Tips to Stand Out in a Highly Competitive Asian Market
Everyone is looking for ideas to make more money. At the top of the business world stands the Asian businessmen who just aren’t going to go away any time soon.
If you are looking to open a business in the Asian market, here are some of the tips that will help you stand out in those highly competitive businesses:
Stand out with your customer service
Today’s standards dictate that you can’t become a successful businessman if you can’t get your customers totally in love with your customer service. Japanese people believe that customer is their god. While this controversial statement can also mean that they are essentially worshipping money, there is some logic behind it.
The Japanese people say that treat your customer like they’re god. This and the “the customer is always right” quote mix together to say that since the customers are the source of your bread, you should treat them better. Nothing’s good enough. Treat them in a way that you treat the person you respect the most.
Build your personal brand
Following in another company’s footsteps is all good and all, but only until you have found the way yourself. Literally imitating another company, and how they are doing things will never help you become an independent company that stands out among the crowd. You can never stand out if you are literally trying to stand in a crowd.
Be your own person. Do something that is very unique. Try to aim for innovations, and then hold that innovation in your palm. Use it to make the most profit you can. Embark on a journey that no one else has embarked on. Try to claim the impossible.
Do what you know the best
The only way to stand out among a crowd of highly competitive businesses is to stick to something you know, and polish it so much to perfection, that no other company in that specific domain may even be able to touch your skills level.
Don’t try to invest too much into something that you might think might succeed, but you will have to sacrifice the thing you’re good at, for that thing. That is a very risky move, and Asian businesses seldom recover from major setbacks.
If anything, major companies lose a lot from even a small setback.
Confidence is the key to success
Yes, some people may say that confidence is the killer of all success too, but that is only the case if you are confident enough to make a dumb move. If you think that a certain move is good for the company, and the statistics prove it, go for it. You will need a lot of confidence to take that step, and if that step succeeds, you will rise out among the crowd to become a highly important part of the busy Asian industry of businesses.
Be fast in your delivery
If you are a company that makes products for the customers, be the fastest one in the industry. The industry will only look at the first of its kind product, and not something that comes even a day after that.
But even if you are fast, don’t forget to not waste away your actual potential, and rush out. Make a product, but don’t delay it.
Delivery is one of the most important things of all times, and a fast delivery satisfies the customer more than most things.
The Asian market is not like the American or Western market. You don’t sell a product just because they’re expensive. You don’t sell because of the brand.
Asian people don’t like very expensive stuff. They like the best bang for the buck scheme.
Make a product that is the most affordable for the customer. Don’t try to add too much profit per each unit sold. Just look at what Xiaomi did. They made highly affordable high end mobile phones and made money through ads and data collection that the company had installed on their custom Android skin.
You can see how many people buy Xiaomi phones nowadays.
Instead of trying to make a huge profit from a single unit sold, break it down to a little profit per unit, and make an even bigger profit at the end of the sales.
Both the customer will be happy, and you will have a better market.
Allow for the customer to choose what they want
Instead of making a product that you might think is the best for the customer, give them the opportunity to choose that. Customization is one of the things that unites a big customer base, and if you play the cards right, you can even get free feedback from the customers on your new online forums.
Plus, with the market going in random directions every day, it can get hard to choose a single theme for your product. Let your customer decide what they want to do with the product, and you will finally be able to find a better product without having to invest a lot in Research & Development.
Go green & follow trends
You can’t just become a success in this very competitive society if you are not following the trends. Sometimes companies find success when they are able to successfully predict the upcoming trend and roll out a product for that trend. And when the trend finally hits, they are able to reap the benefit, as well as the focus on the spotlight.
Everyone loves Mother Earth. She is a great nurturer and a great protector. But with the current industry using so much petroleum, plastic and other substances that are harmful for the Earth, your company can get quite a bad reputation for not being a part of making Earth a much cleaner place. Try to go green, and if you properly advertise this, customers will have a hard time if they want to leave your company’s products.
If you follow all of this advice, then you may finally be able to become the best of the best in the highly competitive Asian businesses industry. Don’t forget your original aim, shoot for the stars and land among them!