How To Give Your Company A Competitive Edge
Your organisation must have a unique angle to stand out from the crowd—a compelling value offer. This is how you demonstrate to prospective consumers that your solution is the best one for their needs. For the avoidance of doubt, this does not only apply to your pricing. This is where your competitive advantage comes into play.
Your organisation must have a unique angle to stand out from the crowd—a compelling value offer. This is how you demonstrate to prospective consumers that your solution is the best one for their needs.
For the avoidance of doubt, this does not only apply to your pricing. This is where your competitive advantage comes into play.
Consider the companies that you do business with regularly. There’s a reason you keep returning to the same store, for example, whether that competitive advantage is something as simple as location or pricing, or something more sophisticated, such as your unconscious desire for the social status associated with the transaction.
Whether you sell items, provide services, or a combination of the two, your company must acquire a more unique competitive advantage than the others.
Improve Your Capabilities
There are many different ways you can improve how you work, but one of the main ones is looking at the tech and IT systems you have in place. IT Support is vital for businesses worldwide and ensuring that your IT can keep up with what you need it to every day and support you reliably and securely.
Remove the need for manual actions by utilising automated systems to allow your employees and, by extension, yourself to focus time and energy where needed, thanks to the small mundane tasks being taken care of for you. Technology is ever-evolving, and to keep your competitive edge, you need to have your finger on the pulse of what is on the market to help you do what you do, just better and easier.
Niche Down
On the surface, being like everyone else and pleasing everyone might seem like the way to go. But this isn’t always the right route. After all, you can’t please everyone all of the time. And the more people you are trying to please, the harder it will get.
Niche down who your ideal client is and what it is they are looking for. Then do what you can to appeal to that small section of people. While you might not be right for everyone, being perfect for some will help you stand out in that market and create a name for yourself.
Go The Extra Mile
Your relationship with your clients makes them keep coming back or retaining your services for longer periods of time. Doing that little bit more, or the unexpected now and again, will really help to set you apart.
Small things such as sending a bouquet to celebrate birthdays. A shout out to clients to achieve milestones and successes in emails or social media accounts or offer little perks your competitors don’t.
It is how you nurture your relationships that will set you apart and give you the edge, and this shouldn’t be a blanket approach. One estate agent found success in offering activity packs for parents viewing houses with their children. This allowed them to keep the children occupied in a fun way while the parents took care of the formalities of looking at properties, arranging paperwork, etc.
Improve Your Culture
Customers like to do business with companies that care about their employees. At the same time, these companies have the ability to attract the most talented individuals. This skill is then channelled into providing excellent service to the company’s consumers as a result.
And if you have a large presence on social media and your employees are happy in their jobs, your reputation will improve more, and word of mouth about how amazing you are will be an effective marketing tool in itself.
A win-win cycle that promotes positive growth while also fostering the establishment of a compelling competitive advantage.
Speak At Events
People who are vocal about what they do and speak at events can help to improve their perceived authority by showing off exactly what they know, their thoughts and their expertise on the subject.
After all, if you are unknowledgeable about something, you wouldn’t be asked to speak on it, would you? On the face of it, it may not improve sales; however, when you factor into account the number of people who will be at these events and potentially taking in your presentations, you are more likely to be able to set yourself apart from others by improving your presence and visibility more professionally.
Improving your competitive edge in business is about being able to stand out from the crowd for the right reasons, not be the loudest with unsustainable offers, pricing and deals that are only there to reel people in. While this helps get the fish on the hook, so to speak, keeping them in your fold or even opening them up to what you can do will help you build authority and presence and become a leader in your industry.