Entering a market often means joining a group of companies that have been there for many years. Acquiring regular customers and gaining their trust is quite difficult. So if you're starting out, it's worth providing your customers with something special. Standing out with something at the start can be an added value that your target group will appreciate.
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What is extra value for potential customers?
Companies that enter the market with a product or service decide on various forms of promotion. The most common are free deliveries on orders, first month's subscription for free, or attractive conditions for new users. All this builds the users' trust in the brand and increases their awareness of its activities.
It's exactly the same situation as when you go to a party. Wanting to look great among your friends, you buy a bottle of good wine and sweets. In business, the principle is very similar. That bottle of wine can be free delivery, a discount on next purchases, or many other forms of promotion.
A great example is Apple, which for several years has been trying to compete with streaming services that offer movies and series. Their Apple TV+ service was, until recently, free for 12 months to anyone who bought a new device from the company. This is a very competitive offer compared to those available on the market.
Build customer loyalty to your brand
Offering customers long-lasting promotions also inspires brand loyalty. Meeting the customer's needs for an extended period of time and on favourable terms can be an incentive for a continued relationship. Amazon proposed a similar policy when opening up to the Polish market. To compete with local auction services and popular streaming services, the company has prepared a special offer. For 49 PLN (ca. 12.5 USD), users receive free and fast shipping for a year, access to Prime Video and Prime Gaming and attractive promotions. It's a bold move that could perhaps herald a change in the market leader's position.
Offer extra value through a mobile app
Loyalty programmes can also affect the positioning of your business. Many well-known companies such as Sephora, Starbucks or Adidas are choosing this solution. Some of them rely on mobile app development to gain an extra promotional channel. With notifications about your offer for app users, you can get customers engaged. Remember, the best added value is that which meets the needs of your customers. Pay close attention to their feedback and try to respond to it before your competitors do.
See also the other parts of the series
Step 1: Define your target group
Step 2: Stand out from the crowd