Your competitive advantage helps you differentiate yourself from the crowd, while highlighting your value. What unique value do you provide to your clients? What cool skill or service do you offer that makes your studio stand out above the rest?
It’s important to keep in mind that a competitive advantage must be difficult for others to duplicate. If it’s easily copied, then it’s not really considered a competitive advantage.
Take Steinway as an example. They don’t mass produce their products on an automated assembly line like their competition. Steinway only offers an uncompromising product. Their pianos are hand crafted over a span of 2 years using only the best materials. This makes each piano unique, while adding value at the same time. With all of this considered, Steinway is able to present themselves as the best in the world and can charge a six figure price tag for each piece.
So, what is your studio’s competitive advantage?
It may seem daunting, however you should take this as an opportunity to do some soul-searching. First of all, think about what you’re best at and why. Get some testimonials from your long-time families and see if there’s a common thread among them. What makes your studio or the lessons you offer so special, and why should this result in students picking you over the competition?
Additionally, consider researching your competition. Have you lost music students due to their studio providing something you’re not? What kinds of lessons or programs do they offer? Are there certain kinds of lessons or programs they offer that you don’t? Some other questions you may want to ask: What do customers buy from you, and what do you need to be successful? What do students and families love about you and your studio? Above all, you want to focus on how families will benefit from lessons with you.
What’s our “special sauce”? Well, we’re the easiest way to automate and streamline all that unpaid admin work you do, while letting you get back to teaching. Start your own 30-day free trial of My Music Staff today to experience this first-hand!