If you look around in all industries from retail shops, restaurants to real estate companies, you will see handful of businesses doing great and majority of the businesses in any industry only surviving.
This always made me thinking what are the factors or what are the main points which successful businesses are doing to be great.
I am going to write some of the main points which I think successful businesses are focusing on.
MARKETING
Can you be successful in any business without marketing? I seriously doubt it.
In every industry new business is usually a life blood of running any successful company and you cannot achieve this without continuous strategic marketing.
Successful businesses are generally really good at marketing.
When I say marketing it is not necessary an expensive TV add or radio campaign. It could be as simple as word of mouth marketing or customer referrals.
This is the trickiest side of the marketing that you cannot assume which channel will work for you best when you are just starting out.
To find out best mix of marketing channel you have to try and test. The sooner you find the best marketing channel the sooner you will start growing.
THEY PUT THEIR CUSTOMER FIRST
It is a wide term, in simple words they listen to their customer needs and respond.
- Customers are their number one priority
- They always find new ways to enhance the user experience
- They take criticism positively and always learn from it
- They normally let customer try their products before purchase
DESIGN
Design is an important part of the puzzle, first impression do count and which you can create with visual design of your product, website , packaging etc.
Successful businesses do put some thought in the design of:
- Product Packaging
- Office Design
- Website Design
- Shop Front etc.
You get the idea…..
IRRESISTIBLE OFFERS
You are an online business or offline, generally competition is immense and increasing. Therefore, you can’t stand out without great offers.
Businesses who craft their products and offers well achieve more sales.
ORDER FULFILLMENT
This is the happiest stage for any business after all the hard work. You can’t afford to be lazy at this stage. This is the ideal moment for sell more if you manage to complete the order as per customer expectations.
Good businesses are really good to increase the order value at this stage with a special one time offer to their buyers.
INNOVATIVE
This is so important if you are just starting out.
Making a difference and be successful depends on the niche you select and if you are choosing an already saturated niche then what is your unique selling point?
You can certainly select competitive niche where people already are making money. If you are going to this route instead finding a niche with less competition then try to package the same product differently.
In simple words, with innovative products you can do well in shortest possible time.
Exceed Customer Expectation
If you know the art of exceeding customer expectation then you can win the customers for life.
And it is really easy especially if you are in service industry e.g.
Always provide something extra what is promised, commit less and deliver more. The moment you do this customer will feel appreciated and not only come back to you again and again plus refer your business to others as well.
Best form of marketing!
EXCELLENT CUSTOMER SERVICES
I would say customer survive is the face of any business. How often you go to the mall and end up buying something which you don’t really need, only because of the staff was so polite and helpful?
I can’t remember any business which is doing well don’t have excellent customer services.
TRAINING AND KNOWLEDGE OF THE INDUSTRY
Things are changing at a rapid pace in this day an age. Therefore, successful businesses always keep their staff well trained up to date with industry changes.
This is my observation on this matter, what are your thoughts? Feel free to share in the comments box below.
