As a business owner, you’re probably already aware of the high failure rate associated with operating your own enterprise There are many reasons a business might fall apart (only a third make it to the 10-year mark), but one of the most common is a failure to stand out from the competition.
If your business is one of several local enterprises that offer the same products or services, you must set yours apart from the others. If you aren’t sure where to start, the list below is stocked with some simple yet powerful ways to make your business stand out.
1. Be A Gift Giver
Giving your customers promotional products helps your business stand out amongst the competition because these gifts remind people of you every time they see or use the item. If the product is something useful, they will see your logo often and remember to turn to you when they need something you offer.
While many business owners view promotional products as an expense they can’t afford, offering these gifts will keep your business at the forefront of your customers’ minds, which means they’re more likely to shop with you rather than the competition when the time comes.
2. Offer Extraordinary Service
Many companies like to say they offer extraordinary service, but just saying it doesn’t make it true. If you can offer the kind of service people can’t get anywhere else, they will come back to you time and time again. Take for example a company called Fleet Feet. They watch how you walk or run and then make shoe recommendations that will be the most comfortable and useful for you. They even let you make a few rounds in the parking lot to test the shoes out.
Their customer service kicker comes in here: If for any reason, your new shoes don’t work out for you, they will refund your money and help you find a pair that better meets your needs. This is the type of customer service you don’t see everywhere, and it sets Fleet Feet apart from all the other shoe stores out there.
3. Do One Thing and Do It Well
When you try to appeal to the masses, you really aren’t serving anyone completely. To rise above the competition, focus on one niche and do it well. For example, a tattoo parlor that advertises “all types of tattoos” isn’t really specializing in anything at all. Specializing means you do just one thing and are an expert at it. Now, if the tattoo parlor advertised a specialty in traditional Japanese designs, customers would have a better understanding of what they do and where to turn for that particular type of tattoo. This is the niche that sets them apart from the other tattoo parlors in the area and makes them an expert in their part of the industry.
4. Offer a Guarantee
When you reduce or eliminate a perceived risk, customers are more likely to buy. Offering a guarantee with your product or service is a great way to increase sales and make your company come across as being more friendly and trustworthy.
A good example of a guarantee that’s hard to ignore is the Zappos year-long return policy. Who can have reservations about buying a pair of shoes when you can return them for any reason within the next year? What makes this guarantee even better is that Zappos offers free shipping both ways.
Ultimately, to run a successful business, you have to stand out from the competition. For help in making your business shine, refer to the list above.