Answer Review :: Haq Hai | Business Coaching in India | IILD

Q. How can i stand out from competition

: P Kumar | : 2018-01-15 | : competitionstandoutstrategycustomeracquisition

Reveal Answer

Standing out from your competition is critical to your company’s success. While most people understand the concept, far too many businesses fail to put it into practice

Deliver extraordinary service.

Think about how you can offer extremely extraordinary service that goes far beyond what your competitors are doing.

Address customer pain points. 

If you want to win customers over, a great way to do that is to alleviate their pain. 

Do business differently than your competitors.

If you want to stand out from your competitors, it pays to do business differently than they do. Finding and exploiting holes in their business model is a great way to set your company apart.

Create a cause marketing effort.

cause marketing is the idea of creating a partnership or relationship with a non-profit or cause. The idea is that the business lends its time, money and expertise to help promote the non-profit. This support helps the non-profit and the business also benefits by being affiliated with a worthy cause.

You can do this on a smaller, local level too.

Surprise and delight your customers.

Sometimes the smallest things can make the biggest impact, you’ll stand out and create raving fans.

There are plenty of additional ways your company can stand out – you can deliver extreme value, give something valuable away for free, create a unique partnership or build powerful communities.

Q. How do I recover old outstandings from Customers ?

: Suraj | : 2017-12-06 | : AccountOutstandingsGrowthBusinessCustomers

Reveal Answer

Huge overdue Debtors are a result of timely & irregular follow-up.  A monthly Standard Report has to be issued by the Accounts Department to the Sales Team.  This Report will highlight by Invoice, by Customer the total outstanding amount and the number of days overdue.  This report has to be reviewed by the Senior Management on a Monthly basis and identify persons responsible for the recovery of such overdue amounts. A monthly review and regular follow-up will help in considerable reduction of old outstanding.

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