The 21st century, and specifically the digital era, is a gift to the enterprising individual who’s sick and tired of the perilous career ladder. Through digital means they can access the information, coaching, guidance, tools and funding to establish a thriving businesses. However, while the ease of access to digital resources for new entrepreneurs is a wonderful gift, it’s also a gift that’s available to their competitors. Staying one step ahead of the competition and maintaining a loyal customer base is an increasingly tricky prospect in an era where customers are better informed than ever and brand loyalty grows increasingly scarce.
Their SEO is better
Even if your business has a physical presence, it’s likely that new prospects will first encounter your business in the digital realm. They will likely find you after performing a search for the products and services you offer using their preferred search engine. If a competing company has better Search Engine Optimisation (SEO), there’s a good chance that the prospect will click on their website before they click on yours.
Businesses dedicate a great deal of time and effort to boosting their SEO but here are some things you can do to improve yours right now;
- Incorporate more internal and external links
- Make changes to reduce page load times
- Get a security certificate (Google will penalise you if you don’t)
- Update your website regularly with high quality content. Speaking of which…
They produce content that their customers value
Content marketing is an extremely useful tool in establishing your brand and reinforcing your relationship with your customers. Creating regular blog posts, tutorials, infographics and cornerstone content such as white papers not only gives your SEO a boost, it also helps to establish your knowledge, authority and credibility in the eyes of new prospects.
To be of real value to customers, your content needs to be based around their wants, needs and concerns. It needs to help them solve problems they encounter or make informed choices that matter to them. If your content doesn’t do that (or if you don’t generate content at all) your competitors who do may poach your customers.
They give out cool branded goodies
Who doesn’t love something for nothing? Giving away freebies is not only a quick and easy way to ingratiate your brand to your prospective clients, it’s also a way to keep your business at the forefront of their minds and build positive associations.
While many SMEs are wary of additional overheads, you can see by checking out thepinfactory.com.au that custom branded goodies are an eminently affordable way to build a great relationship with customers. If you’re not doing it, you may lose business to competitors who are.
They know their customers and their industry better
Many nascent entrepreneurs are very familiar with the concept of market research. It’s a guiding force that guides every decision in the planning and development phase of their business. It’s how they’re able to ascertain proof of concept for their enterprise and how they’re able to make an impression in the market.
However, it’s a mistake to assume that your relationship with market research ends when your business is up and running. Qualitative market research data should continue to inform your business strategy including the development and launch of new products, changes to your branding, new marketing campaigns and operational policies.
To put it simply, everything you do should be informed by a knowledge of your core clientele. It should also propel you towards an increased knowledge of your own industry and how you can take advantages of consumer and technological trends to better serve your customers.
If you can’t do this, you will end up like Blockbuster Video while your competitors wind up more like Netflix.
They have a better loyalty scheme
Finally, let’s be honest… Does your loyalty scheme give your customers more of what they really want? Or does it just give them a little of what you want to give away? A loyalty scheme can be a powerful way to attract and retain customers, but to be effective it needs to give customers discounts or freebies on the things that they buy, want or value.
Otherwise you may not come across as caring about them as much as you do!
If you can consistently demonstrate that you know your customers, know their needs and can continue to bring them the very best value you need never worry about your customers leaping into the open arms of your competitors. You’ll already be giving them everything they need!