7 Secrets to Help Your Startup Thrive in Spite of Strong Competition
Today anyone can come up with a startup and enter the world of entrepreneurship. With the formation of a digital marketplace, things are quite simplified but, beating the competition and thriving in there is what matters.
Therefore, it has become important for them to stand out in the crowd and make their startup look different from that of others.
So now the question arises like how can you differentiate your startup from that of others? How can you make it stand out of the crowd?
The top 7 secret tips that I have mentioned below will help you with the task.
- Finding solution for people’s problem
Many a time it happens that companies come up with products which do not address people’s problems. There are a number of products available in the market which are of no use to the people, for example, diet water, air conditioned shoes, etc.
Such products consume your money and come up with no evident solution. Most of the time you will feel that you can simply have a normal life without those products.
So before you come up with an idea or invention, it is necessary to be sure that it will solve the problem of your customers. Moreover, applying right marketing strategy will help you take your idea so far.
“We cannot solve our problems with the same thinking we used when we created them.” – Albert Einstein
- Gearing up with content marketing
Today many businesses are on different social media platforms but, they have not used the platform to apply the lessons of content marketing. By using right content marketing strategy you will be able to connect with social media users and share important information.
Practically, this will not help you get more sales initially but, you will definitely win the confidence of the readers and establish yourself as an expert in the market. People will notice you and this will increase the chance of future sales.
So if your competitors are lacking behind in content marketing, you will be able to stir up the marketplace and gain attention.
“You need to create ridiculously good content – content that is useful, enjoyable and inspired.” – Ann Handley
- Strong customer service
A good number of online businesses feel that there is no need to have a dedicated customer service and so they don’t feel the need to spend a budget on it.
For any business, whether it is online or in-store, it definitely needs customer service to address customer queries quickly, to encourage customers to write a review and even act according to the customer reviews.
Being a startup with less workforce, you can handle the work on your own, or else, if you are flooded with responsibilities, you can hire someone for the task.
“Coming together is a beginning. Keeping together is progress. Working together is success.”
– Henry Ford
- Individuate the product
Are you planning to come up with a product that already exists in the market? Then before you do so understand the marketplace properly and see what already exist there. How are you going to differentiate yours from the rest? Why will people prefer your product?
Once you will find answers to these questions you will have a better idea about how you are going to carry out the marketing campaign. You will be able to address the issues and represent your product as the answer to those problems.
“Never look back unless you are planning to go that way.” – Henry David Thoreau
- Find the right marketplace
There are a number of good places where you can sell your items. Today most of such marketplaces are flooded with products and so it can become quite difficult to stand out of the crowd.
Another best way is to sell your product on different platforms without a selling fee through a common interface. This way you can keep on updating the information and even change the products when needed.
Check for such channels where you can easily sell your products and boost the growth of the startup.
I’ve always been in the right place and time. Of course, I steered myself there. – Bob Hope
- Reach your customers
Once people used to search for companies and reach out their products. With time things have changed. Today, it has become a challenge for the startups to find and reach their potential customers and engage with them.
So in short, this simply means that you have to be alert about the activities of your potential customers in the real and online world.
“Efficiency is doing things right; effectiveness is doing the right things.” – Peter Drucker
You need to market your brand and advertise your products where your customers are and this increases the chances to get noticed. If you are not doing it, you are simply making efforts that will not benefit you.
- Deliver on time
One of the important things that startups should keep in mind is everything will only turn out to be effective if you deliver your products on time. Spending all your energy on marketing and failing to ship on time can cost your business. Remember that there are a number of options out there for your customers to get the product instantly so they are not going to wait for you.
Unless and until your products are handmade or personalized as per customer requirements, it should not take much time. If you take more time to ship regular products available in the market you are going to build up a bad name. It would be better to give away the upfront time that you need to deliver the products and make sure you stick to it.
Remember that time is money. – Benjamin Franklin
Proper planning and right focus can help any startup to grow and succeed. Just understand your business and try to solve the issues that are coming your way. You will be surprised how far it can take you!
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