A competitive advantage can be gained by offering your clients best product or services, either by offering less prices or by giving value addition in terms of convenience or dealing comfort. Empathising with your clients is the only way you can figure out these advantage points for your business. DESIGN your thinking process! Put yourself in your client’s shoes to pin point the pain points. Offer 360-degree service, so that they have only one point-of-contact that gives them complete service. This will save their time and energy, possibility is, in such cases they might overlook the slightly elevated costs!
Widening the scope of your business activities is the best way to offer more. The strategies that I am suggestingare designed to seek competitive.Finding out these client pain points and addressing them with holistic approach can not be an automated process. It is a human thing! If I am a client, while taking my buying decision, I will identify the facts that matter to me the most using my past experience. Compare all the options available in the market, and then choose the company, which offers me more advantages.
Let’s apply this concept of ‘competitive advantage’ to the field of blogging. Some blogs receive more attention as compared to others on the same niche. Note that I am using the term ‘attention’, not ‘traffic’! As traffic is not the only measure, to gauge a blog’s success. The popularity of a blog can be measuredon the number of itsconstant readers (subscribers).
Now that we know what competitive advantage means, we should think about how to have one. In the world of business, it emerges from the differentiating factors of their approach, product or services. It’s all about your business idea, implementation techniques and marketing strategies. Stand apart amongst your business community, offer something that they are not able to give, keep your knowledge updated and try innovative ideas on your production and marketing front so that you are the name in the market, which is hard to replace and hard to ignore. Develop competitive intelligence!
How do we tap this field? The answer boils down to three basic steps:
1) Gather relevant data
2) Have an in-depth data analysis
3) Interpret the results
4) Plan your strategy
As long as we as a business want to improve, grow, and adapt, we can definitely scale. It is always good to question business tactics. Sometimes the answers may surprise us,and sometimes they may inspire us!
So no, it’s not all about an unhealthy competition. It’sabout raising our standards to stand amongst them.
It’s about interest, progressiveness, anenthusiasm to learn new things. Andin the digital world of artificial intelligence, competitive intelligence can give us a competitive advantage!