How do you stand apart from your competitors?
Understanding your position in the marketplace is key to growth AND retaining your current customers!
Here are my favorite ways to help inform your positioning:
Conduct a Competitive Review - Look at your competitor's website, social platforms, called the main phone number, go through the customer experience they offer, look at the language they use and imagery. Understand their pricing and product or service features.
Customer Research - It’s critical to understand why your customers love you and/or keep purchasing your product or service. Understand this in THEIR language - not insider speak. What is the pain point you are helping? And what are their future needs?
General Audience Research - Talk to non-customers too. Understand why they don’t use you or why they use something else instead of your product or service.
Once you have this information it’s much easier to see where you excel and what you’re missing or need to build upon.
I had a client who thought their pricing was the sticking factor when a serious portion of the stickiness was their top-rated customer support! This was a greater factor in retention.
What else do you do to understand your marketplace?
