More to marketing. Welcome to more 2 marketing, a podcast on marketing, product and everything business. I’m your host, Susan, and today we’re going to be going through the top 20 strategies to help you stay competitive in the market. This is literally going to be the top 20 list that you may want to tick down a couple of these that may help you build your business by staying competitive, of course. Now everything’s always changing, so it’s always good to reevaluate what your strategies are and how you’re going about your business. I recommend doing this twice a year, but that also depends on your type of business and how often change happens within your market. So do keep those factors in mind. But I’ll go through now the top 20. One, define your target market and tailor product and services accordingly. Now your target audience may actually change or evolve overtime when your audience starts to grow older, so ensure that you’re either catering for the new people going into the age group, or the ones they continue to use it as it grows older or both. It’s something that you really need to keep top of mind. To differentiate your business by highlighting its unique selling propositions. Why are you different? How are you different? Ensure your audience understands this and you do too. Sorry, provide excellent customer service to enhance customer loyalty. So many times you’ll see people complaining about the customer service but not the product. Should be an easy thing to try to resolve internally by helping with assistance of tools, training and other guides to get these people to understand how to help. And it may be that you might have to put a few more people in that call centre for a short term until you get over the pain and everyone’s more understanding and and. Can work with the volume that’s coming through until you learn how to get customers to be more self serving. With Michael for build a strong team to drive innovation and efficiency, it’s important to have the right people with the right thought process who are looking ahead, particularly if you are in a service of business that needs to continually evolve. Five stay organised and prioritise tasks to maximise maximise profit, proactivity. Six offer personalised experiences for customers to enhance satisfaction. 7 Conduct thorough competitive analysis to identify strengths and weaknesses. Now this comes under slot, but as we’ve talked about in the previous podcast slot is just a moment in time. You have to continually be watching for trends, looking at the market and watching what competitors do and don’t do and what your audience is doing and what they’re saying. Eight know your customer needs and preferences to tell our office efficiently now. Customers needs and preferences. You can gather some of that with data that you gather from them. So that’s the surveys. What’s your preference? Do you want to know about? This product these. Colours, blah blah blah blah. However you can also follow them. Cookies is the old way. There are new ways coming out where you’ll know more about their preferences out there. Another way that I love to hear about what my customers want is going down to ground roots level at call centres and finding out the detail of why people have called. And what they’ve asked for, if they’ve asked for different things, because I think there’s some gold Nuggets. That come out of that too. 9 centralised information to facilitate quick decision making. How we reporting somewhere that everyone can access no matter what the level ensure that they know how to use that system as well. If it’s power, BI, Cognos, whatever it is empower people to be able to help with. Better decision making. 10 highlight product performance aspects that set you apart from your competitors. This one here is all about how are you benchmarking? What are you looking at for your performance to make it stand out? Is it?
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Volumes, is it certain locations? Is it feedback, whatever it is? Make sure that you’ve got that highlighted so that you know how you’re doing compared to competitors where you can. 11 offer high quality products at competitive prices to attract customers. Now this is where it’s possible. It’s possible, but also ensure you know your value as well and always price things at the value. 12 Know your customers intimately to understand their preferences and behaviours. 13. Where you can understand your competitors strategies and adjust yours accordingly. 14 emphasise your unique value proposition in marketing and messages. 15 collaborate with complementary businesses to expand your reach and offerings. This could be as simple as. You are a florist and you know that there’s a chocolate shop around the corner. It could be a simple complementary business exchange there. These don’t have to be difficult. I highly recommend you going back and listening to my podcast with threes all about her book swap and how you get more value and it doesn’t have to cost you an arm and a leg. 16 continuously innovate to introduce new features or services ahead of your competitors. 17 invest in technology to streamline operations and enhance customer experiences. This can be really simple in some places where you have processes put in that take away timely exercises. Lean 6 Sigma is a great way to do this and a great lens to look at. I also recommend putting in processes. That means everything is easier and potentially self service in a lot of ways for customers, because let’s face it, they won’t answer straight away. And for those that do have the patience to put in a couple of queries, it’ll be faster for them than it will be to wait for customer service Rep. 18 builds strong brand loyalty through consistent branding and messaging. 19 monitor marketing trends and adapt quickly to changes to stay ahead of the curve. And 20 develop a culture of continuous learning and improvement within your organisation that’s facing the market, is competitive and always changing. So you need to be able to have that culture within your business to ensure that it’s willing to try something new. Take some risks. But also keeping the business safe. Thank you for listening to this podcast from Water marketing on the top 20 strategies to help you stay competitive in the market, don’t forget to like and follow to hear more podcasts in the future and do share this with anyone that needs to have a bit of a competitive edge in the market and gives them a bit of an idea how they can do it and share with their team. More to marketing.
