Why Differentiation Matters

By Meredith Jung on February 14, 2024


With all the recommendations out there to "differentiate" your company, brand or offerings, you'd think there'd be a compelling case for WHY you need to do it.

But if you've ever searched the term, you know most of the articles on Differentiation are more opinion pieces than compelling cases for change.

Let's change that.

Here's why differentiation matters--backed with stats to prove the point.

PS - Don't have time to read this an article? Get the infographic here.

PPS - If you're wondering what Differentiation is, check out my article "What is Differentiation".


B2B buying in 2024 is hard.

The average buying process for a B2B solution over $10,000 involves:

  • 9 individuals

  • A category of solutions with over 40 vendors (in the case of CRMs, over 500)

  • 4 short-list vendors

  • 15 interactions per person with each short-list vendor

The process typically takes just under 11 months.

The average buyer completes 70% of the process before they contact a vendor.

78% of the time their requirements are mostly set before they talk to a vendor.

And 84% of the time the first vendor they contact wins the deal--meaning they narrowed down a likely winner by themselves too.

That's a lot of work for the buyer.

Especially given that the Top 20 vendors in most SaaS categories look indistinct.

Differentiation helps buyers more easily decide which vendors to put on their shortlist and which one to call first.

It also helps vendors win more business.

The more clear you are on your differentiation, the more likely you are to land on the shortlist.

The louder you shout your differentiation from the rooftops, the more likely you are to be the first vendor a buyer calls.

In my experience, B2B tech startups that amplify their competitive edge with clear differentiation typically increase their win rate by 15%.

Do you want to achieve similar results? Focus on nailing your differentiation.

I can help. Book a session today.


About the Author

Hi! I'm Meredith, a Product Marketer and Differentiation Whisperer.

Differentiation Whisperer? Yup.

I have a knack for identifying what makes companies and products better for their target market, and communicating that in a way that convinces prospects to buy.

Intrigued? Book a session today!


Sources

https://6sense.com/report/buyer-experience/

https://www.allego.com/blog/how-b2b-buying-behavior-has-changed-forever/

https://www.linkedin.com/posts/peeplaja_should-most-b2b-companies-let-go-of-the-pursuit-activity-7152661820049145856-pWlX

https://www.forbes.com/sites/forbesbusinesscouncil/2021/11/24/how-business-leaders-can-evaluate-saas-product-and-b2b-data-vendors/

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