Thousands of startups have emerged in the last few years, and the number keeps increasing by the day. With so many startups plaguing each sector, competition makes it difficult to differentiate yourself from the others and build your own brand. If you want to secure a substantial share of the market, you need to build your brand brick-by-brick. Effective differentiation is one of the biggest challenges most startups face, as they not only have to compete with other startups in the same sector, but also with the big giants.
Here's how you can make your startup stand out from the competition:
One of the biggest mistakes most startups commit is not building an online reputation from the onset of their business. Before you even launch your startup, your company needs to have a strong online presence. Use your online presence to spread awareness about your brand. Deliver information about your new company to your followers and keep them updated about the progress. Doing this will set you apart from your competition, and you'll also get a chance to start interacting with potential consumers.
The one thing that can surely set you apart from your competition is how you treat your customers. Even if you are not in the service industry, you still need to treat your customers like royalty. Customers hate talking to representatives who have poor knowledge about the brand. You therefore need to train your team well, as customer service is the litmus test of a company's competence.
Make your customers aware of the USP of your brand and let them know what sets you apart from your competitors. Explain the problem your brand is here to solve and why you are better than the other solution-providers out there. Study your competition and find out what differentiates you from them. Instead of worrying about similar products, come up with ways to make the experience you're offering better.
Honestly should be your brand's main policy. If you cannot deliver a project by a certain deadline, update the client in advance. If your field reps have messed up on a bid, immediately inform your client about the blunder. Taking your customers and clients for a ride can cost you your business in the future. The faster you share bad news, the more your clients will respect you.
Seek out influencers that are right for promoting your brand and send your product to them before it launches in the market. They will help you create awareness in your target community. Pick influencers who have a substantial following but don't go for 'social celebrities'. Only the right influencers will care about the purpose of your product and provide the ROI you are looking for.
Standing out in a crowd is getting more and more difficult by the day. Follow the above-mentioned tactics to create an advantage for your venture.
Read Also: 3 ways your startup can survive competition