In the fast-moving markets of today, where customers are smarter and more active than ever, business trends and competition can be fierce, and you need to stay on top of so many things. To stand out, your company must have a unique angle. You need to prove to your customer that your product or service is right for them, and you need to cover all possible angles.
You can do a test on yourself as your first step. Think about the companies that you use often. There is a good reason you keep buying from the same company over and over again. It could be as simple as pricing or the closeness of the business to you. Or it could be something deeper as in social prestige or branding. In any case, let’s do some marketing tips and tricks on how you can defeat your competition and stay on top of your game consistently.
1. Analyze Your Competition
To take on your business adversaries, the first thing you should do is to learn as much as you can about them. All from who they are, how long they are in the market, and who their clients and customers are. You need to be close or match what your competition is doing if you want to overtake them. This process will help you identify any weak spots where you could overtake them, and it will allow you to max out these strengths to attract new customers.
A small operation won’t have the money to hire a marketing analyst, it’s still possible to get an edge over your competition with a basic competition analysis. Maybe your competition has a better site, where you need to work on your site. Perhaps a basic SEO campaign can do wonders. Increase your website traffic with SEO, and that let that be your first action.
Many bosses will focus on brands that offer similar products and services to the same market segment. You’ll have to convince them that your business is the best and you should follow any tricks from any industry! But here is where you can be sneaky and do something good. You should also look into other businesses that offer a different product. Maybe you can add something to your service that could benefit you.
2. Build Your Brand and Ambassadors
The best way of marketing is one of the most classic ones. Viva-voce or word of mouth aka. Just people talking to each other about your business. That is still the best way to draw customers away from your competitors. If an existing customer recommends you and your service it greatly impacts potential customers. Online reviews and comments can be very strong when converting visitors into clients.
Businesses can get existing clients to promote their brand through referral programs, like bonus points for sales. This can be inexpensive for you but super effective for getting new customers. Don’t underestimate the power of influencers and brand ambassadors. You need to be aware of how much it can mean if someone is essential or loved by their followers.
The proper promotion can lead to a significant increase in sales and building the authenticity of your brand. In most cases, you may just need to send some of your products to a micro-influencer. Ensure that you have a running social media presence and a nice newsletter, including discounts or special offers. People love those, but you need to be good at marketing and make it really special.
3. Don’t Underestimate Your Prices
Many businesses believe that lowering their prices is a way to be noticed and more popular, but this usually turns on them in the long run. Moreover, this can be a serious financial mistake for you.
The price means something to the consumer, and you need to find the delicate balance of the notion that your customer needs to be valued, too. If he values himself or his money, he won’t get the cheapest option, even if that is maybe the best one.
We are not saying that you should go into the realm of prestige pricing, but be aware of the prices in the market and think how it can affect the train of thought of your customer. Of course, this is in the case where you know you can bring the quality of your product or service. You need to be absolutely sure about it.
4. Treat Your Customers
Your clients should always stay happy, and the small things can mean a lot. Especially if you want to create a loyal customer base who will stay with you for years and years to come, the small things can go a long way. If you provide a service, it would be as simple as handing out some candy with the receipt.
Goodie bags for your most loyal customers, extra discounts after several sales, loyalty points…you have so many options. That’s where you can pick up on tricks from other customers. It could be simple as the tenth coffee is free if you happen to run a cafe or a food establishment. It’s a simple, inexpensive option, but it’s sure to delight clients and their kids if you happen to have a business where you deal with children, too.
What if you went a step further? What if you spent time and energy building real relationships with your customers. Be it that you connect to them via the phone number or that you grab a drink after work.
Genuine relations are the competitive edge where you can really stand out.
5. Be a Great Boss and a Cool Company
Creating a good atmosphere around your brand should be a priority. You don’t want to underestimate happy workers, people who are satisfied with you being their employer. Investing in creating a great atmosphere in your shop or business, just imbuing your website or service with personality and soul will give you numerous benefits.
Customers today will value that you value your workers, and with this, you will also attract talented people to your niche. These talents, in turn, provide outstanding service to the company’s customers. A win-win from all sides!