It could be argued that competition is necessary in business, especially from the customer perspective. Competition helps to avoid monopolies and ensure that market forces can keep prices reasonable, after all.
However, as a business owner, competition – necessary as you accept it may be – can feel less like a necessity, and more like a constant thorn in your side. As the world becomes ever more entrepreneurial, standing out from the crowd is more difficult than it has ever been before. There are, however, a few things you can do to differentiate your company and ensure that you can capture the attention of new customers effectively. Here’s what you need to know.
- Go against the grain on social media
There are a few unwritten “rules” about how companies should behave in the modern world, especially on social media. If the weather is warm, then a company should comment and be happy about it. If it’s cold, that’s also worthy of comment. Certain things are observed on different days of the week; there’s always Throwbacks on Thursdays, for example, and companies must always have that #FridayFeeling. There’s no harm to these things, but they can be a little repetitive from the customer’s point of view. Rather than following the “rules” and doing what every company does, try and create your own buzz; your own hashtags, your own regular types of posts, your own holidays, your own sales season.
- Own your mistakes
Many businesses will try to cover for mistakes they have made, or distract from the issue entirely. While it is understandable that businesses do this, doing so actually can have adverse effects. In the “best” (though still concerning) case, customer trust may be lost. In the “worst” case scenario, the company develops a reputation for failing to be accountable, to the point where they lose both once-loyal customers and struggle to attract new ones too. In contrast, choosing to own your mistakes and trying to right wrongs can really make your company stand out in a very positive way; distinguishing you from the fairly standard “ignore it or distract” route that other business owners may choose.
- Use publicity specialists who understand your niche
Good publicity is crucial for all businesses, from retail stores to legal businesses, playing a crucial role in helping to build your business’ all-important visibility. However, to get the most from these services, always work on your campaigns with a specialist PR firm that is familiar with your industry; if you run a legal firm, then choose a company that is familiar with lawyer PR work; if you’re a retail store, choose a publicity company who have established a reputation in the retail industry, and so on. Specialist publicity firms know their chosen industry inside and out, including the methods that your competitors are using – so they know what will produce results, and how to help your business distinguish itself from the “standard” industry PR techniques.
With all of the above in place, your business will should be able to stand head and shoulders above your competition.
