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Marketing

7 Ways Your Business Can Do Marketing Better Than Your Competitors

To make your business successful, you need to always stay ahead of your competitors

  • If you wish to outdo your competitors, you should know what they’re doing
  • A recent study cited in Brand Management in the Digital Age published in 2020, says that a coherent brand image across all platforms can increase revenue by up to 23%
  • While new markets can certainly lead to higher payoffs, don’t forget your existing loyal customers. This is because research shows that repeat customers are easier to sell to than new customers
  • Offering excellent customer service is a great way to boost loyalty among your customers and make yourself stand out from the competition

Every business has competition at some level. Thus, to make your business successful, you need to identify ways to stay ahead of your competitors.

Here are 7 ways in which your business can do marketing better than your competitors.

1 – Understand Your Customer’s Needs

The best way to beat your competition is to understand your customer’s needs and address them better than your competition can. Ask questions to discover what your customers need – it is low price, better service, product quality, etc. This information will allow you to offer solutions that will trigger your customers to buy from you.

2 – Conduct Competitor Research

If you wish to outdo your competitors, you should know what they’re doing. For instance, you should see how your competitors are positioning themselves, the advertising platforms they’re using, etc. Once you have detailed competitor information, you can capitalise on their strengths and weaknesses.

3 – Ensure Your Branding Strengthens Your Messaging

Branding is a key element in making customers loyal to your offering. Accurate branding leads to a clearer message, which is essential for communicating and engaging with customers. Additionally, according to a recent study cited in Brand Management in the Digital Age published in 2020, says that a coherent brand image across all platforms can increase revenue by up to 23%. Having a strong, well-established brand boosts your credibility with your customers, within your industry, and the market as a whole. As your credibility increases, your brand gains loyalty and recognition and becomes more attractive to customers than competitors.

4 – Engage with Your Customers

Engagement is often the reason behind the marketing success of some of the world’s biggest brands. There are plenty of ways in which you can communicate and engage with your customers via social media, email, and mobile marketing.

5 – Target New Markets

Expanding into new markets where your competitors aren’t present is another way to outperform the competition. For instance, if your current market are middle-aged men, would it make sense to sell the same product to elderly or young men?

6 – Look After Your Existing Customers

While new markets can certainly lead to higher payoffs, don’t forget your existing loyal customers. This is because research shows that repeat customers are easier to sell to than new customers. Some ways in which you can retain your existing customers is by offering loyalty discounts, premium memberships, exclusive products etc.

7 – Ensure Great Customer Service

Offering excellent customer service is a great way to boost loyalty among your customers and make yourself stand out from the competition. The first thing to ensure here is that your customer service team always stays respectful and courteous. They should always be responsive to customer queries, adopt a problem-solving approach, and request for feedback.

Moreover, if you have a physical store, ensure your staff greets customers with a welcoming smile.

The Bottomline

Make sure to adopt and follow the above strategies to ensure that your marketing efforts are better than your competitors.

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