Industry landscape and customer behaviors change, so it is important for a business to be as flexible as possible. One aspect ignored can leave a business at the mercy of its competitors. This begs the question, “How can businesses remain at the front of their industry?”

1. The Five-Point Strategy for
Better Business Leverage
PriceManager
300 Frank W Burr Blvd, Suite
40, Teaneck, NJ 07666
(800) 574-0130

2. Industry landscape and customer behaviors change, so it is important for a business to be as
flexible as possible. One aspect ignored can leave a business at the mercy of its competitors.
This begs the question, “How can businesses remain at the front of their industry?”
1. Clearing the client journey
Any business must have a clear direction of what they want their clients to do. Is increasing the
sales the priority? Do businesses need more leverage on local clients? Business owners should
map the client journey to refine their process and give their brand the right exposure.
2. Monitoring the competition
Tracking the activity of the competition is a key element in a strong business strategy. This
provides the company a look at how other businesses may be taking away customers. This is
especially true when a new competitor enters the market.
3. Analyzing the conversion funnel
The conversion funnel is one of the important metrics in sales. If there is a significant drop
from the usual conversion rate, this shows something is wrong with how the business is
handling its figures. Businesses can use Google Analytics to create their conversion funnels and
determine where they can start with their strategy changes.

3. 4. Providing an incentive
It's a business’ duty to provide customers with excellent service. Part of this involves
incentivizing and providing the customer more reasons to come back. Free product
shipments or early bird discounts for select items might just give customers the push they
are looking for.
5. Instilling a sense of urgency
Nothing will come out of a transaction if business owners wait for customers to make the
move. It's important to give customers the feeling of having the upper hand, so they will be
more compelled to buy. This doesn't mean businesses have to rush customers—it's all about
giving them the reason to make the choice now.
A few tweaks in a business strategy can make a big difference. Business owners must find
the balance between consistency and cost-effectiveness to accelerate their growth and keep
their head in the game.

4. RESOURCES:
http://pricemanager.com/competitor-price-tracking-software/
https://blog.kissmetrics.com/guide-to-optimizing-funnels/
http://www.entrepreneur.com/article/207362