Here are a few creative ways to help turn your competitors’ customers into your own:
- Offer a comparison chart that focuses on reasons why customers should choose your product over the competition. For example, you may offer a standard five-year warranty, while your competitors may only offer a three-year warranty. Or perhaps they offer an extended five-year warranty option, but at an additional price.
- Stay informed of what your competitors are doing, but avoid copying their ideas. Instead, add value and make their ideas even better. For example, if a competitor offers free shipping on purchases of $100+, you could provide free shipping on all purchases and possibly even returns.
- Create a unique tagline or slogan that focuses on your key selling points, such as: "Hassle-Free Returns" or "Receive your lunch order within 30 minutes or it’s free."
- Add value to a comparable product through added services, such as longer support hours, free training, and live phone operators (no automated phone service).
- Create a customer survey. Ask your audience how you can improve, what new offerings they wish you provided, what they like best about your company, and what areas they may find lacking. Their answers could easily point to ideas that will help you gain a competitive advantage.
- Provide a risk-free trial to test your products or services before committing to a change.
- Compare your guarantee to your competition. If your competitors don’t offer a guarantee, this is an extra reason to promote your guarantee heavily.
- Compete with low-price competitors in creative ways. Offer exclusive discounts when items are purchased together as a package, or offer free or discounted add-on bonuses.
- Romance your competitors’ customers. Show them the affection they may be missing from their current vendor, and let them know you’re willing to go the extra mile to win their business.
- Even if prospects are happy with their current provider, be sure to continue your marketing efforts. Create front-of-mind awareness so you’re at the top of their list if they ever change their mind.
Newsletters have a proven track record for creating front-of-mind awareness, establishing and maintaining credibility, and publicizing an organization to the community. Here are a few tips to improve the effectiveness of your newsletter:
The first Friday in March is Employee Recognition Day, but you don’t have to wait until then to show your employees how much you appreciate them. Though the economy is on the upswing — finally — many employers are still feeling pinched, especially when it comes to budgeting for pay increases and other employee-motivating benefits. But even if you can’t afford a grand gesture, showing your employees how much you value their contributions is still a must.
Imagine taking several children, one at a time, into a room, where you’ve placed a tantalizing marshmallow on a table. You tell the children that if they can resist eating the delicious sweet sitting in front of them while you step out of the room for a few minutes, they can have two when you return. If the child can’t wait, they can eat the first marshmallow whenever they want, but they won’t get the second marshmallow when you return.
Thomas Paine once said, "Reputation is much easier kept than recovered." There are two groups who understand this better than anyone else: businesses and celebrities. Both groups spend a considerable amount of energy protecting their reputations and promoting the image they want to portray. And both groups have seen this task grow increasingly complicated thanks to the Internet and social media.
Networking is an important aspect of the professional world on many levels. If you own a business, you network to find more clients, meet potential connections, and even find other companies you might collaborate with on a project one day. Those searching for a job have continuously heard how critical networking can be for finding the right fit.
Ever feel like you’re missing out on the latest buzz from the business world? We get it: The sheer amount of info out there can seem overwhelming, but whether you’re a business owner, entrepreneur, or manager, it’s essential to keep up.
Something interesting happens between childhood and adulthood. As children, people tend to not want others to copy them. As adults, however, we spend a considerable amount of time trying to copy those around us. We see someone with a new idea, and all we want to do is imitate their accomplishments. Someone successfully develops a new app, and 50 similar ones seem to spring up overnight.