5 Strategic Ways to Beat the Competition

Here are 5 strategic steps which will enable your brand to stand out from the crowd and beat the competition!

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Ramzi Chamat / 8 Ways Media
2017-01-31 14:04:00

Business is a constant game of cat and mouse and only the best players can win. To beat the competition requires a collective effort from every member of your team – not just the marketing department or top management.

This is a responsibility that falls into the hands of everyone, so it’s essential that you enlist the support of your entire organisation once you’ve agreed on which strategies to adopt to beat the competition!

Every business wants to achieve great success, so without further ado here are 5 strategic steps which will enable your brand to stand out from the crowd and beat the competition!

1. Define your brand

As we touched upon here in ‘How to Tell a Story in a World Where Everything’s Already Been Said,’ no two businesses are alike, which makes for some fantastic story telling. How does your business stand out from the crowd? What differentiates it from the competition when compared to other businesses in your industry? Is there something unique that you’d like to be known for in the marketplace?

To remain competitive you need to remain distinctive, and you can only achieve this if there is something about your business that will make customers think twice about going to a new competitor.

2. Choose your competitive advantage

If you haven’t yet discovered your competitive advantage, what are you waiting for?

There are three key areas of focus when it comes to choosing your competitive advantage:

  • Quality: You can choose to beat the competition by offering a service that far exceeds your competitors’ 
  • Price: You can choose to beat the competition by offering the most competitive prices 
  • Service: You can choose to beat the competition by offering an outstanding and unforgettable customer service

Though it’s difficult to measure up well on all three of the above-mentioned areas, we certainly recommend focusing more carefully on two of them, and then complementing them with the third.

3. Create a customer database

Did you know that it costs 20x more money to get a new customer on board than it does to keep an old one? Customers are extremely expensive to attract which is why the smartest business owner focuses on a customer’s Lifetime Profitability rather than a single purchase. This means that they place greater emphasis on building a lifelong relationship with their current clientele rather than focusing on making sales with new customers. There is far more sense in having a long-term, repeat customer as opposed to a one-off buyer.

4. Communicate ‘WITH’ and ‘TO’ your customers

  • Communicating WITH your customers is what is known as Market Research
  • Communicating TO your customers is what is known as Advertising

A lot of small businesses fail to acknowledge this vital marketing step, however constantly communicating with and to your customers is actually the key behind the marketing success of some of the world’s biggest brands. Modern technology has made this easy and there are countless ways to communicate with your customers on a regular basis including via:

  • Email marketing
  • Mobile marketing (SMS messaging)
  • Social media marketing

The impact of these regular messages should never be underestimated.

5. Excite your customers

Finally, it’s essential to remain cutting-edge and innovate if you want people to return to your business time and time again. Innovation gives the marketplace something exciting to talk about and there is nothing that drives a business faster than word of mouth marketing. Get your customers excited enough to talk about your company by offering promotions and special deals, and this will without doubt give you an edge over the competition! 

How can we help? 

Here at 8 Ways Media we are pioneers in effective digital marketing designed to skyrocket your business and ensure it gets noticed by the right crowd. If your business is seeking a push in the right direction, drop us a line, give us a call or pay us a visit and we can show you how we can work together!

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