In most industries, competition is fierce. Because of this, it is important to do things to stand out from the competition. Do you? Simply doing whatever everyone else is doing isn’t going to get you noticed, attract customers, or positively impact the bottom line.
True, it is important to adhere to industry standards in a lot of ways. If you’re a fast food chain, you need to have a drive thru lane like all your competitors. If you’re an apparel retailer, you need to have an e-commerce site like everyone else. These things are called points of parity.
However, where you really create value is through what are called points of difference. These things allow you to set yourself apart from the competition, get attention, and hopefully be successful. So, if your business is in a rut, think about what you can do that your competitors are not. If none of your rivals have a loyalty program, consider starting one. If nobody delivers, think about doing that. If everyone else sells the same products, try adding some new product lines that are unique and attention getting.
The point is…find a different reason for customers to want to come to you. Contests. Funny mascots. Different pricing schemes. Silly advertisements. The possibilities are endless. Just sit down and brainstorm what you could do that others do not. And ask your employees and customers. They may have some good insight that you did not think of.