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Five Ways to Stay Ahead of the Competition

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Since there’s no set manual that gets handed to you when you start your business, how are you meant to make sure you are staying ahead of the competition?

Anyone who has started their own business knows that sometimes it can feel like you’re taking one step forward, two steps back.

So with this being the case, how are you meant to make sure you are performing at a peak level in business? Here are five ways to stay ahead of the competition.

Have a truly deep understanding of who your customers are.

Depending on your style of business, your customer base could be completely different from the next business owner’s.

It’s important to take the time to really understand every little thing about your customers. The more you understand about them, the easier it is to provide them with exactly what they are looking for. Customers that can see how much attention and care a business is putting in to make sure they are fully serviced, are more likely to become a long term and loyal customer.

Know your competition and what they offer.

As mentioned above, the unique elements of your business are what attracts customers.
These make you stand out from your competitors. Conversely, your competitors’ unique selling points could be attracting some of your potential customers. Develop a deeper understanding of your competitors and what they are offering that could
compete with your unique selling points. From here you can develop strategies to showcase why your business is number one.

Step up your marketing.

So, now you’ve developed strategies to showcase why consumers should choose your
business, it is time to place your best foot forward in the digital sphere. This means ensuring that your brand message is consistent across all platforms and reflects your business as it currently is.

Essential to your business image is the creatives
you use. Up-to-date images and videos make a huge
difference online. The online environment is extremely fast-paced,
and users want information as quickly and succinctly as possible. Your images and videos are the first point of contact a viewer has with your business, meaning it is the first essential selling point.

So ultimately, it is quite important to have eye-catching creatives. Once you are happy with your messaging and creatives, it’s time to think about who you are targeting. Having success with your current target audience is one thing, but consider branching out to new
target audiences to see if you can find more potential customers.

In this way, you have the opportunity to build and make your customer base even stronger.

Plan your promotions ahead of time.

Everyone loves a promotion, but don’t save them for when your business is having a bad
month financially. There’s a fine line between treating your customers to something special, versus trying to get rid of excess stock, and consumers are savvy enough to see the difference.
Consumers love to feel surprised and delighted, and the best way to do this is to plan your
promotions out at least 6 months in advance, so you can ensure that the timing and the communications surrounding the promotions are perfect.

The more planned out your promotions seem, the more credible and professional your business will appear to consumers. This means your consumers will place greater
trust in your business, and help instil a greater sense of loyalty.

Last but not least, be the best employer.

Every strong business is built upon strong foundations. What foundation is stronger than the many faces of your company? An employee’s happiness and confidence in a business radiates from within. If they are happy, this will be noticed by customers. To make sure your business stands out from the crowd, treat your employees with the respect they deserve, and you will surely see the difference it makes. These are what we are at News Xtend consider to be the five key pillars of business.

When one isn’t doing so well, the business may still keep standing, but it will place more pressure on the other areas of the structure. However, when all pillars are built upon great foundations, your business will be stronger and greater than ever. Ready to go leaps and bounds ahead of your competitors?

Looking for more leading advice from the digital marketing experts at News Xtend? Find out more at www.newsxtend.com.au or call 1300 935 848

Meet us at SBC Summit & Expo 2020 | 21-23 October, 2020 | Melbourne

Visit here for more info: sbcsummitexpo.com.au

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