Oberlo estimates that the number of small businesses in America reached 32.5 million in 2021. As a small business owner, competition is undoubtedly something you are used to. This competition is incredibly fierce, especially in a vibrant market where consumers often shop around. However, your business success depends on nullifying your competitors and increasing your market share. Therefore, it is critical to position your company as superior to the competition to make you the preferred option for consumers.
Here’s how your small business can be superior to its competitors.
Step up Your Marketing
It is no secret that marketing is crucial to getting your company’s name out there and making people interested in your products and services. Every company does some marketing, but it is essential to go the extra mile to outdo your competitors. Stepping up your market involves simply making more effort to tell others who you are, what you provide, and why they should buy from you. You can explore various inexpensive promotional ideas, from leaflet drops to running social media campaigns. Also, you can hire a marketing agency to oversee a sustained marketing campaign that will make you prominent in your niche. For instance, you can opt for plumbing web design & SEO services if you are a plumbing business to stand out in your competitive niche. These services handle all aspects of your plumbing marketing campaign to ensure that you are superior to competitors in your area.
Offer Top-Notch Customer Service
It is estimated that a whopping 96% of clients will leave your brand due to bad service. Consequently, being superior to your competitors starts with customers who already know and trust your business. Excellent customer service is in short supply, so making your business customer-centric will undoubtedly build loyalty among your client base and make you stand out from competitors. Therefore, never rush the process of recruiting customer service team members since it is critical to find the right people for the job instead of merely filling open roles.
Then, train your staff to greet clients with pleasant smiles and show gratitude to everyone they interact with. Your staff must also be courteous and highly responsive to client queries. Additionally, train them to adopt a problem-solving approach to customer interactions and always request feedback. Top-notch customer service is essential for customer satisfaction and retention, additional sales, and attracting new clients since satisfied clients quickly recommend you to others via word of mouth.
Set Competitive Pricing
Many experts agree that one of the best ways to be superior to competitors is to offer more affordable pricing. For this, you will need to discover how much your competitors price their goods and services to determine your ideal price point. You can find out which rival businesses offer the best value and determine whether to price your offerings higher because you are providing something more valuable. On the other hand, you can use a competition-based pricing strategy if outshining your competition is your most important primary concern. This strategy involves focusing on the current market rate for your offerings instead of considering demand and product costs. Then, set your prices to fall within the range your competitors offer to make you a more appealing option to consumers. However, it is best to note that lowering your prices isn’t always the best pricing strategy, so this tactic should only be used for the right target audience.
Address Customer Pain Points
You can easily beat your competitors by addressing the needs of your shared audience better than they can, so keep this in mind. For this, ask specific open-ended questions to discover clients’ pain points and what they want from your products or services. You can ask them to share any complaints and reveal their ideal solutions to these problems. With this information, you can paint a clear picture of the specific things to do to make clients more satisfied with your offerings and stand out from your competitors.
Narrow Your Niche Through Storytelling
As a business owner, you have undoubtedly fantasized about having zero competitors to worry about. You can take a step closer to achieving this goal by building a narrower niche through storytelling. This reality is because a crowded market offers little room for expansion. Therefore, you need to employ storytelling to convey your unique selling proposition, making less room for competitors. Storytelling is particularly effective because it helps you market your products and service as a part of your prospects’ lives. This way, you appeal to a specific group of clients who consider your company a right fit instead of everyone.