The strategy to achieve brand unit sales growth versus a competitor involves three core pillars: enhancing product visibility, improving product offerings, and boosting customer loyalty.
To enhance product visibility, the strategy includes investing in online and offline advertising and collaborating with influencers to promote the brand. Additionally, participating in trade shows, improving in-store displays, and optimizing search engine marketing are crucial. For example, a clothing brand might launch a social media campaign showcasing customer testimonials and distributing product samples at popular events.
Improving product offerings involves conducting market research to identify customer needs and innovating new features based on feedback. This strategy also includes enhancing product quality, expanding the range, and offering limited-time specials. A smartphone company could, for instance, introduce customizable phone features and regularly monitor competitor products to stay competitive.
Boosting customer loyalty focuses on implementing loyalty programs, offering exclusive discounts, and providing exceptional customer service. Engaging through social media and developing personalized email campaigns are also important. For example, an online retailer could create a referral program to attract new customers while rewarding existing ones for testimonials and reviews.
The strategies
⛳️ Strategy 1: Enhance product visibility
- Invest in online and offline advertising campaigns
- Collaborate with influencers to promote the brand
- Participate in trade shows and industry events
- Improve in-store displays and signage
- Optimize search engine marketing
- Launch a social media marketing campaign
- Distribute product samples at key locations
- Create engaging content for brand awareness
- Use customer testimonials in marketing materials
- Ensure consistent branding across all platforms
⛳️ Strategy 2: Improve product offerings
- Conduct market research to identify customer needs
- Innovate new product features based on feedback
- Enhance the quality of existing products
- Expand the product range to cover more segments
- Offer limited-time special editions
- Provide customisation options
- Maintain competitive pricing
- Create bundle deals to increase average purchase value
- Collaborate with brands for co-branded products
- Monitor competitor products and adapt accordingly
⛳️ Strategy 3: Boost customer loyalty
- Implement a customer loyalty programme
- Offer exclusive discounts to repeat customers
- Provide exceptional customer service
- Create a referral programme
- Engage with customers through social media
- Solicit and act on customer feedback
- Develop personalised email marketing campaigns
- Host exclusive events for loyal customers
- Reward customers for online reviews and testimonials
- Ensure timely and efficient order fulfilment
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
