Your competitors may not be standing outside your storefront physically dragging away customers. However, they could be taking away potential customers from you if you’re not careful. You need to be proactive in uncovering who your competitors are and how they are reaching their (and your) audience.
You should utilize the tools available to your company to help your business beat your competition. There are both free and paid tools that offer your company the ability to reach your clientele. Use them wisely, and you should be able to convince them that you are the best option in the industry.
1. Booking Appointments
Tools that handle appointment booking on a small business website are beneficial not only internally, but for the outward facing portion of the company. You can allow individuals to interact with your company directly using these tools. Customers can schedule their own appointment online, and your calendar will never be overbooked again.
Appointments are important because they bridge the gap between curiosity in your company and interaction with it. They are mutually beneficial, giving the customer the information and service they need while allowing the business to drive sales. You want the ability to connect with prospects on their terms without sacrificing your time. And you want this regardless of the industry you’re in — whether it’s medical, finance, retail, or similar fields.
The best online appointment tools offer automated reminders to prevent no-shows. They allow customers the ability to change or cancel appointments in advance. You want the appointment to appear on both your calendar and theirs, so make sure it syncs with third-party calendars. If someone does miss an appointment, the best booking tools will gently remind them to rebook, recapturing revenue quickly and easily.
2. Communicate With Customers
Communication with customers is essential to stay in their minds above the competition. Electronic newsletters, promotional flyers, and marketing emails will all help your small business be seen and remembered.
There are numerous online tools for email marketing with various features that make them useful to your company. Tools like Mailchimp, Constant Contact, and HubSpot offer customizable templates, automation workflows, and detailed analytics to help you create effective email campaigns and track their performance.
Many options start out with a free account. As your business grows and requires more subscribers, you will likely require a paid account, but at that point, it should be well worth the investment. They should offer the ability to target specific groups of recipients. You can send sales on outdoor supplies or kitchen appliances to people who have bought similar items in the past. If you leverage the tool well, it should help you boost sales.
3. Know the Competition
Any small business should identify similar businesses that offer comparable prices, value, and products or services. Even if another company sells the same thing, it might not be your direct competition if you target different customer segments. For instance, a local campus coffee shop might not see the international coffee chain Starbucks as direct competition because they cater to different clientele. The small coffee shop focuses on creating a unique experience for college students, while Starbucks aims to provide convenience and consistency to a broader audience.
When conducting a competitor analysis, consider using the SWOT method, which stands for strengths, weaknesses, opportunities, and threats. List items for each point to determine how your competitor fares against your own strategies. You can also secretly shop at your competition to personally see how they work. Do they have a wide selection? Is customer service helpful? Was check out easy? You can compare them to your own store and make necessary changes to guarantee an even better shopping experience for your customers.
You’ll also want to check out your competitors on social media. See how they interact with customers. What and how often are they posting? Monitor their pay-per-click advertising and see what keywords they’re focusing on with tools like Google Ads and Semrush. Also, study their content marketing strategy to see what kinds of content they’re disseminating. They could have blogs, white papers, videos, and ebooks. You’ll also want to see what topics they’re covering.
4. Know Your Customers
Even with the wide availability of tools, 81% of marketers feel like they’re unable to access and understand customer data. This means they can’t direct the marketing campaigns to garner interest from their current and potential customers.
While you may know your customers’ purchasing habits, there is more to track that can help you refine your marketing efforts. You want to be able to build a relationship with your customers, improving loyalty and repeat business. Enhancing your ability to track customer data can help you to get to know your customers. Online tools like Facebook’s Audience Insights allows you to gather more data, such as what actually spurred a purchase.
You can also utilize customer relationship management tools to track and manage any and all interactions you have with your customers. For example, a CRM tool can help you identify when a customer last made a purchase, what they bought, and any previous interactions they’ve had with your business. This information can be used to tailor personalized marketing campaigns, offer targeted promotions, and send follow-up emails based on their preferences.
Beat the Competition
Taking advantage of online tools will help you beat the competition. You can find options to get to know your competition and your customers so that you can plan your marketing efforts. Take advantage of tools that allow you to interact with your customers, allowing you to improve your relationship with them. An improved relationship increases loyalty. Loyalty means repeat business. And that means longevity and success for your business.
