3 Reasons Why Your Competitors Are Winning More Business
It isn’t always easy to win business, especially if you work in an industry that’s highly competitive. You may notice via press announcements, media coverage and social media that your competitors are winning more business than you are there. While it’s demotivating and frustrating to see accounts you want to win going elsewhere, there are usually three key reasons for this.
1. They’re Using Modern Technology and Techniques
With the digital world constantly changing, it’s important for businesses of all sizes and specialities to continue to invest in modern technology and new techniques to keep pace with market developments.
If you’re not looking for new and improved ways of doing things including lead generation, you could be driving business to your competitors. Not only does using modern technology and techniques show potential customers that you’re developing alongside your industry, it also gives you new means by which to find and impress them.
2. They’re Actively Looking for More Business
When it comes to winning business, it isn’t simply a case of sitting back and letting customers come to you. Though that may work on the odd occasion, in order to see a boost in the amount of business you are winning, you need to be proactive about networking and new partnerships. If you’re not actively looking for more business, you’re unlikely to win much. Instead of being passive, take steps such as joining a local business club, setting up a referral incentive for existing customers, attending shows and exhibitions, holding open days, hosting question and answer sessions on social media and creating useful, downloadable content or lead gen materials for website visitors.
3. They’re Being Helped By Professionals
A lot of small and medium sized businesses seek the help of professionals as a way to win more business – although it’s not something they’ll shout about, this expert help behind the scenes can be invaluable. A business consultant or sales coach can bring in new methodologies, insights and resources that ignite client prospecting.
Professional assistance may also come in the form of a marketing agency or advertising consultant, who can better leverage tools such as Facebook ads or Google Ads to win more business from existing budgets.
At HiThrive, we offer business consultancy to small and medium sized businesses. If your competitors are winning more business and you’re not sure why, we can help. We offer a wide range of business consultancy services, including help with performance and strategy. To find out more, get in touch and contact HiThrive today.
