to poor results and frustration.
Here are some features of unique products and services:
- Unique products cannot be easily shopped around because they won’t find the same thing elsewhere.
- All roads lead to you.
- This is ideal for selling a product or service since you do not have to compete on pricing as much.
How do you avoid commoditizing your product or service?
Avoiding commoditizing your product or service is mainly about discovering its uniqueness.
How do you find uniqueness?
What is unique about your product that other similar products do not have?
Something to consider when discovering your product or service’s uniqueness is the specific aspect of its creation, design, manufacture, or delivery that is unique to it.
Does your product or service have a different or unique:
- ingredient
- process
- step
- method
- result
- outcome
What other factors determine uniqueness?
- When you promote a product or service, the uniqueness draws attention. You can leverage it to drive traffic to your website.
- People are drawn to something different and new.
- It creates curiosity.
- If you explain how this uniqueness achieves the product’s results, it helps prevent customers from going elsewhere because the uniqueness does not exist anywhere else.
So, what makes a product or service different from all the others available?
What is the uniqueness of your product or service that no one else can get?
I hope this helps in your pursuit of making money online!