How to successfully compete with other businesses
It might seem impossible for your small business to compete with bigger, well-known organisations that have thousands or even millions of customers.
However, you can still compete enough to make your business a success and convert some of their customers into your customers.
Here are four quick ways you can get an advantage in your industry and successfully compete with other businesses.
1) Take payments online
By taking payments for goods or services purchased on your website, you can compete with bigger businesses. Many people don’t like to be redirected to another retailer after checking and verifying they can trust your website. So with ecommerce payment processing from ph developers, you can offer your customers a secure way to pay for the purchases. This also releases you from the burden of having to store your customers’ payment details.
2) Be more personal
Having a smaller customer base doesn’t have to be a bad thing. This allows you to relate to them on a personal level. Many communities encourage people to support their local businesses over big corporations. By becoming part of the community, many customers will prefer to deal with you instead of an impersonal business. People don’t just pay for their goods and services; they buy into the whole experience. A friendly face they know and trust can make all the difference in their choices.
3) Highlight the differences
Highlighting the differences between your business and competitors doesn’t have to become a stand-off or a bragging contest. There are ways to highlight the good things about your business without directly comparing yourself.
Customers will often see the differences for themselves. For example, by saying your business offers a personal approach, customers will be likely to think of businesses they currently use, which make them feel like just another customer. Or if you want to highlight any charitable and community projects, this will provide a positive contrast against many organisations which end up in the media for all the wrong reasons. You don’t need to lower yourself by mentioning anyone by name.
Another example is, although you can’t compete with the budget which bigger businesses have for hiring a team of experts, you can hire local talented individuals, who are just starting out in their career and give them the chance to use and improve their skills while learning new ones.
4) Make their weaknesses your strengths
If you research big businesses, you can identify things you and other customers don’t like or feel could be done better. Then, if possible, add or improve these in your own business. For example, if postage costs put you off, your small business could offer local customers free next day delivery if ordered by a certain cut-off time. If you’re a driver, you could make the deliveries yourself. Alternatively, you could offer free collection.
Competing with other businesses doesn’t always mean trying to outdo them or making bigger gestures or more money. As a small business, you can make a positive impression, although on a lesser scale, by offering a more personal touch and contributing to the local and wider community.