Beating the Competition with Better Coding for Your Business
Technology is one key to success in today’s market, no matter what your industry. From marketing to software functionality, technology (software in particular) is the main way to grow your share of the market and attract your customers.
Can you code your way to a competitive advantage? Yes! Technology offers huge advantages – and fantastic ROI – for any business, no matter your industry, as long as you use it right.
The right software can add tremendous value to your business.
Few companies have a truly unique product. If you offer something that fills a niche no one does, be prepared to encounter competition as soon as someone else is able to bring a similar product to the market.
Code features into your system that no one else has. This depends on researching your customer’s specific needs. What are their pain points? What is the main annoyance your customers need help eliminating? Figure that out and develop a system to make it as easy as possible. Your customers hate complicated. They want technology to blend into the background, rather than standing out, all flashy-like.
Often, doing one thing well yields a better result than trying to do many things, but no better than the rest of your industry.
Technology doesn’t eliminate competition, but it gives you an edge.
Making a product unique is not a novel idea. Your competitors are also engaging with cutting edge software and development, so how do you make your business stand out?
Innovation is, of course, the name of the game in technology development. There is something to be said for evaluating the market and predicting what your competition will do, or what functionality you need to implement in order to remain competitive. Sometimes, you need to code just to keep up with the competition, while at other times, you will want to develop technology to surpass them.
What is your competition doing to capture business? This step depends on you analyzing your competitors and determining what they do well. An example of this is the industry standard in accounting software, Quickbooks, who was being challenged by startup Freshbooks. Freshbooks offered an entirely cloud-based option, allowing the convenience customers were looking for of being able to access their systems from anywhere and not have to purchase physical software or spend time installing programs on each company computer (not to mention the frequent updates requiring computer reboots!). Quickbooks had been slow to offer a web-based version of its software until it discovered this was a technological feature that was highly desired by customers, and that was being offered in a better way by a competing business. In this way, a new idea from Freshbooks spurred innovation across the industry.
Focus on your internal systems too.
You may not have a product that benefits from the ability to add coding, which is especially true in traditional professions or service-related industries. That doesn’t mean technology can’t help your business. Your internal systems and staff can benefit from a coding advantage, which in turn will help your customers and your overall business.
Almost any business can benefit from technological advances in human resources, billing or inventory management. Even if your company is too small or specialized to have many departments under one roof, your in-house operations, and even core business, may rely on your choice to move forward with a technological project. For example, a home contractor may find they are losing business because they can’t turn around their estimates in a timely manner, allowing their leads to accept the estimate of a competitor. Software that allows employees to input information to mobile devices and come up with an estimate on the spot that can be emailed directly to the potential customer can help turn that investment of time into new business – even in an industry as traditional and service-based as construction.
Whether you outsource code, learn it yourself, or hire a team member to take over the technology development process, building unique technology can determine the future of your company and the overall success of your business.
Thinking about custom software? Download our infographic The Top 10 Signs You Need Better Software.