Every time when you provide a bad service to your customers, they won’t love you, your competitors do.
Every time your product fails to meet the customer expectations, they won’t love you, your competitors do.
Every time you fail to address a customer complaint, they won’t love you, your competitors do.
Every time you fail to come up with creative and innovative solutions for your customer’s problem, they won’t love you, your competitors do.
Every time your customer fails to reach a human agent on the customer service channels in time and hence gets frustrated, surely they won’t love you, your competitors do.
Every time your internal processes go out of sync with your business model, fail to be agile & flexible, it impacts your response time to service a customer, they won’t love you, your competitors do.
Every time your customer service representative fails to satisfactorily answer customer queries, they won’t love you, your competitors do.
The choice is yours!!!!!
- 80% companies say they deliver superior customer service, 8% of their customer say they do, they won’t love you, your competitors do.
- 91% of unhappy customers will not willingly do business with you again, they won’t love you, your competitors do
- 86% customers quit doing business with companies & switched due to bad services, if you were one of those companies, your customer won’t love you, and your competitors do.
There are some reasons why it is important to have competitors.
Teaches You New Skills
There is much to learn from your competitors. If you’re having difficulty in any particular area of your marketing, find competitors who are doing it well and learn from them. You don’t want to copy them, but there is nothing wrong with adopting certain practices into your own plan where it makes sense.
On the flip side, you can also identify where competitors are falling short, and be the one to satisfy that need. Mistakes are one of the best ways to learn, but who says you have to be the one to make the mistake? Look at online reviews and learn about what mistakes your competitors have made, so you can avoid making them in the first place.
It is important for companies to have competitors because it is through them that you can get new ideas and perspectives, learn how to stand out, and progressively grow your business. Use your competitors as a catalyst for change and watch your business succeed.
Opens Your Eyes to Improvement
Customers don’t always know what they need until they see it, and sometimes it’s a competitor that they see it. Loyal customers who want to continue utilizing your business will provide useful feedback on these needs. Instead of walking away because you don’t have what they need, customers can know what to ask for and what to request, based on what they see competitors providing.
Similarly, you might not know the next step in improving your services until you see a competitor do it, or until they do something that inspires a unique idea for your business. Competitors are useful for introducing new ideas and perspectives to your industry.
Provides Reassurance
The presence of competition means that customers have the option to choose either your business or another business. When there is competition, you know that customers are using your business not because you’re the only one out there, but because among the others out there, you appealed to them most.
Reveals Your Secret Sauce
You provide the same services as other companies but at a quicker pace, or with more personalization, or through a unique approach. Perhaps you provide one additional service that your competitors do not. Competition is important to your business because it enables you to identify your specific and unique traits that are appealing to customers. Identifying and harnessing these traits will enable you to market your business more effectively and bring in new customers.
Helps Customers More Quickly Identify You
Competitors aren’t always detracting from your business. In fact, at times competitors will actually help customers to more quickly assimilate information about your business in their head. If a potential customer stumbles upon your business online, they may not always know what you do, especially if it’s not obvious through your business name. customers can more quickly identify who you are and what you do.
Allows for Market Research
In the world of business, there will be instances in which a customer leaves you for a competitor, or leaves a competitor for you. When either of these instances occurs, learn about what specifically caused the customer to change businesses. Gathering this information enables you to better understand your target audience, better serve their needs, and make adjustments as necessary. It is important for companies to have competitors because they keep you on your toes in doing market research. Who knows, you may even find your niche market this way!
Conclusion:-
There is much to learn from your competitors.After a thorough investigation into the digital depths, you should have a solid understanding of where you and your competitors stand. Use your research to your advantage: learn how to be better! Run a better business, be a better member of your community, and have greater success online – however, you measure it.
Feel like a competitor is getting all the business in town? Learn from those who do it better, improve some things for those who do worse. Contact or email for more information at ntinbang.com.
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