Tips and strategies for generating and maintaining a comparative advantage. What sets you apart from competitors? Aspects of quality, your services, or your costs?
I have actually framed this basic question to many business owners—and a typical response I would get would be: We are different we offer better services than company X.I know this may sound a bit harsh, but your services alone do not make you stand out from the competition.
The reason? Simply, whatever service you might be offering, your competition can take it, copy it, and even make it better. This applies the opposite way—if they seem to be successful doing X thing, you are going to copy them as well. Because of this, there are too many businesses out there who are offering the same or similar things, making it really hard to stand out from the rest quality-wise. The truth is, excellent customer service will set you apart to a certain extent from the average business who offers something similar, but if you want to differentiate from the top 10% players in your niche, you need to try harder.
The question is: How do you actually make your business differ from the rest? Here are 10+ aspects you could consider:
Quick response to client requests
Warranties and Guarantees
Problem solving skills
Expanded lines and multiple services
The issue here is that it will be extremely hard to beat competitors in all these aspects. You just have to choose one quality that you estimate will get you the best results, according to what your business can do.
There is one thing though that constitutes a unique asset for your company that will set you apart from the rest. Wonder what this asset is? It’s people! If you manage to develop and maintain good bonds with your clients, prospects, and investors, you could have a fairly strong comparative advantage in your hands. As a result of your successful business relationships, the rest of the business plans e.g. charging higher, will fall into place.
Creating Irresistible Customer Relationships
Although there is no magic fix when it comes to building real and rewarding customer connections, you could avoid any mishaps by closely monitoring your competitor’s strategies or your own mistakes like for example if:
A competitor offers the same thing at much better price
The client is friends with another seller
You’ve made the wrong movements.
These are just a few examples on how you can lose clients from your competitors. The true reason though why this happens, is because you fail to set your business apart from a client’s perspective or you give the wrong impression to your customer. If for example clients tried to reach you and you didn’t answer, this is obviously a serious inconsideration from your part.
Here are some tips on how to stop looking inconsiderate and start forming real and rewarding relationships with your clients
Respond promptly to client requests
Look and examine your feedback responses
Quickly and efficiently find resolutions to issues
Focus on continuous improvement of your services
Offer your clients the best value for their money
Be an active advocator on matters that are important for your client
Listen to your client’s needs and expectations and plan accordingly
Utilize multiple platforms of communication so clients can easily reach you from different channels.
You may think you are offering a good service, but without considering your clients’ needs and without developing great relationships with them, you won’t get too far in setting yourself apart from the rest. Therefore, make sure that you articulate a plan that will bring you a step closer to forming excellent client relationships!