Ways to Achieve Your Business Competitive Advantage
It has become increasingly difficult to manage a business with a key point offering. This is because consumers expect both high-quality products and great service as they do business with you. Your customers are also bombarded with hundreds of sales messages. Copying strategies, technologies and ideas can happen quickly, even overnight.
So is it still possible to gain a competitive advantage in today’s digital marketplace?
Offering the lowest prices and being cheaper than your competitors is not the only or best way to gain competitive advantage. Most business owners tend to worry when they can’t keep up with their competitors’ low price offerings.
If you can compete with their price, do it. If not, then stop squeezing your margins or you’ll end up losing in the long run.
Remember, price is not the only weapon that you have!
Here are some business strategies that will help your small business achieve competitive advantage:
1. Earn your customer’s trust
Constantly share your knowledge to establish credibility. Customers will do business with you only if they trust you, your business and your products or services. Once you achieve that trust, focus on maintaining that.
2. Provide what your competitors don’t
Even a simple freebie or treat makes a difference. You can offer free shipping or other offers to your customers. When they visit your shop, give them a free treat or additional service. Just make sure it is something unique and interesting that will make them remember your business.
3. Offer reliable online ordering
Make it convenient for your customers to do business with you. Ensure that your website is efficient, reliable and easy to use. This way, they can browse your products any time of the day. Also, don’t forget to answer their questions as soon as possible.
4. Step in your customer’s shoes
Be customer-centric, rather than product- or service-centric. See the world from your customer’s point of view. Take a look at your website, social networking sites, staff, storefront, services and everything. Be your own customer for a day. From there, you’ll get to know what a customer needs and what you still need to improve on.
5. Offer the best customer service
Aim to have a good relationship with your customers. Be polite and welcome them as they visit your store. Respond to their complaints, feedback, and questions quickly. Make sure that you keep them happy. You’re likely to see them again and they will definitely refer you to others if they’re satisfied.
6. Improve your offerings
Get innovative. Always find time to make improvements in your product/service offerings. It makes a big difference. You can try making it more efficient or have better quality than the current offerings on the market. Better if you can include a unique aspect to your offerings, such as being eco-friendly, fresher, homemade, etc.
7. Seek strategic alliances
Form alliances with other businesses in related industries or within the same industry you are in that serve your target customer. You can use these to pool more resources and gain more exposure.
8. Identify your competition
Find out who your competitors are and where they are located. Know their target market, their strategies and how they differentiate themselves from the rest of the businesses in your industry. Are there products or services that you don’t offer? The more information you gather from your competitors, the more equipped you will be in developing your sales strategies and marketing plans.
Watch our business-altering video titled The 3 Biggest Lead Generation Mistakes Small Businesses Make… And How To Overcome Them All. We’ll reveal the strategies you can immediately deploy that will enable you to out-think, out-market and out-sell your competition. http://maximizeracademy.com/
355742 43454Ive been absent for some time, but now I remember why I used to enjoy this blog. Thank you, I will try and check back more often. How often you update your internet site? 573783
930941 281702Wonderful post, I believe website owners really should acquire a lot from this internet website its extremely user pleasant. 127821
623196 389789Hello to all I cannot understand the approach to add your website in my rss reader. Assist me, please 433384
755168 425831Wonderful process! 273182
891169 79564Its like you read my mind! You appear to know a whole lot about this, like you wrote the book in it or something. I think which you could do with a couple of pics to drive the message home a bit, but other than that, this is amazing blog. An excellent read. Ill surely be back. 149902
180688 596807I adore your wordpress web template, wherever would you download it from? 234416
81413 200275As soon as I discovered this site I went on reddit to share some with the really like with them. 294813
993201 120657I truly like forgathering utile info, this post has got me even much more info! . 454650
185476 490037I like what you guys are up too. Such smart work and reporting! Carry on the superb works guys I?ve incorporated you guys to my blogroll. I feel it will improve the value of my web internet site 241977
835698 361317I admire your piece of function, regards for all the interesting posts . 938792
858922 418233Intersting post and web site. Excellent that Google listed so i was able to get here. This website will go no in my bookmarks from now. 566472
110656 771417Maximize your by how a large amount of gear are employed internationally and will often impart numerous memory employing that your is also fighting that can be a result from our team rrnside the twenty 1st centuries. everyday deal livingsocial discount baltimore washington 270391
679131 608947Hey! Good stuff, please keep us posted when you post something like that! 770377
116828 747438I just added this blog to my rss reader, excellent stuff. I like your writing style. 796565
804571 714499Helpful info. Fortunate me I discovered your internet internet site by chance, and Im surprised why this twist of fate didnt happened earlier! I bookmarked it. 943116
821929 751342Aw, i thought this was quite a very good post. In concept I would like to devote writing such as this moreover – spending time and actual effort to produce a terrific article but exactly what do I say I procrastinate alot by no indicates manage to get something done. 390110
988732 358340woah i like yur site. It truly helped me with the information i wus seeking for. Appcriciate it, will bookmark. 209954
656568 431285This is 1 extremely intriguing post. I like the way you write and I will bookmark your blog to my favorites. 838111
993275 406170cool thanks for reis posting! btw are there feeds to your blog? Id adore to add them to my reader 666757
581271 40829I dont normally look at these kinds of web sites (Im a pretty shy person) – but even though I was a bit shocked as I was reading, I was certainly a bit excited as effectively. Thanks for giving me a big smile for the day 328316
372606 38267Cpr KIts quite wonderful read you know alot about this topic i see! 94617
991522 660126Rattling outstanding info can be located on web blog . 538583
473108 990533Really fascinating info !Perfect just what I was searching for! 88504