U-Telecom Ltd now T/A Wayv. Talk and Broadband for Business. Liam Parnell is the member
How to gain a competitive edge- stand out from the crowd
As a new business in telecoms, what common pitfalls should we avoid.
Mentoring advice given:
Stop replicating the competition- market too crowded
Need to build trust- significant lack of trust in the market place
Develop a strong USP in order to distinguish ourselves from competition
Base this around our customer service
Need to shout about the culture of our business.
Important to get emotion across in the website.
Try to push the features and benefits that other competitors don’t really talk about, but yet add good value to the customer.
What was the best piece of advice you were given?:
The feedback on our branding and marketing material did not reflect where we wanted to position our business in the market.
What did you do when you returned back to your business?:
Market research project
Review of our long-term strategy and culture
Questioning of our branding, marketing material, and tone of voice.
What changes have you made since the mentoring session?:
In the middle of a complete branding overhaul.
New Trading name
Re-aligning of culture
Change to our Language- Eliminated all tech talk
Modified our Customer Offering and KPI’s.
What have been the benefits to your business of this mentoring session?
The most valuable thing we have done is that we now implement strategy based purely around adding value to our customer, rather than looking at what our competition are doing- Value Innovation. We have absolute confidence in what our target market is and put our complete focus on those and those solely.
What growth has the business seen?:
Our re-brand launched in March 2020, just as unfortunately Covid-19 kicked in. Despite this we have had 2 record breaking sales months in a time when businesses are finding decision making difficult. Our new added value offering, which included enabling businesses with the ability to make and receive desk calls from the home or on the move came at a great time. Our focus on customer value, has seen our sales increase by around 20% in 2020. However, I expect this to grow to well over 100% once the culture we are trying to create is fully embedded, businesses are able to return to more normal circumstances when our target market be able to distinguish us from our competition, and trust that they are in safe hands.