5 Ways To Get Your Business Competitive Advantage

The ever-growing hospitality industry is crowded with competition. The fight is on to get your guests’ attention. These five steps can help you gain an advantage over your competition.

Real-Time Feedback

real time feedback

One of the quickest ways to gain a competitive advantage is to answer customers’ queries as fast as you can. Answering quickly sets the bar and engages them before they forget that they want to purchase from you or find somewhere else to stay. Give your potential customers the information they want when they want it.

Keeping them waiting for your answers gives them time to explore your competitors. Real-time feedback also signals to your target audience that they are special to you, that you take time to immediately address their concerns. 

This pre-purchase experience is an indicator of how well they’ll be treated when they buy from you. A quick reply is equated to quick customer service. A personalized welcome is as if they’ll get specialized treatment.

Storytelling Sells

Everyone loves a good story. 

Creating a story can instantly transform your brand’s marketing significantly. Using a narrative helps connect your brand to your target audience. Have your potential customers relate to your brand by promoting values that you and your customer have in common.

One of the best storytelling techniques is making your customer a hero and you’re there to help them achieve their happily ever after.

Here’s a wonderful example by Nike:

“Bring inspiration and innovation to every athlete* in the world. *If you have a body, you are an athlete.”

“Bring inspiration and innovation to every athlete* in the world. *If you have a body, you are an athlete.”

Creating an Experience over Benefits & Features

Always remember that you aren’t selling products or services. You’re selling them an experience.

Experiences are much more memorable and powerful. Increase your purchases by leveling up how you make your guests feel before buying, when they get the product, and the after-sales experience.

Most of your competitors will most likely have similar benefits and features as your product or services does. But what makes you unique is how your customers feel. 

Take Steve Jobs, when he introduced the original iPod he put it in a slogan “1000 songs in your pocket” instead of harping about its 5 GB hard drive.

benefits competitive advantage
Image from Help Scout

Be present everywhere

Out of sight, out of mind.

Creating a strong online presence for your brand builds your reputation and credibility. It reinforces what your brand offers to your customer, regardless of your size or niche. 

97% of consumers use the internet to find a company, according to Adaptive Marketing.

It enables customers to discover your brand before they are even aware of its existence, and it encourages them to learn about your reputation before making a purchase.

All of this knowledge will eventually play a part in the customer’s buying decision.

That is why it is important to have an online presence.

If you’re looking for something free, social media is your answer. Be present on all the social media platforms you can. Facebook, Twitter, Instagram, Pinterest, Tiktok, even Google my business are just a few that you should have a presence with.

Never let your target audience forget you. 

Relevance by personalization

personalization competitive advantage

Personalized brand marketing is the next big thing in marketing, if it isn’t already.

Personalized marketing is the application of a strategy through which the brand provides individualized content to guests through data collection.

There’s a lot of touchpoints you can bespoke for your customers. Ultimately, they want to be treated as people, not a faceless audience. Serving the right message to the right customer (at the right time, on the right platform) increases the effect of your message.

According to an Infosys survey, 86 percent of consumers say personalization influences their purchasing decisions in some way, and one-quarter say it influences their purchasing decisions “significantly.” For example, personalized emails have a 6.2 percent higher open rate than non-personalized emails.

Many companies aim to have fully personalized customer support because they recognize that it fosters loyalty and improves conversions.

Enable your customers to know that you are mindful of their needs without being intrusive.

While gaining a competitive advantage in the hospitality industry won’t happen overnight, implementing the ideas above will help your bookings grow.