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Startup

6 practical strategies for standing out in a crowded industry

Posted by Shivali Anand

October 1, 2021 | 4-minute read (662 words)

One white chess pawn rests in the middle of a sea of black chess pawns.

Regardless of how unique your business concept is, your startup will almost certainly face competition. In a category with more than just one or two brands, the trick is to set your business apart.

Here are six steps to ensure your business stands out:

Make the most of data

Leverage data in a manner that your competitors won't to gain a competitive edge. Use data to figure out who your consumers are, and then turn that information into a campaign that caters to the corresponding demographic. By employing specialized targeting strategies, you can reach your target customer more efficiently and affordably than your competition.

You can also capitalize on data to determine the best media for locating those customers. Most companies know that the quantity of media consumed on mobile devices grows year after year, and if you're just targeting clients with messaging that isn’t mobile-friendly, you're missing out.

Remember that data doesn't lie. The insights you glean from analytics should inform how you can locate the appropriate consumers ahead of your competitors.

Messaging should offer solutions

You undoubtedly conducted an online search when you initially had the concept for your business. This helped you decide whether it already existed and if so, what existing competitors were up to. What did you type into Google as a search term? Take that search phrase and turn it into a marketing campaign. If you're having a problem and seeking solutions, chances are, so are prospective consumers. Use that messaging on your website, in advertisements, on social media and in sales materials.

Evaluate competitors

After identifying competitors, look at what they're providing, their sales methods and what they're doing well. Look for gaps in the market that your competitors aren't filling and expand your services in those areas. Some services evaluate the keywords that drive clients to your site and those of your competitors. Use them to remain current with how people are discovering your business versus other companies.

You should also be mindful of the costs and timelines your competitors are willing to provide. While you don't want to start a price war, you might provide a pricing strategy that is distinct from theirs as a means of differentiating your business. Furthermore, if you offer a 10-day turnaround service while your competitors offer a 15-day turnaround, you may gain an advantage in that market.

Make sure your customer service strategy is distinctive

Customers are willing to spend extra for a positive customer experience, and they want businesses to understand their requirements and expectations. As a result, your customer service plan should be one of the first things you focus on when you begin. Even if your competitors provide the same services or goods as you, providing better service and faster response times will put you ahead of the pack.

Customers that receive exceptional customer service will also tell others about it. Chewy, an online pet store, is a fantastic example of this. The company sent hand-painted images of customers' cherished dogs to a chosen few. Consumers posted them on social media, demonstrating their loyalty to the brand and serving as a method to go viral without investing a lot of money. Place the customer as your priority, and they will remain loyal.

Do you have a compelling brand story?

Some firms find that highlighting their brand story helps them stand out from the competition. Companies with a charitable arm, an environmentally conscious edge or a fascinating past story may discover that it's just what they need to stand apart. Some companies only include this information in their sales papers when it should be included in the brand story on all material, including their websites and social media accounts.

Maintain contact with customers

It may seem self-evident, yet many organizations are so focused on growth that they neglect to preserve existing client relationships. Answer the phone, react to emails, leave comments on social media postings and use messaging to communicate directly with your consumers.

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Subscribe to our blog

Startup

6 practical strategies for standing out in a crowded industry

Make the most of data

Messaging should offer solutions

Evaluate competitors

Make sure your customer service strategy is distinctive

Do you have a compelling brand story?

Maintain contact with customers

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