“There is nothing new except what has been forgotten.”
– Marie Antoinette
It’s long been said that nothing “new” has been created since the dawn of interpersonal communication. The only difference is the value you bring to your product/service through your own unique experiences and explanation.
Yet, to capitalize on the unique value you create, consider using The Market-of-One Naming Strategy™ to further differentiate yourself.
This is a core concept we’ve used to drive millions of dollars to our clients, and those clients struggling to differentiate themselves from the competition.
The Market-of-One Strategy™ takes an ordinary process, principle, service, or philosophy and uses it to instantly differentiate your offer – and makes it more valuable, unique, and important.
For example, say you have a simple performance supplement…
Use The Market-of-One Strategy™, and now you have a diet supplement powered by “The Focus Power Complex™.”
Both have similar ingredients, but only one supplement contains “The Focus Power Complex.”
…Making it unique, and most importantly, increasing the perceived value of the product.
The Market-of-One works for every business – no exceptions.
Ryan Deiss (of Digital Marketer) is credited with coining the term “tripwire” to reference a low-cost, introductory sales offer.
Many business owners viewed this as a breakthrough in marketing… But the funny thing is… “Tripwires” have been around for over a hundred years.
When someone requests a strategy session, it’s encouraged that they complete a questionnaire so we can provide the most value possible during our time together.
By itself, a “questionnaire” doesn’t have much perceived value – so we rebranded the questionnaire to call it The Profit Profile®. With the new branding, it has higher perceived value.
You see, whether you’re an accountant, lawyer, exterminator, metal fabricator, photographer, manufacturer, retailer, wedding planner, writer, coach, funeral director, videographer, SaaS, widget manufacturer, or are in the business of teaching parrots how to talk, you have competition…
Even if you think your product or service isn’t “original,” you can make it original with a unique name.
To create a Market-of-One name, we use the following guidelines:
The (Keyword) (Trigger Word)™
1. Begin with the word “The.” Using “The” makes it sound more important and singular (as in, it’s the only one).
2. After the word “The,” use a keyword (or keywords) that best describe the benefit or process in that step.
3. Follow it with a “trigger word.”
Examples of trigger words:
Finally, add a little ™ at the end of the word. The use of the trademark (TM) symbol puts the competition on notice that the business owner considers the name a trademark, and should one of your competitors violate your intellectual property, this will provide you with some legal grounds for protection.
Now, you don’t need to file any paperwork to use the TM symbol, and the TM offers less protection than a formalized registered trademark… But hey, enough of my legal talk. If you’re worried about protecting your name, ask your lawyer for more info.
…And keep it between 3-4 words (including “The”).
We use The Market-of-One Strategy™ to explain buying processes (as we mentioned above), strategies (hence the name of this strategy), philosophies, product development phases, service delivery steps, information product modules, and anything else that’s important to differentiate from our competitors.
Break down your buying process, look at what other processes your customer/product/service goes through, and begin to brainstorm your own Market-of-One Strategy for your business.
Those of you who take action will very quickly thank me.