Being an entrepreneur comes with benefits worth considering. For starters, you have the liberty to determine what problems your innovative products or services seek to address. Moreover, you have the opportunity to build wealth and achieve financial stability while providing employment opportunities for others. Despite these perks, other entrepreneurs offer similar products or services, leading to business competition. Statistics indicate that there are approximately 5.4 million small businesses in the UK. So, do you want your business to stand out from the competition? Here are some strategies you can utilise for the best results.
How To Distinguish Your Small Business From The Competition – Take care of your employees
Your employees are essential to your business for many reasons. First, they represent your business as they interact with your clients daily. Your clients will likely form an impression of your business based on how your staff treats them. Likewise, their skills and experience contribute to your business growth, development and credibility.
This means that satisfied and happy employees will give their best input, while disgruntled employees may not be obliged to help your business succeed. Worse, employee dissatisfaction can lead to high turnover rates, causing your customers to doubt your business’s credibility. You also risk losing top talents to your competitors. Therefore, you want to treat them well if you haven’t already.
You can begin by encouraging open communication, where your workers can voice their opinions without judgement. Also, creating a suitable work environment to enhance their comfort and productivity is helpful, so keep this in mind. It’s also prudent to provide opportunities for career development and celebrate their hard work and achievements.
How To Distinguish Your Small Business From The Competition – Surprise your customers pleasantly
Admittedly, your customers are a crucial reason you established your business, making it essential to prioritise them. Statistics indicate that 72% of customers will share positive feedback with 6 or more people, boosting your business credibility. However, research also indicates that only 1 in 26 unhappy customers complain as they prefer to patronise other brands. You risk losing your clients to your competition if you don’t meet their expectations. Therefore, you can keep your customers happy by surprising them in pleasant ways.
Fortunately, you don’t have to spend exorbitant amounts of money, as the little things can go a long way to delight your customers. For instance, you can send a personalised hand-written card instead of the generalised texts to thank your clients for their patronage. Top-notch customer service effectively boosts customer loyalty, so keep this in mind. Social media customer shout-outs, referral programs, free shipping and delivery, etc., are also helpful, so feel free to consider them.
How To Distinguish Your Small Business From The Competition – Be charitable
Another way to set your business apart from the competition is to engage in charitable activities. It encourages the public to view your business positively and associate with your brand. Moreover, you get the opportunity to help your community in various ways, increasing your business credibility. You can offer to sponsor local events like sports tournaments, street parties, etc. You can also partner with other businesses to help the elders in your community by donating washing machines for care homes, so keep this in mind.