How to Differentiate Your Business From the Competition
Whatever industry your business operates in chances are that it’s facing a big battle to be successful right now. With many families facing so many economic challenges, and people cutting right back on what they buy, it’s so tough to attract more customers. This climate makes it so tricky for companies to maintain their existing level of success.
Whatever industry your business operates in chances are that it’s facing a big battle to be successful right now. With many families facing so many economic challenges, and people cutting right back on what they buy, it’s so tough to attract more customers. This climate makes it so tricky for companies to maintain their existing level of success. It’s then even harder to face off the competition. This may leave you feeling confused about where to get to next in your business. You could be worried that your business will forever be in the shadow of your competition. Finding the most effective ways to stand out isn’t easy. But, you can make it happen. Here’s how:
Understand your competitors
Before you can differentiate your company from the competition you first need to properly understand who you’re up against. Carrying out a competitor analysis is a great start. From here you can dive deeper into developing your understanding of the current market. You’ll be able to compete so much more effectively when you do this.
Get some expert advice
Working on marketing strategies to get your business noticed can be tricky when you’re so immersed in your organization. Your perspective may be skewed and it’s hard to think objectively. So, when it comes to launching a new approach to marketing to differentiate your business, some external assistance is a great idea.
Choosing a marketing agency with a specialist knowledge of your industry is a great idea. For example, if you work in the plumbing industry, choosing an agency with Plumber Advertising knowledge is a good call. This specialist knowledge will give you a much better chance of helping your business to stand out against other local plumbing companies. The fresh ideas that are put forward by an external agency can breathe new life into your marketing strategy and ensure that your company’s elevated beyond its competitors.
Don’t stand still
Complacency can kill a business. Enjoying your business’s success is a great feeling. Being able to watch as your hard work starts to come all together is an amazing feeling. But, it can be so easy to slip into this comfortable situation and get yourself stuck. This puts you in a totally dangerous position. You risk losing your competitive advantage. Running a successful business takes continued work. There’s never any space to grow complacent when you want long-term success for your company.
To banish complacency, you need to do a few things. First up, you need to continue offering the best products and the most exemplary service to your customers. You can do this by collecting their feedback and monitoring their satisfaction levels. Continuing to innovate is also vital. Your products will soon become yesterday’s big news if you don’t keep improving them. Finally, you need to stay invested in your purpose. Keep reminding yourself of the ‘why.’ Why did you start your business and what did you want to achieve? Keep working toward this and you’ll stay well ahead of your competitors.
Good News Beauty Gurus...Sephora is Reopening!
Beauty lovers it is now your time to shine because Sephora is officially opening up its stores!
Finally, some positive news! Beauty lovers it is now your time to shine because Sephora is officially opening up its stores! Let’s discuss the info that really matters…the who, the when, and the where!
First up: The Who. Sephora is officially beginning its reopening phases since they were forced to shut down in mid-March due to the coronavirus pandemic. It’s been a long 3 months for beauty gurus, and I’m happy to share that we’re starting to see some form of normalcy! As states begin to get their groove back, Sephora is working on it too!
Next Up: The When. 70 stores will be reopening as of Friday May 22, 2020. New and improved safety procedures are being instilled into every Sephora. The, “Sephora Health and Hygiene Guidelines”, include almost fifty safety procedures as well as proper training for its employees. It may not be the average Sephora you were so used to before, but just remember, your safety is their highest priority! Line coordinators will be on guard, no testers allowed, social distance required, and a customer capacity will all be put into place for re-openings.
Lastly: The Where. States that are included in the first stage of reopening include: Colorado, Indiana, Idaho, Mississippi, Kansas, South Carolina, Tennessee, Texas, Utah, Georgia, Alaska, Arkansas, and Alabama. Don’t see your state? This is only the first step in reopening, so more states are sure to pop up in the future.
Sephora is keeping up with the daily heath procedures to ensure every persons safety. Deep cleaning throughout the store will take place every day. All customers and employees are required to wear face masks, and their employees will even have their temperature tested during their shifts. Hopefully I’ll be sharing more info on even more store openings soon!
