With new and ‘better’ brands coming up every other day, it is a challenge to remain competitive in a market that is seemingly saturated. Be it in pricing or offering a variety of products and services, remaining competitive is a necessity that requires a lot of planning and thought. So here’s a few pointers on what you can consider to remain competitive.
Know your Market
A no-brainer really, it is important for you to know the market you’re in or trying to break into even. You must know what the needs are and then attempt to meet those needs. In order to remain competitive, it is necessary to know what are the gaps as well as what is being done too much to prevent obsolescence.
Research your competitors
As more new and young brands join in, it is necessary to know what their plan is. Knowing their strengths and weaknesses can help you learn what your own strengths and weaknesses are too! By understanding your competition, you know where to strap up and improve your own work.
Look after your tribe
Always remember your existing clients and customers. In pursuit of new clients, do not ignore the og people who trusted you. Offer continuous and quality after-care support as well as possible opportunities for them to continue working with you. Offer loyalty schemes or freebies and seasonal extras that they can look forward to and also improve your relationship with them
Remain true to your core
It’s all good to know your competition and try to match up, but remember to also retain your identity. It does not do to lose your core identity, the principles, the specific message or style that first differentiated you. Retain your voice even as you try to add new products and services. Make it yours while differentiating.
Branch out
A continuation from the above, while you stay in your focussed group and try to master it, make sure you are not becoming obsolete. Branch out to related items that can make your brand more attractive and all-rounded.
Marketing is essential
Amp up that marketing! With so many avenues available, make use of as many as you can. This goes for all media outlets, especially the likes of social media that are accessible and seen by a larger audience. That said, make sure to have your marketing also addressed to your target audience even if that means you have to continue with traditional media formats.
Be accessible
Having all your company info easily available is a great way to remain in the competition for a slice of that consumer pie. Clients like an easy path into knowing what you are offering and also how to contact you for help. Make your website a one-stop-spot for old, new and possible clients to get all the info you need
Be good to your team
This goes without saying that a well taken care of team will work better, will be more prone to creativity and more groundbreaking ideas! Take care of your employees, your colleagues, and this includes even those who work in the same building and the seemingly background individuals such as cleaners and delivery crew etc. involve them in company celebrations and welfare, as well as look after them. This way you breed loyalty and an environment of positive work attitude ensuring continued growth.
Keep in touch and update
A big issue that companies face is that their information is not updated on their social profiles and websites. Ensure that there is always someone to provide updates on what the company is doing as well as any updates on the company’s motto, logo, etc. Photos are a great way to give audiences an insight into the company.
