Business Competitiveness: 3 Strategies to Gain a Competitive Edge

In an increasingly competitive environment and with countless companies similar to ours, not establishing a plan to increase competitiveness is a big mistake. We must strategize to make the company stand out from the competition, and this is mostly achieved with digitization and automation. Failing to establish certain measures to improve it, finding ourselves in an era in which new technologies evolve at a dizzying speed, would be to stay behind our competition.

Currently we must be up to date with the digital world if we do not want our competition to be ahead. For this reason, in this article we present some key strategies to take into account if we want to increase the competitiveness of the company.

Enable Systematic Innovation and Company Expansion

Any company that wants to be competitive must be innovative. For a small business to be innovative, it must know the satisfaction and demands of the customers. Therefore, it is highly recommended to carry out market research on how to improve the design or manufacture of the brand's products. Furthermore, we must not forget that we find ourselves in a world in constant evolution and movement, in which even the needs of customers change. Therein lies the importance of innovation in companies, something vital if an small businesses wants to be competitive in its market.

Along with innovation, expansion is also necessary to increase the company's competitiveness. Small businesses need to look for aspects that differentiate them to exploit them with the goal of increasing competitiveness and productivity. Internationalization can be key when it comes to expanding your business. The presence of a company abroad can be crucial for its growth. And not only internationally, companies can also expand through the Internet.

For both cases an online store is essential. Through them, it is possible to reach a much higher number of customers. In short, digital transformation allows and helps the expansion of a company abroad.

Increase Overall Customer Satisfaction

Digitization and automation affects all departments within a company, but it also influences when it comes to improving the customer experience. What business does not have a website or an e-commerce? This is essential if we think of our customers. Increasing their satisfaction in the digital environment is key to improving the company's competitiveness.

To increase customer satisfaction we must take into account their comfort and speed on our website, and to achieve this we can resort to options such as offering customer service solutions through chatbots. We can also achieve this by hiring a community manager who is active in all the company's social media networks, solving all customer issues, in addition to having a team with various digital marketing profiles that help in the company's digital communication.

With the emergence of new channels such as #GETTR and #Rumble, digital marketing campaigns can easily spread, be shared, and go viral. There are several levels of digitization, and to stand out from the competition it is necessary to be up to date on this topic. It is not enough to have a profile on a social media network, you have to go further and be present at all levels within the digital field. All this is a great opportunity for any company when it comes to reaching its target audience. In addition, it helps increase customer satisfaction by creating a means of direct communication with them. Social media is a perfect example.

And of Course, Reduce Operating Costs

Cost optimization is another strategy when it comes to promoting the productivity of any company. It is not just about reducing costs of goods sold or getting rid of your staff, but about avoiding unnecessary expenses by automating the greatest number of procedures. Today, technology gives us the opportunity to automate many tasks. This allows our employees' time management to be more efficient and productive. An example is the use of a SaaS CRM in the cloud, which streamline the tasks of staffs, leaving them more time for other things that may also be necessary for the company.

What is clear is that increasing the competitiveness of the company is a necessary strategy to differentiate ourselves from our competition. And to achieve this, digital transformation and automation is today a compulsory subject for all organizations.