Standing out in business is tough at the best of times, but at the moment, due to the global pandemic, it is even harder. Not only do you want your business to survive this difficult time, but you still need to compete with other companies and stand out from the crowd at the same time. So how can you go about it? How can you get the competitive edge in your market? How can you get a unique angle, something that sets your business apart from all the others and makes customers more likely to choose your product over someone else’s? It would help if you had a competitive edge because, without it, your business has no unique way of drawing customers in. So if you don’t have one or you don’t know what yours is, here’s a few things that might be able to help you.
Many people think that if they slash their prices then this is how they will stand apart from the competition and get more business. However, the truth is quite the opposite. If you charge more or go with a method called “prestige pricing” then you will appeal to buyers who don’t take cheaper products seriously. This concept is also used to boost margins and increase your brand’s image and social capital. However, if you’re going to do this, you do need to make sure that your products or services justify the higher price point.
Have an amazing design
A design that stands out and one that creates a lasting impression on your customers is something that not every company manages to do, but branding is hugely important for your business to stand out. Your branding needs to be recognisable for your company or product. If your branding is no good, then you may find it difficult to get recognised and have success. Then there’s the design of your website to consider, did you know that 94% of people don’t trust outdated websites? You want to show your clients and customers that you are professional and can do a good job, so if you don’t do the same for your own business, then it doesn’t give a good impression as to what service you can provide them. Design in business is important on so many levels, and the role of design operations is one of those things that you don’t know what you’re missing until you’ve tried it. And once you’ve tried it, you can’t imagine the world without it. It would help if you always looked to the big companies to see what works and what doesn’t and you only have to look at Coca Cola to see how important branding is. Other major brands such as Airbnb, Twitter, Lyft and LinkedIn now have in-house DesignOps teams to deliver amazing design at the scale the market demands, so maybe it’s something to consider.
Become an Online Influencer
Although the term “Influencer” is a slightly loose one these days, its function as a competitive edge is simple to understand: The more people who know and respect your company, the more customers you’ll acquire when these same people have a problem you can solve.
Speak at Events In Your Industry
Speaking at conferences, meetings, and other events have a similar impact on expanding your company’s perceived authority.
Stay Ahead Digitally
Technology is the present and the future, and it’s changing all the time. If you want to stay ahead of the competition, then it’s vital that you are on top of emerging technologies and trends in your market. For example, get an app before everyone else in your industry does or a barcode to scan. Educate yourself on how the right software can help your business work more efficiently, be more productive and gain a leading edge in even the most competitive markets.
Create Your Own Data
Data is changing the way the world works, and it is changing the way business is done. Today, there is so much access to data to find out everything about your customers or audience. However, you don’t have to use someone else’s as you could be the business that other businesses cite in their content. This will really make your industry presence grow.
Find Your Niche
Trying to be everything to everybody means you’ll end up being nothing to nobody. Many successful businesses today are just focussing on the one thing, and they are doing it really well. People will then see you as the expert in that field, and when it’s that particular product or service they want, they will come to you.
Offer An Extraordinary Service
Your service must be extraordinary. This is so important; it’s no good just being noticed for what you look like or what you supposedly offer, you need to provide a service unlike no other, something your customers can’t get anywhere else. This will put you above all the rest, to begin with, and people will start to spread the word for you to help you stand out.
Create Powerful Offers
Offers are a great way to attract custom in the first instance, and guarantees are also a great way to assure customers that they can trust you and your product and it takes out the risk for them of making the purchase. If you can also offer an excellent shipping service – free would be nice, then this goes a long way with the customers and often puts you above your competitors.
Instill An Attractive Company Culture
Having a great company culture is useful for your employees and you, but it also acts as a really powerful marketing tool. Your staff are your ambassadors and will spread the word about your company if they’re happy working there. People also love to know what goes on behind the scenes at a company. If you can show on your website or social media, your employees having fun, enjoying their work, then customers will feel like they know you, it makes things more personable and your company more approachable.
Add The Personal Touch
Nowadays a handwritten, personalised note with a delivery goes a long way. It makes the customer feel special and adds that personal touch. It makes your product and your service stand out from the crowd. Equally, chatting to your customers on social media, responding to their tweets or photos makes them feel special too. Or just send them free gifts or samples. This will always go a long way to getting you noticed and put you above everyone else when it comes to choosing your type of product or service again.