Every small business owner knows that in order to make sales you have to find your niche, those special things about you and your business that make you stand apart from your competition.
Most small or home-based businesses don’t have the resources to compete with the big operations on price alone, and that’s ok. Your customers want value, and there are many creative ways to increase value and still maintain a healthy profit level.
There are three other areas besides price that you should look at when trying to distinguish your business: your target market, your method of delivery, and the actual product or service that you provide. Here are eight ideas to help you get started.
- Offer something your competitors don’t. Or make it available to a different market. Look at how your competition does things, pick one segment, and do the opposite.
- Add an extra feature to your product or service that others don’t have. For example, combine it with a supplement, or a complimentary product or service.
- Find ways to personalize your product or service. Everybody likes to have something created just for them.
- Find ways to add more service, or make the product bigger. Super-sizing isn’t just for fast food.
- Improve the quality and make it last longer. This is a sure-fire way to increase value.
- This is an on-the-go society so maybe you can make your offering portable, or if it already is, extend the radius.
- Make it fun or entertaining. Give the customer more ways to enjoy your product or service.
- Make it easier to buy or use. Remove the inconvenience – less waiting, no irritations, the most helpful service, detailed instructions, user support, etc.
Make an effort to evaluate your business on a regular basis and find ways to improve. If you do, you will find many more ways to set yourself apart and grow your business.