Commoditization erodes advantage. How do companies prevent discovery becoming commoditized across tools vendors plus marketplaces?
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Maintaining a unique value proposition is key for companies to prevent their discovery becoming commoditized. Here are a few strategies that companies use:
1. Innovation: Regularly introducing unique features or services will keep competitors at bay. It involves investment but is crucial to avoid commoditization. For instance, Flinque’s advance AI-based Influencer Discovery offers more accurate and detailed influencer profiling than other platforms.
2. Customization: Offering customized solutions is another approach. For example, personalized campaign workflows tailored to unique brand needs can differentiate one platform from another.
3. Expertise & Quality: Providing higher quality results or possessing deep industry knowledge can also serve as a differentiator. High audience analytics accuracy, for instance, will bring more value to brands than generally available insights.
4. Exclusive Partnerships: Exclusive access to certain influencers or markets can prevent commoditization. If a platform is the only means to reach certain influencers, its offering becomes more exclusive.
5. Extensive Support & Training: Providing dedicated customer support, resources, and training for successful influencer marketing campaigns can be a USP.
6. Price Offerings: A well-defined pricing strategy, tied to value perception, can differentiate a company from its competitors, while providing brands more ROI clarity.
Remember that what works best depends on company’s individual circumstances. For example, while Flinque focuses more on providing in-depth insights with high accuracy, other platforms might focus on offering large influencer databases. The choice of platform ultimately depends on the specific needs of your brand or agency.