Portrait of businessman challenges

By Rachelle Wilber

Whether your business is big or small, there’s no doubt you have competition on many fronts. As a result, it’s imperative to study all facets of your competitors in order to gain every possible advantage. While most business owners focus almost exclusively on such tried-and-true methods as lower prices or providing customers with new products or services, others use these and additional methods to put their competition on the run. If you’re facing stiff competition in the marketplace and want your business to be a fierce adversary, here are some of the best ways to beat the competition.

Lower Prices

For many customers, considering the cost of a product or service is the one and only way they decide with whom to do business. So while it may be a tough thing to do at times, almost all businesses try to figure out how to have a lower price that will keep customers coming back time after time. Whether you are a large global company or one that only has one or two local competitors, chances are you’ve considered how to lower your prices in order to stay on top. As with most businesses, deciding a fair price for their products or services can be complex, but it is not an end-all for getting and keeping customers. Ultimately, the price of a product or service, combined with other aspects of the business, help customers make their final decision.

Customer Service

Along with pricing, most businesses agree customer service is one of the biggest factors that determines if they can stay ahead of the competition. While most customers agree they like to deal with businesses that offer low prices, they also agree that given a choice, they will gladly pay a bit more in order to have excellent customer service. In today’s business world, more and more businesses cut corners in many areas, and customer service is at the top of the list for both large and small businesses. Believing low prices conquer all, businesses everywhere often have much lower levels of quality customer service than in years past. However, by offering such services as visiting customers in person to help solve a problem or calling them on the phone rather than sending an email, customers will often appreciate these personal touches and provide years of return business.

Well-Trained Employees

If you want to beat your competition at every turn, have the best-trained employees in your field. To make this happen, let your Human Resources Department take advantage of the latest HRIS software. By doing so, you’ll be able to help employees gain skills in the latest technology, as well as have access to software that shows them how their strengths and weaknesses impact their job efficiency. In addition to these activities, HR software can also help business owners track the performance of their employees, plus let them work closer with each employee to provide in-depth performance reviews.

Show Customer Appreciation

To make customers feel appreciated, offer special deals to both long-time as well as new customers. For example, if you have a service business such as a salon, offer to give customers a discount if they come in on a certain day of the week. By making customers feel as if they are getting more bang for their buck, chances are they will jump at the chance to let you show your appreciation.

For businesses that follow these and other steps, it is a win-win situation for themselves and their customers. Whether it’s providing excellent customer service or offering a discount on the services you provide, there’s no doubt these tactics will make your competition sit up and take notice.

Rachelle Wilber is a freelance writer living in the San Diego, California area. She graduated from San Diego State University with her Bachelor’s Degree in Journalism and Media Studies. She tries to find an interest in all topics and themes, which prompts her writing. When she isn’t on her porch writing in the sun, you can find her shopping, at the beach, or at the gym. Follow her on Twitter and Facebook: @RachelleWilber.