In a market with so much competition, it is not easy to make your product or service stand out from the crowd.
The statistics for business success rates show that only 50% of businesses make it past the first five years. And if you look at it long term, then only one-third of businesses make it past the 10 years mark.
One of the major challenges small businesses face is that they have to compete with big companies that have already established their brand, and have a large share of the market.
In this kind of situation, a business has to make sure its brand stand out. This will give customers a reason to patronize your brand.
Here are the top 3 Tactics to make your brand stand out from the competitors.
Each of these has worked for several businesses.
Deliver Great Customer Service
You have to treat your customers like kings, delivering excellent customer service that can’t be found anywhere else in your market.
Imagine waiting for a long time to see a business representative or receiving a poor response. I am sure anyone will have a poor opinion about such a business and will be reluctant to recommend them to others.
Even worst, they might go ahead to narrate to friends and family about the horrible customer support they received from such a business.
If a customer has even one negative experience from a brand that has not yet been resolved, they may leave a bad review about such a brand. And we all know how negative feedback spread like wildfire. Which can negatively affect the brand in the long run.
The good news is that the opposite is also true.
Take Namecheap for example, I have come across several social media posts both on Facebook and Twitter where someone wants to know if they are a good domain registrar. The comments from users are always positive, and their reason is simple. Namecheap provides excellent customer support for their customers and as a result of this, they get referrals and recommendations quite often.
Adapting and Trying out the latest trends and Development.
Television, cell phones, and Facebook were once new technology and those businesses who saw their potential early enough and were able to try them out succeeded in the long run.
As a business, you should never assume an emerging technology in your industry to be irrelevant.
The internet itself was only created to allow a group of scientists to send packets of data between themselves. No one would have thought it would become a threat to postal services, or have the impacts it has on our lives today.
There are lots of other technology trends that weren’t so successful. But the idea is to be willing to experiment and adapt your businesses with emerging technology.
Knowing what to prioritize or responds to is the main challenge here. As with lots of other things in life, having an open mind and trying out new things is the key.
Since nobody knows what’s coming next, as a business, it is your responsibility to be aware of new development. you might not have the luxury of consulting a tech team to give you an update on the latest development in your industry, especially as a small business. But the good news is that you don’t really need to hire a team for that. All you have to do is to keep up to date through publications in your industry.so you will be aware of what’s relevant to your business. which can make your business better in the long run.
Respond To Change
Change is often inevitable in business, as a business owner, you must be prepared to adapt to changes in your niche. By being flexible.
It is okay if one customer does not like a product or service you render. But if a lot of persons are complaining about a particular product or are asking for a feature, it is important that you listen to them.