Standing Out In The Marketplace

As a retailer or wholesaler, it is essential to stand out in the marketplace. What does that really mean, though? And how do you achieve it? For starters, you need to recognize what your competition is up to. This will allow you to understand what is actively going on in the marketplace. Stay current with new trends, new competition and new marketing strategies to keep your retail store or wholesale business shining brighter than the rest. In addition, listen to what your customers are saying. Their voice shops your business and others, so their opinion truly matters.

 A few things to help you achieve stand out among the rest include:

1. Recognize your strengths and weaknesses. Build off your strengths and work to improve your weaknesses. For example, if your store location is less than ideal, try to find ways to get people into your storefront without giving up on front window displays. You my need to reach beyond your store limits to draw in a crowd. It will take a combination strategy of your strengths and weaknesses to find a solution that is effective for your business goals. 

2. Dare to be different. If you know what your audience wants and you are reaching your sales goals, great. But chances are there is room to improve. Think outside of the box and challenge yourself to be different in your positioning against your competition. This exciting change of the norm will create a buzz that keeps customers talking. To add extra excitement, tell the media what it is that makes you so different and daring – giving them a chance to tell your story. If you are truly doing something unique and daring, it will be a story worth being told. For example, your store can hold an unexpected special event or introduce a surprising new product category that will reach a new set of customers. As a wholesaler, you may give a percentage of proceeds to a local charity… as well as donate time from all of your company’s employees.

3. Get your customers involved. Let your customers speak for you by telling the good, the bad and the ugly about your business. This will really help you get a real life perspective on what consumers think of your business. Don’t just listen to what they say, though, but react to it, as well. This may mean going outside your comfort zone – but that’s the goal. The changes you see as a result could be just what you need for your business.

4. Give personal attention to customers and employees both.A happy employee will return their feelings with great customer service. In a marketplace filled with lousy customer service, your business will stand out with employees and customers both if you are giving out personal, respected attention in all your communication outlets. As a small business owner, this type of respect goes even further since people seem to “talk” all the time about what they love and hate. It will have a rippling effect on your business in no time.

5. Stay up to date with the times.Too often stores and businesses get lost in their comfort zone from a time when they were cozy and happy – even if this time was 1990. Be realistic with what’s going on in the economy, with your competition, with your customers and then make it a point to stand out with time appropriate marketing strategies. This means do the expected – Twitter, Facebook, email marketing, special event and more – but also go above and beyond to really capture your consumer’s attention. How you go above and beyondwill depend on your unique business and customer.

Finally – pull it all together. Effectively executing each mentioned step above can help you stand out in the marketplace. Don’t ignore what your unique business can do in addition to the outlined details above, as well, to really thrive. And remember – make it a point to  re-address each of these issues time and time again to be consistent with the marketplace.

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