Photo Credits:
https://community.sephora.com/t5/Customer-Support/As-we-start-to-reopen-some-stores-we-want-to-share-what-we-re/td-p/5369029
Report: Kaitlin Gallagher
Fashion and Stocks: Everything To Know Before Investing
As investors plan their next move when it comes to either buying or selling their stocks, the thought of buying a share towards a fashion company is often not considered.
As investors plan their next move when it comes to either buying or selling their stocks, the thought of buying a share towards a fashion company is often not considered. For those not familiar with the stock market, it is indexes of investments towards sharing ownership in a company. Technology companies and big brands such as Amazon, Tesla, Apple, Paypal, Shopify and more are all what these investors normally strive towards. But what about the fashion market and the constant growing of consumers everyday who rely on these companies? Some of the most successful fashion brands such as LuLuLemon is not only an expensive stock but it is at the top of the list for several fashion stocks. Ranging from yoga, loungewear, lifestyle and fitness, this stock has continued to grow to about 90% since last year. Another strong stock in this industry is Nike. Being such a popular and valuable apparel company, there is no doubt that they continue to sky-rocket every year when it comes to sales and revenue. Despite not being a cheap stock being priced at almost $100, it is inevitable that even the highest priced stocks will continue to dip in the midst of the pandemic.
Even luxury brands such as Burberry, Louis Vuitton, Christian Dior and more continue to remain steady in their sales and profit. The most important question regarding all of these brands is, are fashion stocks worth the price? It can be a risky investment due to the fact that a lot of people have been switching their shopping habits from fast fashion to more sustainable and ethical ways. It is okay to invest in a brand you know a lot about and consistently shop at but you need to be aware of the risks that you are taking when doing so. Some of the essential tips you should know is doing deep research on the brand itself. Look at their quality, how much people shop there, how much they make, gross margin, sales data, growth rates, earnings, and their competition.
If you invest into a fashion brand but then there is a competitor that can slide your stock off the market, then it will affect how much you’ve put into the stock. Once figuring out the research of the brand and their success, it is based on personal judgement whether you should make this investment or find another company.
Photo Sources: capital.com, currency.com, ig.com
Report: Pamela Valdez
Retail Stores Face COVID-19
How retail stores are facing closures and surviving via e-commerce - barely.
As the infectious COVID-19 continues to spread throughout the world, millions are being affected including families, the stock market and businesses. Some of the most popular and famous retail stores such Macy’s, Kate Spade, Coach, Victoria’s Secret, Apple, Urban Outfitters and more. Facing closures, changing certain policies and suspending returns, have all been some of the consequences faced by these major companies due to the coronavirus. It may be weeks, or even several months before stores will be able to open up once again. This raises the question, how will these stores survive via online shopping during this?
Retailers have been offering free delivery fees and raising their online sales to increase the attention of everyone at home with nothing much to do. Companies have even made the most of this pandemic by creating positive headlines for these sales such as the multi-channel retailer Missguided, “Plans that aren’t cancelled: Taking selfies in new clothes.” For those who own small businesses who cannot move to ecommerce, are still offering pick-ups for customers, no restaurant dining, and home deliveries. No one is sure of how soon the public will be able to return back to their previous lives of going out. For now, this remains as the new “norm” as this pandemic continues to affect thousands.
(Photo Credit: RetailTouchPoints.com, WGNTV.com, ABCNews.go.com)
Report: Pamela Valdez
At the rise of Covid-19 many of us first questioned the timeline of fashion week and would we see the regular calendar continue - the question weighed over many of us for months! It was refreshing to see design houses and designers across the globe take advantage of the uncertainty and plow into production mode - thus my interest in Jerri Reid New York - The Black Designer based in Brooklyn New York wow’d instagram with his latest collection paying homage to the Black Is King film which debuted earlier this year in July. I was taken aback at quick of a turn round the young designer produced and released his well crafted designs reflecting some of the films most memorable moments.