People might think that the intense military battles that arose in the 19th century were the toughest competition there was. But for business people, it is the continuous struggle for economic conquest in the marketplace. Businesses, even small ones, do their best to contend with each other in order to have a place on a pedestal.
Competition may be associated with crab mentality, wherein a business finds a way to bring the other down, but this is today’s nature of dealing with things in the business world. If put differently, a reality check. Facing this situation may be as stiff as board but you are left with one option. It is to compete in any way possible.
How To Deal With Business Competition
When you start your business, you already expected problems that come its way. However, this mentality should be cleared out from your head. You must keep a positive vibration and make sure that your business is doing good. One of the rough-and-ready ways to keep track of your business is to monitor it with customer feedback. Knowing what to do in order to succeed comes with what the consumers demand. If your company has negative clientele response on some aspects of your business structure, then better fix it before the worst case of downfall dawns on you as the entrepreneur.
You try to ask yourself these questions: How do I assess the feedback of my customers? What are the ways to identify the customer responses to my business in general? Are they satisfied with my present systematic service? What do they think of my business? These questions pose a critical importance to the company because these will tell the status of your business. Below are two of the operative ways to collate customer feedback.
- Questions, Comments and Suggestions. This method could be online through your company website. You could add a page wherein you can interact with your customers with their questions, comments and suggestions. In this way, you will be able to find the missing spots of your company. In an office, You could also put a suggestion box near the entrance/exit door.
- Connect with Customers. You could also personally set a time to contact your customers through phone, mail, or online. Talking with them through phone builds your company’s credibility. Similarly, sending freebies through mails. The most conducive is online with the help of social networking sites and hunt down every customer you have had. With this, you could ask them the answers you needed on the questions you asked yourself about awhile ago.
If you will be able to apply the given suggestions, you could assure yourself with regard to your business status. Is it good or is it bad? It is time to expand. Expanding to the point of getting the hearts of the marketplace through personal connection.
Author Bio: Chris Marentis writes from his 25 years experience in effective business marketing. Chris is active in Local Internet Marketing and Local SEO Marketing services to many companies at Surefire Social.
How do you deal with your business competitors? Do share your knowledge with us, via the comments section below.