It is frustrating to see that the other businesses that started like you are now doing a lot better. Their business started to take off and left yours behind. It is understandable if you feel that way, but don’t let it prevent you from moving forward.
You still have time to catch up, and anything can happen in a business. Besides, the market is so vast. Just because your competitors are doing well doesn’t mean you don’t stand a chance anymore. Start by understanding why you are far behind, and what they’re doing better than you.
1] They have a more efficient system
When you sell products online, it’s crucial that you have an efficient method. Make it easy for people to purchase items and receive them on time. If they find it hard to deal with your system, or if there are regular crashes, they won’t be patient. They will jump to other options where they feel more comfortable.
2] The prices are more reasonable
It doesn’t mean you need to drop all your prices now, but you need to evaluate them. Perhaps, they are way higher than what your competitors offer.
If so, you need to check if there’s a way for you to have enough profit still if you reduce the price; otherwise, you can start looking at other suppliers that allow you to manufacture your products without the need to increase the final price.
3] They have better customer representatives
Experiencing problems and other issues is common in any business. It’s how you deal with these problems that sets you apart from everyone else. If the company doesn’t have excellent customer service representatives dealing with complaints, people will feel terrible.
They will think that you don’t care about them, and you only respond when people decide to buy items from you. Train your customer service representatives and widen the platforms for people to raise their concerns.
4] They deliver products quickly
It helps if you send the items right away so that customers don’t need to wait; otherwise, they will get tired of waiting and decide to jump to other options.
5] There’s hope
Don’t feel bad that your competitors are way ahead of you. Eventually, you can change your system and improve the services you provide. Study your weaknesses, and you’ll find a way to entice your target customers to choose you.
Avoid thinking of it as a sprint all the time so that you won’t feel frustrated. Think of it as a marathon where you take your time until you reach the finish line at your own pace.
Study your competitors, but don’t feel bad if they’re ahead. Small changes, like the improvement of the delivery system, could help make your business stand out.