Top 10 Ways To Beat Your Business Rivals

ways to beat your business rivals

No matter how small or large your business is, you have to do everything you can to survive in the competitive marketplace. You may think the product you sell is the greatest invention in the world, but chances are there will be hundreds of other companies selling something similar. 

You need to beat the competition, but take care of your strategy. You don’t necessarily want to beat other companies into the ground and force them into bankruptcy, but then you don’t want to be their best friends. Friendly rivals are better than bitter enemies, so forge a relationship with them, but don’t give away any of your business secrets

Don’t fall into the trap in undercutting your prices to beat your rivals, as you can end up in financial trouble. There are other ways you can stand out in the marketplace, so take a look at the great advice we have for you in this article on crushing the competition. 

Analyse The Market

One of the key ways to stand out from your competitors is to understand the business market. Collecting data to find new streams of revenue and understanding market trends is an excellent way to gain business advantages over your rivals. There are services to help you do this and help you make smarter choices when running your business. 

Create A Better Product 

The only way you can justify having a higher price tag on your product is to make it better than your rivals. Use better quality material and tools, along with optimal security on digital products, ensuring your product is made to last and not fall to pieces a few weeks after purchase. Your customers want something that looks good and is reliable, so in the production and design of your product, make something that outshines similar products on the market. 

Be Innovative 

It’s difficult to be original, but your product doesn’t have to be exactly the same as your rivals. Creating something with new functionalities will offer your customers something they can’t buy anywhere else, and will drive your sales. Of course, you will need to continue upgrading your product and create new ones, as your rivals will have an eye on what you are up to and will attempt to produce something similar or better than you. You'll also need to be innovative with your business marketing.

Be Accredited For Safety 

Find out about how your product can be certified for safety standards. Having the seal of approval is proof that your product has been independently tested, and will offer a guarantee to the consumer that they are buying something worthwhile. Again, this is another way you can stand out from your rivals, as if they don’t have the symbol of safety on their product, the customer won’t take the risk of buying from them. 

Be Eco-Friendly 

People are becoming more aware of the risks to the environment these days, so tap into public awareness by producing something made from recycled materials, or from ethical sources. For inspiration and supplier details, follow an eco-friendly business model as it will impress your customers. 

Offer Better Customer Service

When trying to keep customers, and attract new ones, you need to have good customer service skills. This is one way you can take advantage over your bigger business rivals, as you will be able to offer a more personal touch. A pleasant telephone manner and a quick response to queries are going to enhance your customer relationships. Remember, word of mouth is important, so when you keep your customers happy, they may pass the positive word about you to their friends. 

It doesn't matter what your business entails, whether you are selling software or Plastic Mill bulk trash bags, you must prioritize customer satisfaction. Keep customers content at all costs!

The opposite is also true, so no matter how much of a bad day you're having, never let it affect your customer relations. Also consider free shipping, as having the opportunity to save money may be at the forefront of your customer’s mind, and could be something your rival doesn’t offer. 

Change Your Opening Times 

Having a website means your business should be open 24/7, whether you are monitoring the site or not. However, having a store on the local high street is something entirely different. Rather than open and close at regular times, shape your business around the lifestyle of your customers. Being open longer in the week will be more supportive of those who work in the daytime. Having opening hours at the weekend when your rivals are closed will also offer convenience to your customers

Create A Better Website

Simply throwing together a website because that’s what everybody is doing these days is just not going to cut it when it comes to the customer experience. For starters, consider your company brand. Check out our free website and SEO tips to give your business a unique identity. Then have a look at your rival’s websites and try and go one better. Creating something attractive to look at and easy to navigate is your first step in giving your customers the incentive to stay longer at your site, rather than click the next link to one of your competitors. 

Improve Your Internet Search Ranking

With many similar companies to yours, it is easy to get lost within internet search engines. Your site needs to be optimized for SEO, meaning your website appears at the top of search engine listings rather than near the bottom. Should you be unsure on how to follow this internet practice, there is a handy beginner’s guide at which will help you appear higher in search engines than your closest rivals. 

Reward Your Customers

There is nothing customers love more than being rewarded with special offers or given freebies. Therefore, think about ways you can make your customers day, such as sending out free gifts to those who buy from you regularly, and offer discounts on your products should your customer buy in bulk. Rewarding your loyal customers will keep them on your side for years to come.

Competition Crushing Conclusion

Competition between businesses is only heating up in our digital and globalized world. Keep these top 10 tips in mind to beat your business rivals and kick the competition to the curb!

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I hope you enjoyed this article about the top 10 ways to beat your business rivals and kick your competitors to the curb!

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