Whether you are launching a new business or looking for strategic ways to take your enterprise to the next level, standing out from your competition is a vital challenge to being successful. According to the Small Business Administration, a third of all new businesses do not make it past the first two years,
Implementing creativity ideas to differentiate your business from others is vital to grabbing the attention of consumers in today’s saturated business environment and an aspect most businesses do not emphasize enough.
The end goal is to inspire customers so they choose to purchase your goods and services instead of your competition. Here are three ways to put yourself in front of your competitors.
1. Find A Solution to Customer Pain Points
Companies that are smart enough to identify customer pain points or simply put, customer problems, and then figure out a way to market a solution, position themselves well in the marketplace. Take, for example, people’s desire for more storage for personal photos and videos.
What if it was possible to take all of the thousands of pictures you have and continue to take on your mobile device and/or posted to social media and download them to one in-home source? Well, meet ibi, a product that does just that, filling a need for millions. Ibi is marketed as your own personal cloud. This small gadget collects your photos and videos on your mobile device, social media, or even the cloud, and then backs them up at home.
Serving as a personal smart photo manager ibi is capable of storing 250,000+ photos or 100+ hours HD videos, through use with an ibi mobile app and lets its users set up their very own inner circle and privately share with family and friends. The makers of ibi have found a solution to a customer pain point and by all accounts, they appear to be doing it well based on the ibi reviews, giving them a point of difference from the competition.
2. Focus on a Narrow Niche
A great way to stand out is to narrowly define your marketplace position and whom you serve. Companies that try to be all things to all customers are truly missing the boat and could be better served by focusing on a specific niche. In marketing, a niche refers to a service or a product that occupies a special area of demand.
Bright Pattern is a great example of a company that has built its success in this manner as a provider of software to call centers. When was the last time you or family members called customer service at just about any company and encountered an automated service? It happens every day. Targeting this niche area with new technology such as their ServiceNow omnichannel integration technology has attracted mega-corporations like Amazon and Google as customers.
By focusing on technology to offer large companies with their customer service phone needs like advanced incoming and omnichannel routing functions, solutions for contact center agents and even artificial intelligence bot solutions, Bright Pattern offers much more to existing and prospective clients.
3. Provide Outstanding Service
Any business owner knows that customer retention is far less expensive than customer acquisition. “It costs approximately five times more to attract a new customer to your business than it costs to retain an existing customer,” according to an article in Entrepreneur.com.
Add to that, Warren Buffett’s statement that “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” What this is all too obviously pointing to is the utter importance of customer service.
It’s no accident that companies work so hard to invest in customer service with well-trained employees, customer-friendly policies and efficient call center technology and much more to rise above the competition.