Competitive Industries: How Do You Stand Out?

How can your business stand out in a competitive industry? It can be hard to grab the attention of your audience when there are a lot of companies working in your market, so what exactly can you do to make yours memorable compared to the rest?

Business owners strategizing for success

The claims management market is a competitive one. Kamran Mirshahi is the director of Canary Claims, a leading PPI claims company. Founded in 2005, Kamran wanted to create a transparent and fair claims company. The mis-selling of PPI policies resulted in thousands — if not millions — of UK individuals demanding a refund from their bank or lender. This scandal caused a handful of PPI claims companies to set up operation and make claims on behalf of customers.

However, not all of these companies were as reputable as others. Many companies charged customers an upfront cost or high fee on successful claims. In the worst case scenario, the customer was scammed out of money and never received a refund or result from the bank.

The surge in claims companies offered plenty of choice for consumers, but this meant companies needed to work harder to get their audience’s attention. Kamran shares how he showed customers that he was the best choice for their PPI claims and how your business can stand out from the crowd in a busy industry.

Offer an Unbeatable Price

Your pricing is essential in a competitive industry. When you need to stand out from a lot of similar companies, offering something that delivers better value for money can go a long way with consumers. Whether this is a lower fee or free delivery, it can be the crucial deciding factor for a customer.

Create the Best Possible Website

Your website is so important. Cold calls were a big way PPI claims companies generated custom. But after an excessive amount of cold calls, individuals became tired of these. Kamran knew that this was not the best way to find customers, so he created a website to generate leads and inform people about how to reclaim PPI.

Your website is often the first place where people will judge your business. First impressions are important. Make it clear, concise and easy to use. Depending on your audience, your visitors might not be website-savvy, so make things easy to find and understand. Create bold calls to action, answer people’s questions and try to break down any barriers to them taking action.

Be Honest and Transparent

Establishing trust with your customers is vital for any business, and the best way to stand out from your competition is to be honest and show all of the reasons you’re the best in your industry.

Excessive cold calls and scam PPI claims companies caused many individuals to be wary of the industry at large. With this in mind, transparency was an essential factor for Kamran to address. On the website homepage (a key landing page), it states that Canary Claims does not charge upfront fees or cold call customers. This immediately addresses the concerns that potential customers may have and removes those as potential blockers to using the service.

If you know that a customer might have reservations about using your service, you need to tell them why they should trust you. Honesty is the best policy for any business, and the more you tell your customers at the beginning of the user journey, the most trust you can build within the relationship. Make your price and USP bold and clear — no cost should be hidden.

Doing stellar customer service

Customer Service Is Still Crucial

When visiting a shop, you expect a good level of customer service from employees. Product knowledge coupled with helpful and friendly staff leaves a positive impression of a business. The same should be replicated online or on the phone for any business. Customer service is still as important as ever.

According to HubSpot, 77% of customers share positive brand experiences with others. That kind of referral is critical for many businesses. Excellent customer service could also urge someone to leave a glowing review — which could then be read by thousands of potential customers online. For small businesses, this could mean the difference between growth and the death of a business.

No matter your industry, it’s possible to stand out from the competition. Look at what your competitors are doing and make sure everything you create is better, clearer and more useful to your audience.

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