running a business

Running a business can be difficult and stressful, especially if you aren’t sure if it’s doing well. There are many ways to run a business, but all of them have a few things in common. If you aren’t doing each of those things constantly, then your business won’t survive for very long. Here are the three keys to keeping your business alive.

Focus on Innovation

There are many companies out there that focus on the same services and products. However, the only companies that make their way are the ones that focus on innovation. When your company finds a new method for providing a proven service that your customers need, you develop a unique value proposition that draws in customers and promotes customer loyalty.

For example, grocery stores offer the same basic service — providing a source of quality food products and related services. You can go to any grocery store and buy the food items that you need. However, the grocery stores that are successful are the ones that differentiate themselves through a unique experience. Publix, Whole Foods, Fresh Market, Piggly Wiggly, Food Lion, ShopRite, and Kroger all offer similar products but through unique experiences that customers use to decide which store they prefer.

You have to look for new ways to innovate so that your company stands out from all of the rest. Home delivery is the latest innovation. Customers are looking for ways that make the shopping more convenient, and home delivery eliminates the shopping cart entirely.

Market Your Innovations

When you find a set of innovations that make your company unique, you need to find ways to market your innovations. Every company must invest in marketing to build a customer base. Marketing helps you reach potential customers and teach them about your innovations and value propositions, which lets them decide if they want to take advantage of your business. When they do, your company begins to generate profits and brand loyalty.

Marketing doesn’t have to be complicated to be effective. Advertising on social media sites like Facebook can be effective ways of reaching a large number of potential customers with manageable financial and time costs. Grocery stores use email marketing, social media marketing, and advertising every week on their specials, which helps customers understand what new items and sales are available. Your company must find a way to let your customers know what new innovations you’ve come up with in order to encourage them to return to your store.

Start with your store database. There are many customers who want to hear from you. Learn how to extract your data in order to communicate with your clients more effectively.

Listen to Your Customers

One thing that all successful companies do is listen to their customers. Your customers are often the best source of information about how your company could be better. They’re deeply involved in your company’s customer experience and have insights from a unique perspective. By listening to what your customers have to say, you can find innovations that your customers will appreciate.

There are many ways to talk to your customers. The easiest method is to approach them when they’re in your store. Another common method is to send out questionnaires and surveys through an email subscription list. The results can be collected when your customer is ready and you can use technology to analyze the data quickly. There are plenty of technologies like Survey Monkey that can help you connect with your customers.

You’ve put a lot of time and effort into starting and growing your business. However, you have to start working toward ways of maintaining it since your competitors are constantly looking for ways to capture your inactive clients. Make, find, serve, and keep your business’s mantra, as well as use these tips to refine your company’s operations and ensure that it can survive.

To kick off the podcast we have speaker, sales expert, and CEO of a multi-million dollar business: Bill Wooditch – you don’t want to miss this! How can we prepare for a world that doesn’t yet exist? By always moving forward. Bill and I discuss how to differentiate yourself, transparency, and being frictionless.

Differentiate or die

Competition in the business world is brutal! There are so many brands out there competing for the same customers. If you want to strive as a business, then you need to make sure that you stand out from the crowd. You can’t be outstanding without standing out.

Luckily, there are steps that you can take to help you be more competitive and also help your company grow to meet the ever-changing needs and demand of today’s customers.

Here are some steps that your business can take to win!

Be Maniacal About Customer Service

You can always improve your customer service. Most businesses know that customer service is important, but not every business takes steps to keep improving. Your customer database is your lifeline and the only reason you’re in business, take care of it as if it was your most valuable asset. You have to give your customers a compelling reason to stay with you or else they will move on to the most attractive alternative.

The responsibility of today’s leader is to prepare their staff and to create an environment where excellence is the minimum standard. Train your staff to Think Like a Customer (TLC). What would they want to happen in certain situations? How could a specific situation be improved? Make sure that you’re working to improve customer relations during both the good and bad times in your business life. This will help set you apart from other competitors.

Be an Industry Leader

You can also stand out by being an industry leader. You want to be the brand and resource that both customers and other companies look to for advice. Are you up to date on industry news and trends? If not, now is the time to start. As you build more credibility in your niche, you will be known as an industry leader. It proves that you know what you’re talking about. Once you establish your brand as an industry expert, you’ll gain trust and more customers will choose you over competitors.

Be Willing to Learn New Skills and Offer New Services From an Outside Perspective

The problem with most leaders is that they seek guidance from similar people from similar backgrounds and as a result, they come up with similar solutions. These solutions are usually offered from a narrow perspective.

Your customers are always looking for new offerings and new solutions to their problems, and they’re not restricted by such constraints. You can help them by making sure your brand evolves. When was the last time that you learned a new skill or offered a new product or service? Create, don’t compete!

Take some time to identify what your customers need. Look carefully at your current offerings and find ways to make them even better! This can help you attract loyal customers and can also make it possible to increase your sales. There is always something new to learn. Why not be the brand that innovates it?

Finally, Be Willing to Find Ways to Truly Be Unique

Try your best to differentiate your business, your brand, and your company. The best companies find solutions to problems that the customers didn’t even know existed. Today’s business environment requires you to see around corners and anticipate a client’s needs in advance, moving away from being reactive to a culture of being proactive. Once you give yourself this challenge, you’ll never look at your business the same way. Remember, to lead is to bleed. No one said it would be easy, but it will be worth it.

Take steps to stand out so that you can learn and grow as a company and always meet the needs of your customers. For more helpful business tips, Brian Benstock offers helpful guidance worth checking out.

Can you imagine the day when your customers can ask their Google Assistant to schedule their car for service? Or if their car is ready to be picked up from your service department? Well, that day is here for Brian Benstock, Vice President add General Manager of Paragon Honda who’s group has developed this exciting new technology.

READ THE FULL ARTICLE HERE.

Honda Paragon in Queens NY, is billed as the “largest certified pre-owned Honda dealership in the world.” Despite Paragon’s title, Brian Benstock, the dealership’s general manager and VP, admits that the notion of a car buyer going to showroom to make a purchase is “outdated.”

While most people still don’t buy cars online, the digital experience is clearly central to the automotive purchase process: about 86 percent of prospective car buyers conduct online research before deciding to visit a local dealership, according to new research from digital marketing agency Adtaxi.

READ THE FULL ARTICLE HERE.

Pharmacies, eye doctors, hair and nail salons and/or fast food joints in roughly 250 Walmart locations are getting a new neighbor as digital automotive marketplace CarSaver expands a car-buying program with the retail giant and moves in its kiosks.

Read the full article HERE.

 

Paragon Honda, Honda’s largest certified pre-owned dealer, in partnership with its agency Team Velocity, is transforming the way it assists its customers, leveraging Google’s advanced technology and measurement to take the friction out of vehicle service and maintenance.

Read the full article HERE.

Brian Benstock believes Honda’s product lineup has what it takes to get the automaker through potentially bumpy times ahead.

Stagnating industry sales and rising interest rates will present challenges to dealers of all stripes.

Read the FULL article here.

“The whole notion of having to come to a dealership for service is outdated,” says Brian Benstock, general manager and VP at Paragon Honda, the largest certified pre-owned Honda dealership in the world. “If a customer doesn’t want to set foot in the dealership, they shouldn’t have to.”

Read the FULL article here.