Running a business can be intense, and you have to always keep your competition in mind to stay ahead. Here are five tips to help you rise above your competitors and soar to the top of your business game.
1. Take the time to learn about your customers.
The best thing you can do early on in your business is to learn about your customer and attain your customers’ voice for integration to everything you do. Companies like Alchemer offer Voice-of-the-Customer programs designed to make your business customer-centric by enhancing and extending marketing automation, CRM, and support solutions. Utilizing these resources will be clear in all of your decisions and interactions that your business is focused on your customers’ needs and wishes.
Being truly customer-centric will work to differentiate you from your competition in a positive way. In many business areas, customer service has declined, so more and more people gravitate towards businesses that offer the highest quality customer service even if the products or services cost more.
2. Get creative with your marketing efforts.
While there is still a place in marketing for traditional methods, if you want to rise above your competition, you need to get creative in your marketing efforts. You need to rise above in how you connect with your target demographic and promote your business. Creative marketing can be focused online or offline, depending on where your customers are coming from.
If you have both physical and digital presences, it’s important to focus on online and offline marketing efforts. Depending on the type of business you are running, you can take your marketing in many different directions. While it may help see how your competition is marketing their brand, do not get hung up on what they are doing.
3. Focus on the quality of your services and products.
Nothing will ever replace high-quality products and services. Marketing and customer service are vital to thriving as a business and rising above your competition. However, if you are not offering great products or services, you are going to fail. You will not get repeat business, loyal customers, or word-of-mouth advertising. On the contrary, customers will advise their friends and family to go to your competition due to their disappointment. When making changes and developments or looking for ways to cut costs, never sacrifice quality.
4. Make sure your business is fully protected.
Not doing the leg work to ensure your business is fully protected will put you at risk of going out of business completely, which will clear the path for your competition to take over the market. When you are opening a business, you need to look into all the applicable permits, licenses, and certifications you may need to operate your business legally. You need to make sure you have all the business insurance you are going to need to protect your physical property and assets as well as your overall business and reputation from lawsuits. Depending on the type of work you do, you may also need to be bonded. Take the time to do your research before you launch, and follow through on everything you need.
5. Give your customers a little extra.
A little extra will always go a long way in regards to customer service and attaining customer loyalty. A little extra does not mean extravagant or expensive, just something to show your customers how much you appreciate them. For example, an online pet supply company called Chewy includes a dog biscuit with every order of dog supplies. There will always be a little treat in the box for your four-legged friend when you get your supplies. This example is a small gesture on the part of the company, and likely costs them a nominal amount since they are getting the biscuits at wholesale prices. Yet, it is a gesture that customers and their pets appreciate, and it makes them take notice of your loyalty to them.
