30 Aug 5 tried and tested ways companies can compete in the Crowded Global Marketplace
We are currently in the best possible time for Entrepreneurs and Business Owners with the advancements in technology and collaboration opportunities. Here are 5 things you need to pay attention to now, to become a Business of the future.
5) Supply chain sharpness
The world we live in today has new standards, customers want things now. If not today, then at worst tomorrow? You should keep high demand items in stock for customers to take away now, or be able to fulfil their orders within the next few days, or risk them going elsewhere. Many companies will offer an online alternative, which enables you to order now and get something delivered tomorrow e.g. Next or Amazon. They do this by setting up strategic partnerships with collaborators who can make this happen.
4) Be engaging and memorable
Social Media is extremely popular because it is a way of engaging with a wider audience as well as a way of creating memories that you can recall later on. What does your brand do to engage its customers? How do you interact with them to get them into a conversation? Be clear on your target customer and then ensure you are regularly visible where they hang out. Design and deliver an Experience that will make you both desirable and memorable.
3) Be multi-channel, be mobile
This should not be a surprise to anyone reading this, but the word mobile means different things to different people. Be available in more than 1 format, as customers are migrating from the traditional forms of buying, make sure you have a presence in multiple formats. Your customers should be able to access your goods/services in different ways.
Physical buying is still the most popular method of shopping, but more and more people are using Mobile devices to either buy or investigate. This “investigate” usage is a key area where you can improve in 2017, when people google your products, can they see some feedback/reviews online?
2) Strengthen your Brand
How do you know when you have strong brand awareness? Well, when you ideal customer thinks of something that you sell, the first name that comes into their head should be you.Have a strategy that will build up a strong and consistent awareness of your brand with your target customer and your target market. Make sure you are known for being the best at what you do. Make sure, people clearly understand what you do and how you do it.
1) Customer Focused
Make sure everyone in your company, from the doorman to the delivery driver knows and understand how they are affecting the customer. Make sure everyone knows how they add value to the customer. Make sure everyone is thinking, acting and delivering with a customer to adding value to the customer.
When you are customer focussed, then you are making yourself look, operate and think like your customers think. This approach will help you become a better fit for your target customers and build stronger relationships with them.
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