It is easy for a small business to go under in a competitive industry with thousands of businesses offering services and products similar to yours. In fact, statistics state that 9 out 10 startups end up failing. To stay afloat, you need to implement effective strategies to stand out from the crowd. Here are a few ways to help your business achieve a competitive edge.
In today’s modern society, people worldwide are standing up to inequality and demanding that organizations do the same too. Gone are the days where people would stay quiet when they see injustice in the world, and rightly so. With ‘woke’ culture on the rise, businesses need to do the right thing and take a stand too. As a business owner, you need to make sure you lead your business with an inclusive leadership approach. In other words, your company values should include diversity, equity, and inclusion. The Kelley School of Business offers an online certificate in Inclusive Leadership that will help your business stand out in the 21st century. This course will not only help you become a better business owner, but it will attract a wider talent pool of candidates when you need to grow your numbers.
Strengthen Your Online Presence
Did you know that over three billion people across the globe use social media? With that being said, strengthening your social media presence is a must if you want to be seen. Social media is a great tool for small businesses to build their brand, raise awareness, and engage consumers. Online platforms can be used for social interactions with a vast group of people and to build your customer base. You can also use it to answer queries and provide up-to-date information about your company. To make good use of social media, always ensure you have a regular stream of quality content flowing on your platform. Your content and graphics need to be on point. In other words, make sure you only post visually appealing images, well-thought-out messages, and high-resolution videos that flow well. You want to secure a viewer’s attention and get them talking about your brand and spreading the word to others.
Improve Your Website
Nowadays, many customers search for goods and services online. 80 percent of consumers visit a business website before making a purchase or going in store. This means that businesses without a professional website could be missing out on a lot of custom. A professional website should be easy to scroll through and attractive to look at. For credibility, your website should always contain relevant and up-to-date information about your business. If you are not particularly tech-savvy, either educate yourself on improving your website or delegating the job to a professional. The job of creating and maintaining your company’s website can be easily outsourced to a third-party vendor. Outsourcing this function may sound excessive, but it will allow you to focus on other aspects of your business.