Competition torments every businessman but it also drives us to be a better version of ourselves. Beating your competition might be your prime focus, but can’t be achieved directly. Improving your business health and services works towards beating your competition. Here is how you can take some steps towards improving your business that eventually make you stand out from your competition.
Ways you can stand out from the competition-
Customer retention and acquisition both are important
This one is the most expected way out of all. Retention and acquisition are 2 sides of the same coin. You need to keep your customers engaged with your business via packages, discounts and loyalty points. Stay connected to your customers through a feedback mechanism to know how they feel about the service that is being delivered to them. A satisfied customer brings at least 5 more customers to you. Loyalty is something that you can not demand but have to win over. And it’s an ever going task. Make your service inclined towards your customers and not towards you. If you do not cater to your customer needs, most probably your competition reaps the benefit of your ignorance. The convenience should be that of the customers and not for you. A valued customers give you loyalty and high repurchase value, which is undeniably the sweetest fruit of your hard work.
Improving business processes
Streamlining your business is equivalent to streamlining your revenues. You can easily predict how much and where to invest to get desired results. Businesses that are not improvised to make the processes work automatically usually suffer at one end of the other. A perfectly synchronized business is independent of internal factors and works without intervention. So with or without your presence, the business should operate equally well in both cases.
Monitoring, analyzing and strategizing business operations
Streamlining and automating your business is pointless if it is not monitored in a frequent and timely manner. The next big step is analyzing to understand where you need to rework or improvise. Follow up this step by strategizing your next big step to put aside all competitors and lead the market. Consistent monitoring, analyzing and strategizing keeps your business in good health and you stand out from your competitors.
Educate yourself about upcoming market trends
To stay on top is tough, to stay at the top of the mind of your customer’s in even tougher. Following traditional business practices takes you so far so that is enough to keep afloat. If you want to rise higher, you have to keep yourself updated about the latest technology, practices and hardware coming in the market that is beneficial for your business. Be it new ways of dry-cleaning like hydrocarbons and green dry cleaning, latest software tools that cut down your labor or latest chemicals that are highly effective in spot cleaning, you can’t afford to miss out on any of these. In today’s competitive world, your loss is your competitor’s gain. And we are sure you do not want to hand over any advantage to your competitors.
Do your SWOT Analysis
Every business has its own set of strengths, weaknesses, opportunities and threats. These can be categorized as internal and external factors. As the name suggests, internal factors are something that comes from within your organization or business. External factors are contrary to internal factors. They come from outside your business, things that affect your business but you can’t control them.
A comparative analysis of strengths, weaknesses, opportunities and threats as internal and external factors is called SWOT(Strength, Weakness, Opportunity and Threat) Analysis. Strengths and Weaknesses are internal factors, Opportunity and Threats are external factors. Strengths and Opportunities are helpful for your business, whereas Weaknesses and Threats are harmful for your business.
Doing a SWOT Analysis for your business makes it visually quick and easy to get down to the problem areas of your business. Maintaining your strengths and constantly moving things from the opportunity to strengths is a successful strategy. On the other hand, working on your weakness makes your business optimized for your maximum output. SWOT analysis is the simplest way to keep your competitors in check by making your business strong and successful. This is one of the most used ways to stand out from your competition.
Market yourself as a brand and not as a business
To sell, you need to be visible, hence market yourself. Smart work brings double the results in half the time. Thus, smart marketing highlights your business in a bigger picture. The catch here is that you portray your business as a brand. Business represents you and the brand represents the service you provide. In the longer scheme of things, brands are used synonymously to the service that they want. For example, if you want butter your mind automatically associates it with Amul, if you want pizza your mind links it to Domino’s or Pizza Hut. If you want a burger your mind associates itself to McDonald’s and so on. For the service industry, if you want groceries you look for Grofers or Big Basket. If you want home delivery of food, you look for Swiggy, Zomato or Uber eats. The examples are endless. The point is that you may not know the owner of the business yet you are completely aware of the services that they offer. Similar to your case, what you market and how your market plays a huge role on the end-users. Marketing as a business puts you at the centre whereas marketing as a brand puts the experience of the customer at the centre. Customers relate better with experience. Hence, connecting to your customers based on how they feel and experience the services makes it easy to reach them and make a mark.
Out of all the ways, some you might have already tried, some might be relevant to you more than the others. On the whole, these ways are meant to help you figure out the best way that works for you.
Quick Dry Cleaning Software comes with all these features built-in and supported by it. Working in this industry for over 9 years, has taught us a lot and we understand how crucial it is to you to stand out of your competition. Anything that makes your life easy and comfortable is a top priority for us.
If you are struggling to cope with competition, connect with us immediately to resolve all your challenges. Click on the link below to schedule a call with us.