On the surface, it seems beneficial to be in a position where you have no competitors. But, not having competition can cause a business to become lax and stuck in its ways. Having competition is healthy, and in the end, it often benefits businesses to be in a competitive industry.
Competition keeps businesses on their toes. Setting yourself apart from competitors directly impacts product quality, marketing, and communication. Simply put, competition sets and continuously raises the bar for businesses to do and be better.
In order to grow your brand and attract more customers, you have to distinguish yourself from other businesses in your industry. The good news is that there are plenty of effective ways to make your brand stand out and to rise above competitors.
Here are some proactive measures you can take to become better than the next business.
Create a Value Proposition
A value proposition is a promise that you make to consumers to deliver a product that offers certain benefits and value. It’s the why behind a consumer choosing to business with your brand. The statement should also summarize why a consumer should purchase from your business as opposed to a competing brand. A value proposition should detail:
- Who your target audience is
- The benefits that your product offers
- The problems your product solves
- Why you’re the best provider of said product
With a solid value proposition, you can inform users about the benefit of your product while also encouraging them to take the next step. Having a value proposition will help to set you apart from competitors because it explicitly tells consumers what you have to offer, and why you’re the best option.
A value proposition also explains to consumers how they will benefit. When you can show consumers how your product will make their lives easier or better, they’re much more likely to take the leap and make a purchase.
Unsure how to write a value proposition? Check out these awesome value proposition examples to get you on the right path.
Focus on Customer Experience
Customer experience is one of the most important factors for consumers when choosing a business to purchase from. According to one study, by 2020, customer experience will overtake products and prices as a key brand differentiator.
To create a great customer experience, you need to get to know your customers. Figure out what they like and what they need. Determine how they like to shop and any challenges that they face during the customer journey.
Using this information you can deliver a personalized experience that is valued by your customers.
Creating a positive and memorable customer experience for customers not only benefits them, but it also benefits your brand. When a customer has a great experience with a business, they’re much more likely to share their experience and encourage others to make a purchase as well.
The bottom line is that when customers like you, they will more than likely continue to like you, especially if you show that you value providing a top-notch experience.
Make Communication a Priority
Communication is an important part of building your brand. When you routinely communicate with consumers, it’s much easier for them to see your brand in a more personal light versus you just being a business looking to make sales.
Proper communication allows you to develop the relationships that you need in order to build an ever-growing community of loyal buyers and brand ambassadors that will stay true to your company.
It’s important to cover all of your communication bases. This includes phone calls, emails, and direct messages sent on social media. Another effective way to communicate with consumers is to get involved. Take part in trending conversations. Post blogs and respond to comments. Share posts on social media platforms.
The stronger the relationships you build with consumers, the more loyal customers will be to your brand.
Offer Surprises
Surprises are an effective and fun way to show that your business is different. Surprise your customers with a new product release, include a money-saving coupon with each order, hold contests, or choose to give a free product to X number of customers.
While these actions may seem relatively small and simple, they can have a huge impact on your business’ reputation. Doing something unexpected is memorable, and when you show customers that your brand is thoughtful and that you value them, they’re much more likely to stick with you in the long-run.
Conclusion
Standing out from the crowd is about much more than being different. While all businesses need to have a unique side to them, setting your brand apart from competitors is what will pave your path to success. By differentiating yourself from the competition in your industry, it’s much easier to build brand loyalty, meet customer needs, and build a solid reputation for your business.
