How To Differentiate Your Business
Whether your business is small or big, you’re bound to face the problem of struggling against more successful competitors. The only way you can hope to succeed is if you can differentiate your business.
Differentiating allows you to stand out from the crowd, while simultaneously letting you deliver the best value to your customers. This way, you get the best of both worlds: business success and profit.
So how can you differentiate yourself from everyone else? It might sound like monumental work – but the magic is in the small efforts! Here are smart ways you can set yourself apart from everyone else:
Study The Competition
To challenge your competition, you need to know them first. For that, first study the competitors you’ll be facing – what, where and how do they provide their product or service to the people? What is it that their performance lacks? Looking for gaps in the competitive landscape will help you define ways you could attract customers towards your side.
Narrow Your Target Market
Every business exists because they want to cater to a certain audience. While it’s sensible to have a larger pool of people, it’s better to narrow it down. This allows you to target a more niche community, so that you can properly deal with people’s pain points, and easily make your customers’ experience more memorable and valuable.
Innovate The Game
For small businesses, it becomes hard to counter the heavy influence of big corporate giants, especially if your product or service is similar to theirs. In order to fight back, don’t focus on what you’re doing – focus on how you’re doing it!
Think of creative ways you can innovate your own game – maybe you can change the way you sell the product, or improve the way you approach interested customers. Personalizing and customizing the client’s journey is the best way to start, since it shows more commitment and depth, and allows you to get the upper hand in differentiating yourself.
Give, Give, Give
The only way you can stand out from the crowd in the eyes of the customer is if you give them an offer they can’t refuse.
Introduce valuable discounts and offers on regular intervals, so that customers always have something to look forward to. Make sure they’re enticing and unavoidable – so not only should you be creative with your deals, but should also work on marketing for them efficiently.
Nowadays, SMS and email marketing are becoming popular, simply because of how they add a touch of personalization to the whole customer experience – and if you’re looking for smart ways to differentiate yourself, this is a great route to start. Instead of investing in separate systems, why not get the perfect package?
Oscar POS is one point of sale system that not only allows you to send custom SMSs and emails to your customers, but also has other management systems capable of revamping your business. Some of these include inventory management, CRM, multi-location management, accounting, and more. With such a modern set-up, success is inevitable.
In the end, a difference has to be meaningful. If your business has a different way to provide value, then differentiation will always work in your favor.