One of the common concerns that might crop up again and again in business is the pervasive fear that you’re always one or more steps behind your competitors. Perhaps your audiences not only view them as the superior option in terms of quality, but maybe also somehow in regard to cost-efficiency, values, customer experience, and any other category.
Basing your entire approach off how you feel as though you’re doing in comparison to your competitors (Behind Your Competitors) might not be a healthy or proactive way to go about running your business, but keeping an awareness on how you might compare to them in certain regards could help to inform your decision-making abilities at crucial junctions.
Technology
While this might be the most common way in which you’re falling behind, it’s perhaps one of the easiest areas to make up the difference in. It all depends on what the problem is. If the issue is structural or organizational, you might find that you can utilize the right technology in order to better coordinate your workforce. Using an API management tool can allow you to better wield the technology that you use for your website or other pages, for example, and refine your user experience through a superior method of oversight.
However, if you’re thinking about improving your business by integrating entirely new technologies like AI, for example, it’s worth considering how you plan on this fitting into your operations and what would have to change to make the most of it. Throwing a new technology into the mix isn’t guaranteed to change your position, especially without the right skills to use it.
Customer Experience
From the customer service that you provide to the actual product (or other service) itself, the customer experience is a vast and varied thing, making it slightly difficult to improve all at once.
Breaking it down naturally makes it easier, and it can also help you to understand where the problem really lies. It could be that weak customer service is the only thing holding your customer experience back as a whole, meaning that training your staff on how to deliver the best service possible could quickly become a priority. Alternatively, ensuring that you have a robust delivery service in place can prevent a lack of punctuality spoiling an otherwise positive transaction.
Your Values
Business values are a tricky thing—when used right, they can add to your brand personality and strengthen the bond between you and certain audiences. However, if this isn’t something that you implement properly, it can absolutely risk damaging your brand through a lack of trust or transparency. For example, doing what you can to combat climate change is a popular value in the modern business landscape due to how larger businesses are arguably the biggest contributors to the issue.
However, it’s not just enough to say that you’re committed to doing what you can in this area—using sustainable packaging and methods, as well as taking environmental actions like planting trees can showcase to your audiences that you’re serious about making a difference.
