Knowing what makes your business special shows you what you should focus on, and what you should forget about. If your customers don’t care about your warranties, for example, you don’t need to put any energy into selling them. If your customers love one particular product, you can focus on a marketing campaign to push it even further![2] X Research source You should show up consistently. [3] X Expert Source Patricia ChukermanImage Consultant & Marketing Specialist Expert Interview. 8 February 2022. Do things that can make people trust you. [4] X Expert Source Patricia ChukermanImage Consultant & Marketing Specialist Expert Interview. 8 February 2022. Try to establish a relationship with your customers. [5] X Expert Source Patricia ChukermanImage Consultant & Marketing Specialist Expert Interview. 8 February 2022.
When it comes to advertising, you may want to borrow elements of your competitor’s style, but you typically don’t want your materials to look so similar that your customers mix you up. Look at their online reviews and then compare them to your online reviews. If you notice that your competitor’s reviews all mention great service and there’s nothing in your reviews about kind employees, maybe it’s time to re-train your employees! Sometimes, you won’t have any control over what makes your competition attractive to others. If they have a storefront in a great downtown location and you don’t, you’ll just need to edge them out elsewhere.
When it comes to advertising, you may want to borrow elements of your competitor’s style, but you typically don’t want your materials to look so similar that your customers mix you up. Look at their online reviews and then compare them to your online reviews. If you notice that your competitor’s reviews all mention great service and there’s nothing in your reviews about kind employees, maybe it’s time to re-train your employees! Sometimes, you won’t have any control over what makes your competition attractive to others. If they have a storefront in a great downtown location and you don’t, you’ll just need to edge them out elsewhere.
If you offer basically the same products or services as your competitors, figure out if there’s something you could add to gain a competitive edge. Even if it’s just opening the store earlier or giving a free drink with every purchase worth $20 or more, you’ll come out ahead in the long run if you have more to offer.
If you’re competing with bigger businesses, this is where you’ll get the upper hand. Very few customers feel personally appreciated when they go to a big box store, so if you can make them feel genuinely valued and appreciated, they’ll come to you instead! Customer loyalty sales and specials are another great way to build your presence in a community.
It may cost less to hire brand new employees, but it’s always best to pay for quality employees. If you can, pay your workers a competitive, reasonable wage. If you don’t, they may end up working for your competition! If you can retain staff and your competition can’t, you’re going to eke out a competitive advantage over time.
If you run a restaurant, post photos of your delicious food. If you run a clothing store, take fun flicks of new outfits as they arrive. Take a look at how your competition uses social media if you’re brand new to it. The more engagement you can cultivate online, the better. Always reply to people who comment on your posts!
If your competitors have a cool “young and hip” style going, you may want to aim for a more mature look and vice versa. A business consultant should run a few thousand dollars, but you can definitely find some smaller consultants out there for $100-400. [15] X Research source You may not need one though if you’re really confident in your branding and messaging! A graphic designer shouldn’t run you more than a few hundred bucks. You can always find a freelancer on sites like Fiverr or Upwork if you really want a deal!
You can always use a template tool or website builder, like Squarespace, to craft a brand-new website yourself. If you’re visually adept and you aren’t super particular when it comes to customizable features.
Guerilla marketing is great if you have a really small business. Go around the neighborhood and put posters up in local coffee shops to get the word out! Newspaper and radio ads are great if you want to target an older demographic in your area. Billboards are a great way to make a statement if you want to attract drivers in the area. Online ads are ideal if you run an online shop. You can even advertise for free just by posting on social media! A marketing firm should charge $2,000-4,000 depending on how big you want to go. [18] X Research source However, you can always hire an independent marketing consultant or simply do it yourself to save some cash. Keep in mind that innovative products and services require more marketing support, as there is a higher need for education and awareness compared to common goods and services. [19] X Expert Source Christine Michel CarterGlobal Marketing Expert Expert Interview. 30 September 2020.
For example, if you run an automotive garage and you specialize in bodywork, reach out to your competition to see if they’ll refer people to you for restorations so long as you refer folks to them for minor detailing. If you run a high-end clothing boutique, reach out to the secondhand store across the street to see if you can work together to sponsor a fashion show. Working with the competition allows you to get some insight into their technology and skills. This can be exceptionally helpful if you aren’t sure why they’re so successful. [21] X Trustworthy Source Harvard Business Review Online and print journal covering topics related to business management practices Go to source
