In the current state of economic growth, regardless of what industry or sub-niche you choose to get involved in, there is a huge chance that the competition will be quite tough. However, distinguishing yourself from them might not be as hard as you may think. Over 50 percent of small businesses don’t even have a website, which is simply unforgivable in 2017. Just by getting a domain name and making a little effort at web design, you will already rank yourself above most of these companies, placing yourself in the top-half of the market. This is just one way to distinguish yourself in an over-saturated niche, and here are four more.
1. Work on improving your conversion rates
The top 10 percent of the internet have a conversion rate of 11.45 percent, while the bottom 75 percent go as low as 2.35 percent. You don’t have to be a statistics expert to see just how big of a difference this is, but the real question is – what causes such a discrepancy? The location of your CTA button, its color and the overall layout of your content are just some of the many things you can improve. In the 21st century, there is no reason to avoid making your web design completely data-driven.
2. Go that extra mile
You don’t need to be better in every aspect of the business in order to be deemed as superior; you just need to show that you are ready to go that extra mile. For instance, by offering next- or same-day delivery option, you can easily win over the majority of your target audience without even trying. Still, this might be a bit more complicated than it seems at first, since such a feat requires your corporate infrastructure to work like a well-tuned machine. We are talking about improving your warehouse storage system and finding the most effective freight solutions, provided that your suppliers are from abroad.
3. Responding to customer feedback
The next major area to work on is your public relations or the way in which you handle customer feedback. Although praise is great for boosting your ego, when you think about it, aside from that it doesn’t contribute much to your organization. On the other hand, people who are dissatisfied with your service sometimes have invaluable suggestions that you can turn into million-dollar ideas. Unfortunately, sometimes these negative comments have no constructive criticism to them whatsoever, but this doesn’t mean you can be dismissive or aggressive towards them. Keep it professional and you might just turn a critic into a potential customer.
4. Rethink your prices
Finally, even if you have the best customer service, a flawless business infrastructure and an amazing online presence, no one is going to buy from you if your prices are ridiculously high. Sure, impulse buying can sometimes be turned into an asset, but even the neediest of customers won’t be willing to overpay for a product they can get elsewhere for just a fraction of the price. What most business owners often forget about is that price is a living thing which evolves together with changes on the market. In over-saturated niches, however, the task of keeping your prices competitive will not be an easy one.
Conclusion
By boosting the visuals on your website you will improve your audience’s first impression, and by offering an extra feature you will also give them a reason to stay. Furthermore, by handling their feedback in the most professional and expedient way possible, you will start working on your customer-friendly image, which in time might evoke brand loyalty. Nonetheless, keeping your prices low is probably the only 100 percent reliable way of staying competitive in an over-saturated market. While there are other ways of distinguishing yourself in the myriad of competitors, these four methods are probably where you should begin.