What is most difficult in a Competitive Market?
The answer is certainly- to make an impression that lasts. It is far more vital than simply establishing a business.
Today the business world is a hundred if not a thousand, times more congested as a huge number of small new companies, startups, etc inhabit it. Therefore, a problem often arises if you sell the same thing or service as the local producers. The situation is even worse in case your company produces something or a service that is too common and generalized; in that case, you have to often compete with the multinational business corporations who always seem to get ahead of you with their lucrative low prices that draw customers and of course, a great financial and logistics backing that a small newly established company would find hard to obtain.
And this doesn’t mean that already established ones don’t have this headache. Even those billion-dollar mega industries and multinational corporations have a public relations department and dedicated advertisement teams. And what is the purpose anyway? It is to prove that you’re better than the others; it’s to convince probable customers to choose you over a hundred options available in the market. The people must be impressed, which is even more vital than your typical research and development activities.
Do you have a business, or are you thinking about starting one? Do you feel like your company isn’t performing well in the market and not gaining enough responses? Then, it might be a good time to implement some smart strategies urgently to make a lasting impression in the market that will help you stand out in a Competitive Market.
But this is easier said than done. We know how difficult it can be to implement a strategy that works well in the ever-changing market! But you don’t need to invent anything. We’ve done the research work for you, so you can just sit back, relax and plan accordingly.
Read till the end to learn some curated tips from the industry’s top experts who have done that a hundred times before you.
6 tips to make your business truly stand out in the industry
Here are some useful strategies for you that you can certainly implement to get some astounding results.
Great customer service
Customers are what makes you great, and fantastic customer service is the backbone of the industry. Round-the-clock, 24*7 customer care facilities must be ensured with instant redressal of the lodged complaints. A happy customer would gladly do your free promotion before their family and friends and bring along more customers next time. But a flawless customer service system would remain a utopian dream if your company doesn’t have a sufficient number of well-trained and equipped staff in the first place. As the prime motto, professionalism must be held high in all situations, but sprinkle it with a touch of love!
Consistent Branding
As the great writer Harrari said in his massively influential book Sapiens, your company is not a real person anyone can interact with. Rather, it’s more like a collective mythos, an imagined entity created by you and your staff that has huge effects on the real world, and now the people get involved too. Your company is your identity; your brand is your identity, and vice versa. So holding your brand image high is a go-to strategy regardless of how big, small, or famous your company is. But in order to do that, first, you need to make your brand image which won’t be easy in this age of cutthroat competition.
A great way to build your brand image can be through advertising, which we’d discuss in a moment. What we suggest now is even more effective as it emphasizes direct person-to-person communication and real connection. You got it right; we’re talking about Personalised Business Cards here. A professionally designed, premium-looking business card is super easy to hand over to any prospective client anytime, who can go over it occasionally and even refer it to their colleagues, friends, and family members anytime they wish. It might work better if done properly than hoardings,d TV advertisements,s, or online video features. People might choose to ignore a banner and skip a video, but when you hand over your personalized business card by Mobilo to someone, they’re bound to notice it and think about it. Get your card printed today!
Innovative style and products
The above-mentioned stuff is important, but a good brand value is practically useless without an avant-garde range of products to support it. This is why all great entrepreneurs focus on R&D, i.e., research and development, so much. Of course, you don’t need to be Archimedes or invent gravity, but presenting the old products in innovative packaging or producing a better version of your already existing products is an art too, what we call – old wine in a new bottle!
And in this competitive business sector, unlike the culinary world, that bottle is often a hundred times more important than the wine inside. So start redesigning your catalog today, launch a new range of products, and relaunch the old ranges with added benefits and enhancements. Do it now.
Brand Endorsement
Common people are least interested in your statistics, graphs, and bar diagrams, and they’re not at all bothered to hear that all those boring details about your product are better than the ones they have already been using for years.
But when Tom Cruise says he uses this brand of suits, or when Ana de Armas says this is her personal favorite lipgloss of her, people run behind it like maniacs. Just imagine how costly some premium clothing brands are just because they’re owned by some sportspersons or film celebrities or at least are signed by them. Simple, nah?
We’re not asking you to call Chris Hemsworth and ask him to be your business partner, but what you can certainly do this endorse celebrities to promote it. Contact agencies and get your local or national celebrities signed up to shoot a promo, or maybe just give them a bite! It works like elder magic. We promise.
Follow latest trends
People are social animals, and we like to follow trends in society. So go through your Instagram or YouTube feed if you don’t believe it. Everything, from the latest dance videos to promo features, all go around some crazy trends that are currently hot topics everywhere.
It’s better that you follow it too. It’s far easier to get attention that way!
Competitive prices
Humans are simple creatures, and at the end of the day, we buy what suits our budget. Pocket-friendly prices always beat your ten or fifteen added new features. Tally the prices offered by your competitors and offer a little less (but ofc not too less to cut down your margins). A small sacrifice on the margins would certainly balance with the bulk sales.
So that’s all you need to build your business effectively and stand out from the maddening crowd.
Do smart work, not hard work! Make yourself heard!
