It's very rare these days to find an organization that doesn't face fierce competition in the market. Therefore, it's crucial to adopt a differentiated approach to make your company competitive.
However, contrary to what one might think, maintaining a competitive advantage doesn't depend solely on price or the characteristics of the product or service itself. The truth is that many companies tend to ignore other factors that are much more valued in today's market.
In this post, we present 5 ways to make your company competitive by adopting certain practices. Stay tuned!
It's a fact that no two companies are exactly alike. Even the most traditional organizations always have something that can be defined as a differentiator.
Thus, location, sustainability measures, community programs—in short, anything that adds value to the company can become a competitive advantage. It's important to know how to exploit this advantage at the right time and in the right context, so as not to appear opportunistic, i.e., irrelevant.
If you decide to explore a differentiator, you need to know your competitors, consumers, and anyone else involved in your market well. After all, there's no point in trying to differentiate yourself or invest in any strategy without first understanding the landscape.
In this sense, do the benchmarking to learn more about your competitors. To understand your audiences, market research is necessary, whether simple or more elaborate. From there, you can take action based on the market.
Marketing, whether through market intelligence or campaigns, is your key ally in making your company competitive. Therefore, it should never be seen as a cost, but rather as an investment.
Once you've discovered your unique strengths and potential, you can promote them through campaigns that connect with your company's different audiences. Just be sure to plan carefully and invest in the most appropriate channels for each situation.
Every company always wants to win new customers. However, many forget to also focus on loyalty of the old ones, something much more efficient and cheaper, since, if they are satisfied, they themselves will help to win over others, through word of mouth and social networks.
To achieve this, conduct satisfaction surveys and engage in relationship marketing initiatives, such as sending targeted emails. Most importantly, maintain an active flow of communication with customers so they always remember your company.
Finally, we emphasize the need to also care for an extremely demanding audience: your internal audience. Your employees are your company's main advocates, helping to increase competitiveness.
In this way, in addition to offering good working conditions and decent pay, take actions to develop in them a sense of belonging to the organizational culture.
Ultimately, having a competitive company requires hard work and the understanding that you can't build a solid, respected brand alone. After all, several factors and audiences converge to achieve this.
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