To beat your competitors as a business in Nigeria feels a lot like a battle. It is relatively simpler to develop a good business idea. However, implementation and standing out are much more complicated. You have the market forces and competitors to worry about. Therefore, you need to know just the right formula to stand out.
Just like all other businesses in your market, you want to gain the heart of your customers. Everyone wants to beat others to it, regardless of how popular the brand already is. If you also think standing out is important, below are some easy ways to achieve it.
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7 Ways to Beat Your Competition in Business
Even if the product or service you render is of good quality, a lack of knowledge on how to sell it will put your business behind. It takes good marketing skills to beat your competition as a business in Nigeria.
To beat your competition as a business in Nigeria, you need a defined content strategy. Your branding must pass a unique message across to your target consumer. For instance, Porsche as a brand communicates luxury and Apple communicates innovation. You must adopt a message that captures what your ideal buyer persona needs in your product or service.
Learn to sell what you have in the best possible way. Design an advertising strategy. Support it with online and offline campaigns. That way, you can achieve a direct impact on users in a relatively short time.
Many Nigerian businessmen and women follow trends, instead of choosing to be different. To beat your competitors as a business in Nigeria is that easy. If another person’s success (and strategy) is your only business map, you may always be behind them.
Novelty is always the key. It always pays to solve a problem with a different approach. Your solution may be centered on new approaches to marketing, customer interaction, or anything! Doing something different, and useful to meet the needs of an unsatisfied customer is guaranteed to give you an edge over competitors.
Set competitive pricing
Another easy way to beat your competition as a business in Nigeria is to offer a price different from your competitor’s. Just so you understand, pricing is one of the core parts of a brand’s marketing mix. It requires a lot of deliberation and research.
To do this, you need to factor in a lot of things. You need to consider profit and loss metrics, regulatory policies, customer perception, and so on. Also, you should research the product your competitors offer and the quality of the products. Finally, piece all of that together and set your ideal price point. Then you can determine if what you are offering brings more value to the table and whether it should be priced higher.
Know your customers
This is a very important thing to do if you want to beat your competition as a business in Nigeria. Knowing your customers will help you focus on what is important. It will help them understand their needs, pain points, and behavioral patterns. This information is necessary for product development, and customer satisfaction.
The saying that “customers are always right” alludes to customers being at the heart of every business. If they are not your priority in business, then handling business competition would be tough.
Be present everywhere your customers are
To beat your competition as a business in Nigeria, you must always be present everywhere your customers are. If they are in the market, let your business be there too. If they are on Twitter, let your business be there too.
Also, attend whatever conference your competitors are attending. If your competitors (with the same customers as you) are to attend a business conference, be there too if possible. If they are on the specific trade show, make your business be there. Remember, availability is important for visibility. The more available you are, the more customers see you.
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Train your staff
This is where most businesses miss out and it makes it difficult for them to beat their competitors. As a business owner, it is pertinent that you integrate your staff with your vision for the business. They need to understand the core values and the goal the business wants to achieve in the long term.
Furthermore, staff members must be current on trends regarding their specialization. They should engage in capacity training within a specified interval, courtesy of the business.
There are two sides to why this is important. First, personal development has a nice ring to it as an incentive to your staff. Two, excellent individual work fosters smooth team collaboration in many instances. So, you would be doing your business a favor if you do this.
It may be through courses, self-study, or online courses, everyone working with you needs to constantly improve. Work with your staff on building a culture of continuous improvement. A saying says “Learning never ends”. Imbibe this culture and watch as you easily beat your competitors as a business in Nigeria
Do not speak ill of your competitors
This is an ethic you should stick to if you want to beat your competitors as a business in Nigeria. You do not need to tear down the competition to beat them. A good business focuses more on customer satisfaction instead of destructive campaigns.
Destructive campaigns are detrimental to your branding as a business. It portrays a lack of confidence in your products, and your consumers can sense it. The best way to appeal to the consumer’s sense of comparison is to make a better product. You should give it a try, it works every time
Business competition can be intimidating, but it is important for every business’s survival in the market. Competition fosters creativity, innovation, and a customer-centred market. Like all other businesses, you would be compelled to keep upgrading your products and services to stand out. Therefore, a successful business does not get intimidated by competition, they are challenged by it.
You must remember to always embrace competition. Be open-minded to what your competitors are doing, and be attentive to the customers. Try all of these, and you are sure to beat your competition as a business in Nigeria.
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Olunlade Toluwalase Joshua is a Certified Content Writer, a Certified Computer Operator, and a Certified Copywriter. He is also a sexual puritan, a youth advocate, the Gospel's Voice.
He is passionate about the gospel and impacting lives with his writing skills and public speaking.
He guides youths to navigate the destructive and distracting hurdles on their path.
He is a reporter in a non-governmental Academic Organization called Aremu Oluwabrain Academy (AOA), the online Community of every Nigeria Student, to interact and get useful information.
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