In today’s business climate the only way to grow is to offer your customers more value than your competitors do. There are two ways to accomplish this objective: 1) Lowest price and 2) Differentiation based on other parameters. Low price is very difficult to sustain unless your have a very large customer base with broad reach – think Wal-Mart.
When thinking about other differentiation options, the first that usually comes to mind is product or service features. However, we live in a world where “everyone knows everything” and maintain superior features and benefits is almost impossible to sustain over the long haul. However, once you deliver a superior experience to your customers you can work hard to replicate the methods and, once exceeding customer’s expectations becomes part of the company’s “secret sauce”, you have a long term winning strategy.
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