No matter the industry involved, we all have competitors when it comes to doing business. Customers depend on the ones who stand out the most, whether it’s for a new product or the services you provide. In order to make yourself a more valuable asset to consumers in the marketplace there are ways you can differentiate yourself from your competition and gain an edge in your profitability. Below are some ways you can do just that.
- Understand Your Customer’s Industry
The biggest thing you can do to help yourself stand out from your competition is to be intimately familiar with the industry you are targeting in your business. To do this you need to be an active participant in the trends that their industry experiences. If you want to be seen as a valuable extension of their personal experience, don’t shy away from industry led conferences or trade shows. Become a part of the event.
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- Don’t Over Sell Yourself
You don’t want to be pushy when it comes to gaining your customer’s business. Be respectful of their time and don’t treat them like a sale. They are human, and deserve your empathy – not just your sales call. If you call them too often, or expound on the virtues of your company too much, they can easily be turned off and seek out the services of your competitor. Make decisions that show you care about them personally – not just their money.
- Provide Them with Insight
Never be afraid to offer your customers insight into their problems. Educate them on the solutions your company can provide them, as well as things that they can do on their own. Doing so builds creditability between you and your customer, and the relationship formed from that can turn a one-time customer into repeat business.
- Diversify Your Services
We’re not talking about offering services that have no relation to your niche. We are talking about including services into your business that are directly related to it. Customers may only use your product or service as part of a larger process when it comes to running their business or household. Provide them with extra-value by becoming an expert in that process.
- Provide Excellent Customer Service
Whether you like it or not, repeat business is dependent on a customer’s final transaction and interaction. Your reputation depends on this moment in order to help you stand out from the competition that’s in your industry. If a customer has a bad experience, go out of your way to resolve the issue to restore faith in your company.
The biggest thing you must always remember in business is how you treat your customer. Your relationship with them builds your reputation.