If people do not hear about you, it is impossible for you to win. That is why my main focus will be getting heard in order to win within your niche. Today we will be talking about winning in a seller’s market can be hard! I would know, I operate in one of the most saturated spaces in the world. Everyone and their mother owns an “agency”, but I would love to give you 5 essential tips for standing out in a competitive market! It is important to understanding how to market as a small business and how to achieve organic growth, which we write about. Although, in this article we will discuss the following:
Highlights of winning in a seller’s market:
- Competitive Advantage
- Building a brand
- Customer service
- Loyalty programs
- Becoming known as an expert
Competitive advantage means that this is the part of your business that does better than anyone else in the market! By definition, it makes sense that you want people to focus on your competitive advantage, so essentially you want to devote time and energy to figuring out what your company does best and focus more energy on delivering it. You can find this by surveying your clients, or you might already know based on their feedback!
Build a brand
Branding is extremely important, nowadays people don’t want to be the “first”. They want to know that what you have works, that is why in marketing you need to follow up with people. They do not want to buy on the first attempt. This means that you got to work hard to make sure people know your name, while dramatically increasing your sales. If they don’t know you but as your service, they will look for someone that offers the same service with a name they trust. Social media is huge for small businesses so check out our article on that!
Winning in a seller’s market means AMAZING Customer Service
You often hear “the customer is always right”, while this is not always the case you want them to be treated like a king or queen. People want to feel special (especially us marketers) so grant them that. They bought your product/service so they should be special to you, treat every customer like they are your first. This helps with the next section!
Loyalty from a customer means they are a lifetime customer, this is great for business! Cultivating lifetime customers is hard but in theory, it can be simple. Create amazing loyalty programs to let them benefit from sticking around, this also means creating a referral program so they can benefit from word of mouth marketing. Do this by offering discounted services or other incentives for helping you find new clients! Customer service will also help people want to spread the word!
Become known as an expert
This can be a time-consuming process but is extremely important! Essentially, in sales, you are selling three things yourself, your business, AND your product. This means that you need to build trust. To build this expert name you need to live on message boards, Facebook groups, make blog posts, but most importantly you need to use social media to report and create content!
I hope this was helpful because I know how hard it can be to succeed in a seller’s market! If you enjoyed the post, please share it with your friends! Check us out on social media @thegrowthtranslators and YouTube, I would love to help you out in anyway that I can. If you are looking for help just set a meeting we would love to help or forward you to someone we know that can!