Today's marketplace is more competitive than ever. With aspiring entrepreneurs entering the market at an accelerated rate, your company must set itself apart instantly from your competitors.
Just look back at the plateau of Myspace, which operated comfortably until a new social media website called Facebook disrupted the market. Although Myspace and Facebook had their technological differences, Facebook (at the time) lacking revenue and with a seemingly small user base ultimately won the war.
Here are two unique strategies to deploy that will help your company stand out in your crowded industry (and not fall victim to the Facebook effect):
Innovate Before It's Too Late
The head of Myspace stated that Facebook won because it perfected the social networking concept whereas MySpace only brought it to the market.
In your business, think about how customers are interacting with your product and your staff. If your company seems out of touch, not responsive, or downright old-fashioned, your competitors will use your lack of innovation as a selling point to persuade customers to use their company over yours.
Notice an increase in engagement on your company's Facebook Messenger? Consider developing a chatbot to answer your customers' questions 24/7. Your business will start to appear more responsive to your customers when they can get basic questions clarified within seconds opposed to minutes. Furthermore, with the proper implementation of a Progressive Web Application, your customers can access your digital coupons, call your company with one touch, and receive instant notifications about your business immediately on the web.
Simply put, a company website and a native mobile application are not enough in our instantaneously inspired world. Consider substituting your company website with a Progressive Web Application to stay ahead of your competitors.
Personalize Your Customers' Offers
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The Business of Pride
With the rise of automated marketing, companies are resorting to an efficiently impersonal way of communicating with their customers. Your competitors are using these same "dated" strategies to interact with their client lists every day.
Consider employing your social media team to dig deeper and to learn more about your clients as individuals. As your team learns more about your clients and strategically annotates your customers' hobbies, places of interest and intentions, you will discover that you can craft personalized emails targeting them more efficiently.
Did your client's mother recently celebrate a birthday? If so, personalize the email by first sending well-wishings. Share a great quote about motherhood and community in the email's introduction. You will discover that your personalized emails will be read more, increasing your click-through rate and allowing your company to stand out from your competitors while appearing more intimate.
Facebook realized that its users preferred personalized content, an innovative browsing experience and a more intimate community feel. Continuously explore ways to personalize your clients' interactions with your company, and over time, you will emerge as a more modern and efficient organization.
The coming year will become the year that brands discover techniques that will allow them to connect with their target markets more personally. Implement innovation and personalization into your strategy to effectively differentiate your brand from your competitors in 2018.