How to get ahead of your competition in 2023

Business Tips - December 22, 2022

We already know that most of your resolutions for 2023 are about your business. For most business owners, the secret to the success they are looking for is beating their competition and standing out.

How do you stand out from the crowd and drive customers to your business in a country like Nigeria, where everyone seems to be doing the same thing you’re doing? We’ll tell you how:

1. Deliver exceptional services.

Delivering great service is more than just flashing a smile when you close a deal. It’s going out of your way to discover the problems your customers face and ensuring that the process of doing business with you is seamless and stress-free. Look at your competition. What are they doing that could be improved? There’s your answer. When you truly consider the customer’s feelings and treat them like royalty, you can expect a sale and a referral in the nearest future.  

2. Ask for feedback.

Most business owners forget about their customers the second they leave their establishment. Anyone dominating in their industry knows that the most important part of every sales process is what you do after the deal is complete. Keep your business name on your customers’ tongues by calling them afterwards to ask about their experience with you. Ask for ways to improve and sneak in a request for them to tell their friends and families. We can promise that by the following day, you’ll have a line of new customers ready to do business with you.

3. Invest in marketing.

Marketing is a very underrated part of running a business in Nigeria. Investing in the right marketing usually is all your business needs to become a global brand. In the way of beating your competition, marketing lets your audience know why you’re the best business. Marketing identifies the best part parts of your business and what it offers. It then screams these things so people hear about your business and pay attention. It also does something meaningful for your business to remain relevant: it builds a relationship between you and your customers. 

4. If you can’t beat them, lead them. 

Partnerships are essential in business. They are great when you know that your business could use some assistance in dealing with a customer’s needs. Yet partnerships won’t get your business to the top. To truly stand out, you must use partnerships as a tool to build relationships with your competitors. Once you’ve built that relationship, show your competition that you are more experienced, professional and successful. This turns your competition from rivals to fans. If done correctly, when big clients come looking for the best business around, everyone will be pointing in your direction, even the competition. 

2023 is another year for others, but for you, it’s another chance to make your business world-class. Remember that as you’re working to beat your competition, ensure your business maintains a premium standard and you never forget the customers that brought it this far.

At Moniepoint, we believe in your dreams. Cheers to a great 2023!

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