How safe are you from business competition?
No matter what type of business you run, there’s just no escaping business competition. So how can you ensure your business is safe from the competitors?
In today’s modern society, consumers are more aware and knowledgeable than ever, as consumers we know all the tricks to get a better deal, we watch our money more than ever and price compare like never before.
Winning over new customers and up-selling to existing ones has never been such a challenge, no matter what line of business you are in.
HOW TO STAY SAFE FROM BUSINESS COMPETITION
Luckily, we’ve got some tips to share that can help keep your business safe from the competition.
#1 Know your USP
Seems obvious, right? But what’s unique about your business? Why should people come to you and not your competitor? Is there a special talent or service you offer? Then shout it from the rooftops, use your USP in all your marketing and advertising, this should the driving force behind your marketing strategy.
Talking about Marketing Strategy, here it is number 2 on our list. To stand out from the crowd, you need a clear marketing path, no shooting from the hip allowed. A Strategy can help you reach your goals and targets, define your audience and allow for measurable results.
#3 Work on your weaknesses
We all have them, there’s just no denying it. But recognizing your business ones than taking the time to work on them, will put you leagues ahead of the game. Improving any areas of weakness is a plus and the sign of a really great business.
#4 Understand your competitors
Get to know your competitors, even make friends with them. Knowing and understanding their business will help you stay one step ahead. Pay attention to the way they sell their services, are you doing a better job?
Lead the way in your industry by being an innovator. Be the first! Get your business and your employees in the habit of constantly creating new ways to do things and get experimenting.
Design a business that is just too hard to imitate, appearance is everything. Your positioning in the marketplace, messaging and brand identity needs to be top notch. What’s your brand personality? What’s your brand tone of voice? How do you communicate, through what channels?
#7 Customer experience
Make it special, make it memorable and make it something your customers will talk about to others. Go through each step in your business as your customer. What’s it like for them? Is it enjoyable, easy? This process will help you spot any weaknesses too.
We hope you enjoyed this week’s blog installment, did it raise any questions about your brand or marketing? Get in touch for a free 15 min discovery call
Who am I?
I'm Gina Dunn, Brand Strategist and CEO of iGina - and my mission is to help entrepreneurs to define and build brands. Let's bring your brand to life!
Did you know that brand-led businesses outperform their competition by 83%? Get started by mapping out your very own brand strategy yourself with our Brand Canvas - get it here.