When developing strategic alliances and fusion partnerships a good methodology is Distinction Over Competition.
Distinction is what differentiates you from everyone else. Every business has its own unique mission, vision and benefits. These include the type of products you carry, the brand of products or that distinct way you deliver your services.
Competition is not a bad word, but it is often used in a bad way. Having friendly competition in business can be a motivator, but too many times the word competition is used negatively. There is a mindset that without competition you become the monopoly, which will then guarantee you success in your venture. Some believe the idea in marketing is to crush the competition until they go out of businesses, thus giving you more market share.
Distinction over competition is working together with like-minded business to highlight all of the unique differences that you bring to the same target audience. Even businesses that are in the same industry will have subtle differences. Two stores that sell fashion will have different brands, styles of clothing and shopping environments. Although these two stores could be targeting the same audience, they both provide unique experiences.
Attitude is very important as it contains a hidden message. If you are excited about the variety and different experiences available within your industry, and you educate your customers about it, they will appreciate the enthusiasm and most likely will return. If you are negative about your competition and would like to see them go out of businesses, you could potentially be offending customers (especially in small towns).
Today’s consumers like variety and experience most of all. Being able to have a selection to choose from and creating an enjoyable purchasing process will create a happy customer. Happy customers go on to tell others about their wonderful experience, while dissatisfied customers will tell even more people about their negative experience.
The Fusion Marketing model is based on Distinction over Competition, working together to create a greater impact and reach is achieved through collaboration. When implemented correctly, Fusion Marketing focuses the efforts of a number of businesses to achieve similar goals. By working in a collaborative way you increase your reach and decrease your costs.
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