Martin Lees posted May 22, 2020 7:43 AM
So the company i work for gains competitive advantage by the value it adds to its clients compared with its competitors. I work for a financial services company who helps financial advisers with their practice. Whilst others simply offer strategies and services that financial advisers may not be aware of, our company also offers marketing strategies to help get in front of new clients using better technology. This is unique and no other rival company offers this one stop shop so to speak. By offering something unique and different, we are able to separate ourselves from our competition (Sheetrit. 2017).
When covid started, our CEO received new feedback from clients. Clients suggested that they were struggling to meet with new customers. Typically Financial Advisers meet face to face and also conduct seminars to educate potential new clients. Our CEO realized that he could begin to lead the market segment by offering a solution that other similar companies had not. This was to solve this problem by adding marketing services to the other services already received as part of their paid for package.
The role for me in Human Resources was simple. We needed new staff with experience of Paid Social Media campaigns. This was our new strategy to get in front of those new clients. This strategy within Marketing we felt would be ideal to help our clients (Driver, 2019). This role was niche and needed focus. We found a new Director of Marketing with financial services experience and we have already started to see a profit to our new value-added services. We are ahead of our competition and thriving
Driver, S. (2019, January 14). Tips to Increase Sales with Social Media. Retrieved from https://www.businessnewsdaily.com/11219-use-social-media-increase-sales.html
Sheetrit, G. (2017, September 8). 5 ways to beat the competition. Retrieved from https://www.business.com/articles/5-ways-to-beat-competition/