One of the main problems facing today’s companies have greater competition.
Some years ago we could find companies that had little or no competition, but today it is virtually impossible to find a company that is not threatened by the large amount of competition you have, which in most cases will be willing to do everything arrebatares possible part of your market.
Competition is increasing and more and more ruthless, and if we do nothing to overcome not only stop growing, but we risk losing our market.
Let’s look at 6 Tips to Beat the Competition:
Analyze the Competition
The first way to beat the competition is to analyze, as this allows us to obtain clues about the specific decisions or strategies we can take to overcome it; for example, to analyze if we discover that they can not keep their prices low, to overcome it we could choose to reduce ours.
To analyze the competition we could visit their premises and take note of their processes, customer service and products offered to study buying their products better, contact their former workers and consult them about their strengths and weaknesses, etc.
Find Out Why Consumers Prefer to Competition
To find out why consumers prefer the competition, we could do a poll where you ask your customers why they prefer, why they buy it before us, what associated word every time you hear his name or trademark, etc.
Increase the Quality of Our Products
One of the main factors consumers take into account when choosing a company is the perceived quality of their products, so a key to beat the competition is to increase the quality of our products, at least one more step that the products of this.
To increase the quality of our products we can provide them with better inputs, provide them a more attractive design, making them more efficient, faster, more durable, etc.
Improve Customer Service
Another major factor that consumers take into account when choosing a company is customer service received, so another key to beat the competition is to improve our customer service, at least a little more than the customer service provided by them.
To improve our customer service, we could try to provide a more friendly service, more personalized service, faster service, etc.
Reduce Prices
One way commonly used to beat the competition is to reduce prices below the price thereof; however, we must be careful when using this strategist as well as reducing our profit margins, competition could also imitate.
Should only use this strategy when not seriously affect to use our profits and when competition can not easily imitate. A variation of this strategy is to increase our prices above the competition, in order to create a sense of higher quality products than in this.
Constantly Innovate
Constantly innovate new products, allows us to permanently capture the interest of consumers, including customers from the competition and keep us in a leadership position.
Innovate is steady could involve constantly bring new products to market that does not necessarily have to be brand new products, but those who already have we could make some changes, for example, add new features, giving it new features, or just change the presentation or packaging.
