How To Compete With Industry Leaders

How to Compete With Industry Leaders

If you’re a small to medium-size eCommerce business, and you’re struggling to compete with the leaders in your industry, we have a few strategies for you to try so that you can make your mark in the marketplace. 

  • Product knowledge. There’s no worse purchasing experience than trying to buy something from someone that doesn’t know anything about the product. If you’ve ever had to talk to a car salesman about the car you’re trying to buy, you know this same frustration. Being able to speak in great detail with the most discriminating customers about the products you sell can be enough to help you win a loyal following of the most devoted buyers. Be the expert in your field. 
  • Custom solutions. Consider offering customizations of the products you sell to meet the individualized needs of your customers. The big retailers only care about getting inventory in the door in a big box and shipping out orders in a little box. They don’t want to deal with anything that slows down their ability to ship packages out the door. Beat them at their own game, and offer customized solutions that meet a real need for your customers. 
  • Package deals and pricing. Be willing to make special deals for customers based on their needs when buying bundles or package deals. Help them buy the right accessories that perfectly pair with the other items in their order. This may require additional SKUs or a phone call with the customer, but the order value goes up, and you win a loyal customer in the process. 
  • Agility. Have the flexibility to meet quickly changing market needs faster than the big guys can. Large organizations usually require more time to change their workflow and processes as the market shifts. If you’re a smaller company, decisions and changes happen quicker, and your customers can reward you for that with their business. 
  • High touch service. Be willing to hold the customer’s hand throughout the entire buying process. Patience is a virtue, and that virtue is often tested during the sales process. Customers understand that, and want to work with people that are patient and kind as they become educated and make a buying decision. Make sure that your customers feel special, and they’ll reward you with repeat purchases and be more willing to increase their purchase value.
Be willing to hold your customer's hand throughout the entire buying process. Patience is a virtue, and that virtue is often tested during the sales process.
  • Compete against the market leaders’ weaknesses. If the industry leader is competing on price, beat them at quality or customer service. If the industry leader is competing by having a wide variety of products, compete by having a well-curated collection of products that perfectly complement each other. Find the weaknesses in the industry leaders, and beat them by being better.
  • Dominate a niche. Build customized and curated catalogs based on customer types. Find niches within your industry and cater directly to their needs. Be the subject matter expert within small groups of specialized users, and you’ll soon find you’ve become recognized as a knowledge leader and untouchable for customer satisfaction and empathy. 

If you’re working hard to grow your eCommerce business, we understand what you’re going through. We’ve helped many small and medium businesses as they’ve grown to become industry leaders and experts. Several of our clients came to us as startups or small family businesses, and now they’re operating at over $20 million in revenue.

We’d love to be a part of your success story. Contact us today to get your free consultation, and we’ll help you achieve Optimized eCommerce™. 

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