The statistics regarding startup success rates can be daunting. The fact is that most fail, though the reasons vary widely. That said, there are plenty of things that can be done to increase your chances of finding success. One of those is to help your startup stand out from your competitors. So how can you do this?
Offer Fantastic Customer Service
Your marketing is likely what attracted customers to your door, but what is it that convinces them to make a purchase from you instead of walking out your door and through the doors of your competitors? At least part of the answer is excellent customer service. When you really deliver on customer service, your customers feel like you appreciate them and that you value their time. They don’t feel like the depth of their wallet is the only thing that matters. Decide what quality customer service means to you and train your employees accordingly.
Reward Loyalty
You know what gets them through the doors and to make a purchase, but what about future purchases? The fact is that the ROI for loyal, repeat customers is far higher than that of new customers, though they certainly have their role to play in the success of a business as well. There are a lot of things that encourage customers to return, and one of them is a business’s willingness to reward loyalty. 71 percent of customers say a loyalty program is an integral part of their relationship with a brand. If you want to stand out, make sure you have a loyalty program that stands out too.
Keep Your Tech Updated
As a high-tech startup founder, your tech likely plays a major role in your business and its identity. As such, and for plenty of other reasons, keeping your tech updated will make a huge difference in how effective your startup is at standing out. At a bare minimum, you can hardly brand yourself as a high-tech business if you fail to keep up with trends in technology. Whether you’re using your tech to attract customers, make you more effective as a business at accomplishing various tasks, or both, it’s an integral part of your business and needs to be prioritized as such.
If you want your business to succeed, one of the things you must do is find ways to make it stand out. Your customer service, willingness to reward loyalty, and prioritization of your technology will help you create a brand that customers are more likely to find desirable and unique. Just remember to keep an eye on your competition as well. It’s hard to stand out if you are unfamiliar with what they’re doing.
Read this next: How to Tell if Your Startup Going to Succeed
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