Top 10 Steps to Stand Out Against Your Competitors
Are you worried that your business competitors are drowning you out? Starting a business is hard enough, but with competitors all poised to give you a run for your money, staying in business is even harder.
Thankfully, a bit of business wit can go a long way in making your products and services stand out in the market and giving you an edge over your competitors. 1. Give your customers something unique.
Give your customers a special reason for preferring your products/services to your competitors. For example, if you’re in the food business, use organic ingredients. If you’re in the printing business, use high-quality materials. Maintain this edge at all times, and over time people will come to see and appreciate the difference
2. Win awards.
Find out what kinds of awards are applicable to your business and try to qualify for them. Awards are excellent marketing tools that help to gather publicity as well as make it easier for your potential customers to trust you. Once you win an award, do your best to maintain it. Longstanding awards add a lot of equity to any business.
Find a niche that you can specialize in. You can focus your business on this, or offer it alongside your general appeal products. If you specialize, your clients will go to you for something they will not find in other companies.
4. Listen to customer feedback.
Listen to what your customers have to say and respond to their feedback. This will help your business improve and will also score you bonus points with your customers. Knowing that you listen to them, your customers will definitely trust you more.
5. Connect with your customers.
Nowadays, there are many ways to connect and build a relationship with your customers, so do take advantage of these methods. Create a Facebook page, make a blog, and interact personally with your customers. This also gives them an easy way to find you and contact you in case they have questions.
6. Time is of the essence.
Chances are that your competitors are just as good as you, but if you get there faster, you will have a bigger chance of winning the deal. Respond fast and serve quickly. Deliver ahead of time. Return phone calls and respond to e-mails almost instantly. Many consumers are willing to pay a higher price just to get the answers or the products/services that they need in less time.
7. Create a consistent look and feel for your business.
Build your corporate identity by creating a consistent image for your company. Make sure this image carries over to every point of interaction between you and your customers.
8. Know your competitors.
There’s no need to focus all your efforts to this, but take the time to get to know your competitors. This will help you determine how to attain an edge over them. Learn from their mistakes as well as from their strengths.
9. Take care of your loyal customer base.
Don’t spend all your time looking for new customers. Once you’ve built up an existing customer base, make sure to take good care of them. According to the Pareto Principle, you get 80% of your profits from 20% of your customers, and this 20% is made up of your loyal clientele.
10. Don’t sell; satisfy.
Don’t make selling your only objective in doing what you do. Make customer satisfaction your priority. Aim to satisfy needs and wants, provide solutions, and deliver answers.