4 free competitive strategies for your business
Abraham Lincoln is often quoted as saying, “The best way to predict the future is to create it”. Google is certainly reaping the benefits of such an adage, but what if your company isn’t worth $120.9 billion (2018) ?
What steps can you take to boost your chances of success?
Play to your strengths
Many companies start out with one big idea – solving a problem or meeting a need. The most successful are willing to change with the times and seize opportunities as they arise. Great examples of this are Dropbox and Slack.
Originally conceived as a game that failed to catch on, Slack makers (Cal Henderson, pictured) later re-launched it as a chat app to take advantage of social media adoption. If you can be open-minded enough to see what your customers value about your product or services, even if that isn’t what you originally had in mind, you’re well on your way to future proof.
Who or what is the current voice of authority in your industry? Could it be you? As businesses have become more customer-centric they’ve realized how important it is to build trust first and then sell. Collaborative platforms like Lynda.com, Udemy and Skillshare have made it easier than ever to position yourself as a leader rather than a follower.
Companies offering online courses not only develop niche audiences but build loyalty with existing customers too. If you don’t have a product to showcase, you could offer best practice training for developers or marketers or any other group that might value your services. An additional benefit here is the extra visibility you’ll receive, which brings customers and helps recruitment since we all want to work for brands with kudos.
Even if you’re not ready to offer an online course, you might consider volunteering your services to local start-up hubs, such as Entrepreneurial Spark or CodeBase. Mentoring or joining forces with community initiatives and charities are great for building brand recognition and encouraging a team mentality. Companies valued by their local market have staying power.
Be ready to react
Those who have a plan or at least a team ready to produce one when something big happens, (like Brexit), have realized the value of opinion. Taking a stance will not only distinguish you from the competition but also make you visible to new audiences.
Rather than waiting for news to break you can proactively monitor emerging trends, using sites like Digital Trends, Buzzfeed and Buzzsumo. In the same vein, look at the phrases the autofeed suggests when you search for a topic on youtube. Such clues provide a constant source of inspiration – keeping your readable and shareable.
Smart companies reinvent the suggestions box
Idea sharing is the simplest way to keep your business moving. Denholm works across industries and with influencer bodies such as the Marketing Society to ensure we’re always better connected. What could we do for you?
Talk to Denholm
We are a search, recruitment and employer brand consultancy that specialises in commercial marketing, sales & digital opportunities. If you'd like to find out more, call us on 0131 554 6191 or email email@example.com.