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LETS GET DOWN TO BUSINESS.

Question :
I’m in a super competitive market. How can I stand out?

Question submitted 18/06/20 @ 03:10pm
Industry: Business Growth
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  • Hi there,
    Great question….not sure there are many spaces that don;t feel competitive these days! Would be great if you can share more about your business, what you are already doing to stand out and maybe specific concerns about what is/isn’t working.

    I hear you! I work in the ISP industry.

    We continuously review how our business can stand out in a saturated market and the key to it is finding your unique proposition or what it is that you do differently/better. Perhaps you are focusing on a different segment of the market to your competitors and could really put the spotlight on that fact to attract more customers from that segment.

    Facilitate a complete competitor analysis (involving your sales and support teams as they will have the customer sentiment and voice to share and the coalface knowledge of why they won and lost business). Rate yourself and your competitors against a set of criteria that is relevant to your market (service, pricing, locations, reach, quality etc etc- how do you compare? Do you own one or more of the criteria? Ask your customers why they chose you over your competitors. Ask them what they think makes you stand out.

    Check google reviews for your competitors and see what they seem to get the most complaints about – can you do that better in your business? If so promote the fact that you do.

    Once you have all of this (whew!) get the message out to market. Make it part of your story on your website and all other digital channels, make sure it is part of any sales and marketing collateral and that your sales and support teams are singing the same tune.

    Consider investing in some marketing spend to convey the message as part of lead generation campaigns.

    Good luck finding the what makes you special and as Vicky has said, give us more information on the market you are in and we may have some more specific recommendations.

    Angela

    To stand out, ideally you would have a point of difference in your offering, and this point of difference would resonate with the customers. The points of difference can be a feature or benefit of the product, and hard wired as part of the product offering. Or it could be a soft feature that you can create, such as around brand or customer service. What is key is having this differentiation, and having it valued by your customers. It’s not impossible to stand out in a crowded field, just takes a lot of focus and clarity of thinking. Best wishes. Leslie

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