“I don’t need my business to stand out, and I’m not concerned about my competition.”
Said no one.
Whether a new or seasoned business owner, you’re undoubtedly challenged to make your mark in a crowded market. There seem to be bazillions of the same products and services in today’s global marketplace, but that doesn’t mean your business can’t be a shiny diamond in the rough.
Saturated markets can still be profitable, but your strategy should be agile to gain an edge. Here are 5 suggestions that can help:
- Humanize Your Company
Customers are typically humans, even if the product is for non-humans. When you humanize your brand, your audience knows they’re dealing with people rather than entities. Real people like to be spoken to in personable ways – dry business jargon won’t differentiate you or win the hearts of your customers.
Consider replacing stock photos with real photos on your website. Statistics show that online visitors spend more time on websites with pictures of the people behind the business, and those websites tend to have higher conversion rates. Photos of you and your team (if there’s more than you) at events, relating to customers, or everyday work life give your audience a sense of who you are. These simple ideas let your audience glimpse into who you are, not just what you do—relationships are about people, not transactions.
- Your Brand is More Than Colors, Images, and Words
Creating a memorable brand identity that reflects who you are, why you exist for the benefit of others, and your business’s core values will help differentiate you. Your logo, color scheme, and slogan are part of the bigger picture, but they’re not the entirety of your brand. Your identity embodies your business’s personality, values, and promise to your customers. Creating a strong brand identity takes time, but it’s a powerful tool that can set you apart from your competition.
- Be of Better Value
Think of brands that you like to support and ask yourself why. Your awareness of what you like can inspire ways to do the same for your customers. You need a reliable product or service, but the value comes down to who you can be for your customers. This thinking transcends where others typically focus, e.g., saving your customers money, effort, and time. How could you help your customers be successful for their customers? Being of more value could also mean going the extra mile to solve your customer’s problems or creating an outstanding customer service experience. Be a partner for your customer’s success, and you will not be seen as a vendor but as integral to their vision and success.
- Passion and Purpose on Display
Entrepreneurs typically start businesses because they’re passionate about something, not necessarily because they have the most experience. Passion has the potential to fade, but Purpose will help you focus on why you exist and how you can benefit others. When your customer is at the tip of the spear, you will be more capable of thinking about what will truly benefit their success. Your customers will want to engage with your business because they know you have their success as your highest priority.
- Keep Going
Your business will be the one to remember as long as it outlasts your competitors. Entrepreneur exhaustion is real, but play the long game—especially when your competition doesn’t. Let daily reminders of your “why” energize you to be the last one standing, and in doing so, you’ll create trust with your customers.
Gaining a competitive advantage in a crowded market doesn’t have to feel like shoveling snow in a blizzard with a spoon. Many businesses get caught up in what they’re doing instead of remembering why they’re doing it. You’ll stand out above the rest by acting on your company’s purpose and being your customer’s partner in their success.
Photo Credits: Amina-Filkins, Pexels