In today’s economy, businesses are failing each and every day. Are we to blame the recession or Hard Times? The answer is no we can’t. The problem is that in almost every industry, everyone seems to think that they can be just like like everyone else and still do fine. That just isn’t the case any more. To make your business survive in these tough times, you have to stand out from the crowd. You can’t be just like everyone else. If you are, then the only thing you have going for you in your price. Price wars are never a good thing and devalues your products or services. So what can you do to overcome this issue? You need to differentiate yourself from your competition. The following ideas will help you stand out from the crowd and gain more business, helping your prospects know that your are the only logical choice.
-What are your competitors doing? Do the opposite!
If they are all promoting on price, you should be promoting on extra value. What can you add to your products or services instead of dropping your prices? If you sell a $100 product and your competitor is selling the same basic product for $90, then look at what you can add to your product that will give the value of $150 or $200 instead. Anything from gift cards, an extra room of cleaning, to free chair massages at a hair salon can make a huge difference to your customers perception of your company and they will be willing to pay the extra price for the additional services.
-Be unique.
Add personality to your business. Let’s look at an example. If you have a security company, your company uniforms could be different than the standard boring “Rent-a-cop” look by having camo-wearing guards or secret service style uniforms. Something to make you stand out from the norm. This will not only get attention but other potential prospects will take more notice and be sure that all your employees have business cards to hand out if someone asks about your service.
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