10 Tips To Keep Your Business Ahead And Different
More often than not business owners tend to open up shop and there after think that being open will make the business stand out, there are a number of factors that come with keeping the business afloat. To be ahead of the competition you need to be different from the competition.
The following are 10 Tips To Keep Your Business Ahead And Different:
10. Know the competition
You need to know who your competitors are, find out what they are offering and what their unique selling point (USP) is and the kind of customers their business attracts. This will identify the areas you need to compete in and improve on, as well as giving you a platform for differentiating yourself and your business for new customers.
9. Know your customers.
Customer expectations can change dramatically when economic conditions are unstable and unfavourable to their pockets. Find out what matters to your customers the most at that specific moment – is it lower prices, more flexible services, or the latest products in the market? Revise your sales and marketing strategy accordingly to accommodate your customers needs and expectations of your business.
8. Differentiate.
It’s important to have something that will make customers choose your business over your rivals. Your USP (Unique Selling Point) should tap into what customers want and it should be clear and obvious no small print and no one should have to ask what makes you different and unique it should stand out from the moment customers walk through your doors.
7. Step up your marketing.
Always take the time and make the efforts to tell people who you are and what you’re about, what you sell and why they should buy it from you. It doesn’t have to be expensive, marketing can range from attractive posters in your window or a small advertising space in the local newspaper.
6. Update your image
The simplest thing you could do for your business to update your image can even be painting window frames or your doors, getting new curtains can give the business a new and updated look something more modern and inviting to your customers. But also look into business cards, stationery, a cool and user friendly website for your business, branded packaging, clothing and so forth. Does your image reflect your USP?
5. Look after your existing customers.
Your customers at the moment are your competitors target market. Your business should provide better customer service by being more responsive to their needs and expectations, go the extra mile. If it won’t affect your business too much, consider offering low-cost extras such as improved credit terms, discounts or loyalty schemes and points, competitions too, remember, it’s cheaper and easier to keep customers than to find new ones.
4. Target new markets
Selling into a large number of markets can increase your customer base and spread your risk of losing customers. Consider whether you can sell your products online or overseas for a larger range of markets. If there are groups you’ve never targeted before who might be interested in your product you should offer them and see the results in the numbers, numbers don’t lie. Don’t waste time marketing to people who won’t be interested in your product.
3. Expand your offer.
There should be related sales or products that may relate to your business that your customers may be interested in. It may be a good idea to include those products into your services, why not have a one stop shop. You might even consider diversifying into another area that is unrelated to your services but works very well with the products you offer- many cafes have successfully offered Internet access, for example.
2. Be the best employer.
Skilled, motivated and a vibrant team of staff, are a part of a growing businesses.Attracting a great team of people means more than paying a competitive wage or having more benefits – people are often more impressed by a good working atmosphere and benefits such as flexible working and structured career and a more involved employer who takes the staffs needs and concerns into consideration.
1. Look to the future
Businesses that plan for growth are more successful than those that are happy to stay in the same position and era forever, comfortable being stuck in the past. Keep up with developments in your sector and market, follow costumer trends, invest in new technology that will help improve your businesses service, have a clear idea of where you want to be in one, three and five years’ time, hopefully not in the same place that your are in at the present moment.
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