In today’s digital world against the backdrop of a global pandemic, it is much easier to run a marketing campaign on the Internet, given a large number of promotion methods, including free ones. But at the same time, the availability of Internet marketing means extremely high competition.
In this article, we will give some tips for business owners and beat direct competitors in their niche.
Top Tips To Overcome Your Competitors In 2022
1. Identify your competitors and study them
To beat your competition you need to regularly monitor what your competitors are doing. For example, under the guise of buyers trying to buy something in order to understand the level of sellers and find out what else they offer customers.
If you, for example, have a small or medium-sized business, then at this stage it is stupid to compete with the giants. Conduct a detailed, thorough analysis of the strengths and weaknesses of your competitors, and choose them correctly.
It helps to avoid their mistakes. You will understand where your business is not yet effective enough, and what you need to pay closer attention to and boost your business.
Studying competitors will also help you keep your finger on the pulse and quickly implement chips from other companies. You should not think that it is bad to spy on others – this is not true. The main thing is to do it meaningfully and to ensure that customers are satisfied.
Analysis can be done on your own, using data from open sources. Study the number of Internet resources of a particular company, as well as open financial information and this allows you to understand the approximate turnover. Work on specific products too: monitor the presence on marketplaces, and the availability of goods, including in stock.
There are also indirect indicators, such as traffic to competitors’ sites, and of course, the position in the search for key queries that are important to us. Look at the reviews to a lesser extent, since today 50% of the reviews are written by the organizations themselves.
After studying the competitors and understanding how they work and developed, you will understand how to build your brand and PR campaign.
2. Appreciate both new and current customers
Your customers are a vital element for any business. These are the people who will always come back to you. Market research shows that 80 percent of a company’s future revenue will come from the 20 percent of customers you retain now.
By collecting important information about them, in the future, you will keep their interest in the brand. Think about how your products/services can help them in their daily lives. You may want to develop a reward system for those who have been with you from the beginning. These could be credits, discounts, bonuses, or an extensive rewards system for those who order in large quantities.
In order for a business to grow and succeed, a company must keep up with industry changes. Prepare for future consumer trends and new product developments, and check Google Trends periodically. Invest in areas of technology that can benefit you. Develop a business plan for how you see the company in the short and long term.
3. Surprise and constantly change
If you don’t change, your competitors can easily overtake you. Therefore, to overcome the competition it is so important to continuously work on expanding the range of products, providing services, or approaches to working with customers. Keeping in mind that the changes should be useful for customers, creatively come up with innovations that will set you apart from the competition.
For example, a women’s clothing boutique may redesign the business site by selling additional products: a line of children’s and men’s clothing. A fitness club can organize a summer promotion – outdoor activities.
This approach also solves the issue of uniqueness. To be among the best, define your uniqueness and talk about it. For example, two beauty salons differentiate between themselves: one will focus on haircuts, the other on coloring.
The selling proposition should include at least one aspect that will set you apart from your competitors. In any case, you must have something that will make you stand out from the rest of the companies in the market.
You can also be unique in how you sell and advertise yourself. Moreover, you are obliged to do so if the goods, services, and prices for them differ little from those of competitors.
4. Let people talk about you on the Internet
You can’t promote your business without social networks today (Facebook, Instagram, TikTok, Youtube, etc.). You should always emphasize the uniqueness and quality of your content.
This applies to texts, photos, videos, site templates, and design, as well as pages on social media networks – in a word, everything that you fill your resources on the Internet with should be of the highest quality.
There are many online and offline resources for working with visual content, for creating presentations and photo collages like Canva, and for video editing, such as desktop iMovie for Mac or iMovie for Windows. The right tools will help attract the necessary audience.
Online reviews and online recommendations are essential to staying ahead. You can ask customers to recommend you to friends, family, or colleagues. Provide a bonus, such as a gift card or a discount on your next purchase, if a customer leaves a review online and recommends you to someone else. And if you order SEO text for the site and add keywords to the review or recommendations, then this will have a positive effect on traffic.
Having a presence on social networks also helps in studying competitors: their interaction with visitors, content marketing, promotions, and campaigns.
5. Impress with the level of service
The price of a product is not always the main sales factor. By impressing your audience with a level of customer service, you will create loyal customers who will tell their friends and family about you.
To achieve this, hire employees who are well versed in the products and services of your industry. Make sure they are friendly, patient with customers, and always respond to their requests. It is important to constantly work on strengthening the corporate cohesion of the team, arrange internal events, and organize trips and comfortable working conditions.
Customer-centred companies achieve commercial success through a reliable team of employees who constantly work to ensure that the client is always satisfied. The advantage of this method is that it is ideal for businesses that are small in scale.
For example, an individual approach in the air ticket sales service will look like this: a personal manager will help each client solve problems and issues related to the flight – issuing a child ticket, transporting animals, choosing the best route, having Internet on the plane, flying in late pregnancy, etc.
Competition in business contributes to the development of the company, improving the quality of trade offers and meeting the needs of customers. By staying dynamic in finding the best marketing solutions and increasing value for your customers, you greatly increase your chances of outperforming the competition.