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5 ways to make your business stand out from your competitors

Tuesday, April 28, 2015

As a business insurance provider, we want our customers’ enterprises to succeed and we know, better than anyone, that beginning a new business venture is daunting, no matter how much capital and financial backing you’ve got. You have to figure out all sorts of things, such as whom you’re going to rely on for adequate and appropriate business insurance, or where your premises will be located and whether you’ll lease or own. But one of the most important (and often overlooked) aspects to consider is how you are going to make your business stand out among your competitors.

These days, it’s hard to find an idea that’s totally original and in demand. For most entrepreneurs, their market already has its fair share of competitors, so if you’re going to make a success of it, it’s important to figure out just how you’re going to make your business stand out.

There are more ways than you’d think to do this. Read on to find out what your business’s defining characteristic may be: 

  1. Product or service
    This is the first place to look for a niche. Is there something about your service or product that sets you apart from your competition? It could be that you combine all of the best offerings of your competition and integrate them into one awesome service, or it could simply be the colour of your product, or even how much you charge for your services. Competitors are charging by the hour, try charging by the day. 

  2. Special and offers
    While everyone is trying to get as much out of their customers as they can, you can differentiate your business as the one that gives back to them. Specials and offers are an excellent way to draw in more business while building long-term relationships with clients.

  3. Problem-solving
    Just about every business exists to solve some sort of problem – restaurants for some relieve the chore of cooking, painters offer an attractive home, those selling fireplaces give people warmth in winter. Figure out just what sort of problem you’re solving for your clients and emphasise this in your marketing.

  4. Share Expertise
    With the internet providing people with a way to blog and publish their own work, it is fairly easy to share your knowledge and establish yourself as an expert in your industry. You can offer the greatest product in the world but it will mean nothing if people don’t see you as credible. Making contacts with well-known publications in your industry will have effects that will see your business through even the tough times.

  5. Customer Service
    Customer service is, arguably, one of the biggest frustrations that consumers in South Africa experience. Sites like HelloPeter.com are updated by the second with irate customers venting their frustrations when they simply don’t know what else to do. By being a business that places customer service above all else, you can set yourself apart. Reputation is everything – it will make or break a business. Make sure the word-of-mouth marketing you receive is positive.

There are a lot of things that can keep you up at night; don’t let your business insurance be one of them. We cover a range of businesses, from florists, to hairdressers, to driving schools, and more.