So, the biggest problem when running a business is usually not about the technical difficulties of finding what type of business you should run, the name, the logo and stuff, but how to deal with your brands’ competitors.Usually, your competitors would look for a way to distinguish their brand with yours, by applying and implementing strategies that can help their customers remember their brand.
Raising brand awareness is important because countless similar or even same products are being sold every second, and leading against existing brands without raising awareness is almost impossible.
Thus, new emerging brands are supposed to create awareness before actually hoping for anybody to buy their products. There are several ways of creating awareness on your brand, and here are the 3 tips on winning the competition against existing brands:
1. Be convenient.
Life is already hectic, and usually, people would look for the easiest, convenient way to completing or purchasing something. Here’s what you can do; you can be more convenient than your competitors by offering what your competitors can’t do or don’t have, and that way people will prefer your brand than any other brands. For example; if your competitor can finish a service in 2 weeks, you can attract customers by offering to finish the exactly same service only in a week.
Related: Can Anything be Branded?
2. Add values.
When asked, people can barely tell the difference between a Coke and a Pepsi. Then, why do people prefer Coke over Pepsi? It’s about the value Coca-Cola offers that Pepsi doesn’t. Share a Coke campaign is one of the values Pepsi doesn’t have.
It doesn’t seem very important, but in fact, it is valid for Coke – customers like being given attention, and you should think of something your customers would like to have that your competitors don’t offer.
3. Have a better price.
You should always look at the existing prices your competitors put for their products as a comparison. If the quality of your products is more or less the same as your competitor, you can put the price lower than your competitor.
But, be careful not to create a ‘low quality’ image by putting a lower price. Or, you can also offer your products in a bundle that can attract customers. The principle is, “If I could pay less for a product of the same quality, why should I pay more?”
Your brand’s behavior on the market affects your prospective customers’ buying behavior too. Winning a competition isn’t always about getting the higher amount of sales, but it’s about getting the higher amount of love from your customers.
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