How To Grow Your Business in a Competitive Niche?

[moonchild]

Growing a business is incredibly hard, it's no news that 90% of business bankrupt or go out of business within 90 days, it's very hard to build, if you're in a competitive market, there are a lot of things to contend with ranging from price deregulation, competitors more funded than you etc, how can you win in these type of industry?

The number one strategy you can use to win in this type of industries is to actually focus on the customer, forget about your competitors and always think about how you can make your product stand out and how it can help the end user, a lot of small companies used this strategy and emerge successful and beat their competitors eg Myspace and Facebook, Google Forms and Tally.so etc

 

[Holicent]

My advice is to first differentiate by offering unique value propositions or special services. Build strong customer relationships through personalized experiences and excellent service. Use digital marketing to reach a wider audience and establish a strong online presence. Constantly develop new products or services to stay ahead. Expand your network by partnering with connecting businesses or influencers. Finally, prioritize customer feedback and adaptability to react quickly to market changes and maintain a competitive edge.