Market positioning and competitor differentiation will be a significant factor for business success in 2019.
Figures from HMRC show a staggering 650,000 new companies were formed in the UK during 2016. And yet during the same period, as many as 250,000 companies ceased trading, which is a 14% increase on the year before. As we may gauge from these figures, the challenge isn’t setting up in business, it’s staying in business that presents the greatest challenge for UK enterprise.
The current economic climate presents challenging complexities and exciting opportunities in equal measure, yet market saturation presents potential threats from all angles.
Your competitors are growing in numbers
How can you stand out?
Studies show that by 2020, customer experience will overtake both product and price as the key brand differentiator.
Source: WalkerInfo.
The relationship business
Brands that are willing and able to provide clear value to customers, and take the time to develop deeper connections within their target market have significant advantages in the face of increased competition and market saturation.
Brands of the future must be in the business of relationships, not just the business of sales. So, while new businesses are fighting for growth, established players can place their attention on the market share they already enjoy.
How can we help?
If you're looking for ways to develop your business relationships, corporate gifting is a fantastic way to start and we offer a huge range of options to suit your personality and budget.