For over 10 years, I have had the privilege of working as a consultant for some of the best companies in Nigeria. In that time, I have become fascinated with those companies, large and small, that are able not only to achieve success, but sustain that success over time and in such a way that they truly stand out as market leaders.
There are lessons to be learned from these companies: lessons that can be immediately applied to your business, whether you are in a large company or are a one-man operation. Failure to follow these principles usually leads to the commoditization of your business.
Until you deliver a product or service that is difficult to replace, you will continue to be seen as a commodity, and you will be forced to compete on price.
I have enumerated the principles that will help you create the compelling customer experience required to win in today’s marketplace.
They do the hard things
Becoming a market leader begins with a conscious decision to take your business to the next level of performance or close the doors and do something else. The most surprising lesson of all is that you can achieve extraordinary success by simply doing what other people are not willing to do.
They define the value they seek to provide
To lead effectively, a winning company must define itself, not in terms of its product or services, but in terms of the value that is provided to their customers. These companies have a powerful drive to serve a larger and more significant purpose than just making money.
Consistent Market leaders are always willing to let go of what used to work. They are proactive about innovation and maintain a keen sense of competition. They recognize that past success is a seductive, almost irresistible force and constantly encourage their employees to look for the next great idea.
They build strong brands
Market leaders build, protect and communicate strong brands. Your brand is who you are, what you promise, and your ability and willingness to keep that promise. Your brand is what your current and potential customers think of your business.
They build lifelong customer loyalty
Market leaders get closer to the customer than anyone. They are dedicated to winning and keeping loyal customers for life. They consistently strive to know more about their target customer and they work on emotionally connecting with the customer better than anyone else.
They consistently achieve customer expectations
Market leaders consistently strive to understand and achieve customer expectations. They understand that customers constantly compare you to other service providers. Market leaders understand that consistency of performance can be the most powerful differentiator of all.
You too can build a Market leading business
In this article, we have outlined some of the oldest, most basic business principles. It is now up to you to make them the foundation for a successful company.
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