If your company’s USP (Unique Selling Point) is speed, size, features, availability or price then you’re in trouble. We all know it’s only a matter of time before someone rips off your latest and greatest ideas. Incremental product improvements requires lots of time and money but only generates marginal increase in revenue at best.
You will also find that those kinds of USP’s don’t get you very loyal customers. They get you customers that focus on how and what rather than why. You need to prove that you understand your customers, share their values and passions and diserve their loyalty.
As a true coffee-nerd I know for example that the key to the success of Starbucks isn’t the taste of the coffee, it’s the user experience. How else could you take a commodity worth 2 cents per cup and sell it for 5 euros per cup through an automatic coffee machine?
Spotify didn’t reinvent music, they reinvented the experience surrounding music. Uber didn’t reinvent the taxi, they reinvented the experience of personal transportation.
It’s time to really invest in experience innovation. Look at the entire buying process in your industry, from the first need to the delivered solution. Think about what makes your customers especially happy or sad. If you manage to innovate a disruptively great experience you won’t just win a happy customer, you’ll win a brand ambassador.