If you find yourself doing business in a crowded marketplace, what should you do to stay atop the crowd? How about if you are just a startup and your competitors have more resources and experience than you?
Frankly, it can be really challenging as you will definitely see yourself swimming against the tide!
But even in such daunting situations, there are things you can do as a startup to change the tide of things. In this article I want to share with you some great ideas that will help you turn things around for your good!
Try these tips today and you will see miraculous results:
Nowadays, consumers expect a little more from businesses. One of the big developments of the last few years is the move towards a more personalized service. It’s no coincidence that some of the most successful customer-facing businesses are those that offer a personalized services.
This change is partly down to the rise of the internet in the role of commerce. But the best businesses don’t confine their personalized services to the internet. It’s very easy to offer a personalized service online, but it takes a bit more effort to personalize your service in the real world. But it’s something people really appreciate.
2. Give People a Reason to Switch
When you’re starting out in business, there are probably plenty of other businesses competing for the same customers that you are. And if these businesses are already more established and experienced than your own, you’re going to have to come up with a good reason why they should switch to yours.
This is key to success for a startup.
You can’t expect customers to simply switch to your business just because you exist. There has to be a reason for them to do so, otherwise what’s in it for them? It might be that you offer them something unique and different or give them a great introductory price.
3. Focus on Customer Satisfaction
Keeping your customers happy is one of the hardest things about running a business, and that’s something that not enough young entrepreneurs realize. If your customers are happy, your business will be all the better for it. But if you don’t make sure they’re satisfied, you can start to see your profits fall.
To find out what your business is doing right and wrong in the eyes of your customers, you should ask your customers for feedback. You’ll be surprised at how many people are keen to give feedback after they’ve bought from your business. You should also make sure your customers services department is fit for purpose.
4. Find Your Niche
It’s much easier to operate a business if you have your own niche. It allows you the room to build up your own base of customers, meaning you don’t have to rely on persuading customers to switch from another business. It’s not easy to find a niche for your business, but it’s the easiest way to stand out from the crowd.
If you work hard and have a creative team of innovators behind you, it’s perfectly possible to carve out a niche for yourself. It could be a niche within an existing sector or it could be something entirely new. Just use your imagination and work hard at it.
5. Make Media Contacts
Being in the good books of influential people in the media can only be a good thing. They could give your business a lift by mentioning you on social media or mentioning you in an article. Don’t just ask for a namecheck though. They won’t respond to a request for free advertising, but if you prove to them that your business is doing something worthwhile, they might take a liking to it!
The kind of media contacts you aim for will depend on the size of your business. If you operate in the local community, making a contact at the local newspaper can give your business a big lift. Talking to influential bloggers can be a big help too.
6. Exhibit at Trade Shows
Getting involved with trade shows can be great for your business, but you need to make sure you get your approach right. They allow you to reach exactly the kind of people that you need to reach as they all work in or are interested in your industry. This can provide a massive boost to your sales figures.
It’s even more important for new and small businesses that are struggling to get their name out there in a busy marketplace filled with bigger names. To prepare for the trade show, you should visit www.finessegroup.com, they can help create a great looking exhibit for you. Then all you have to do is deliver on the day.
7. Sponsor and Donate to Relevant Causes
Image is important for businesses. You need to manage your public profile and keep control of how your business appears to the outside world. One great way to do something good and improve your public image at the same time is to sponsor and donate to local charities and community causes.
You should look for charities that are relevant to what you do. So, if you work in sports equipment, for example, you could support charities that help people with disabilities to take part in sports. This creates a relevant link between your business and the charity, and will be sure to improve your business's reputation.
8. Create a Killer Logo
To get your business noticed, you need to be instantly recognizable to the kinds of people who are your target customers. The only way to do this is to create a great logo and use it whenever and wherever you can. It should be stylish and simple, yet it should also be relevant to your business and tell people a bit about what your business does.
Don’t be tempted to create a logo that’s too abstract. Otherwise, people will not get what your business does or has to offer them. This is not good for business. You should at least give people an idea of what you do via your logo. You should also be consistent with the colors and fonts that you use for your advertising and marketing materials.
There’s no doubt that for a startup, trying to etch out a name in a crowded marketplace, it’s going to be a big challenge. But if you will try out some of these ideas, your startup should start to get noticed a bit more easily and not very long from now, you will have your own place.