How many times have you felt like your competitor has gotten the leg up on you? The feeling of being left behind as a business can be debilitating.
The problem is that we often feel that we’ve got to come up with some grand plan in order to remain competitive.
Don’t be fooled! Getting back on top of the market isn’t as tough as it seems with these high-impact, easy-to-use fixes.
1. The Magic Number – 1
Implement a “advertise 1 item at a time” motto for your advertising strategy. Does that mean you can’t SELL more than one item at a time? No… but wait until AFTER the sale.
When a customer sees more than one product of the same type offered at unbelievably low prices, they will get confused. Which one is the better deal? Which one does he prefer? These questions encourage procrastination – one of marketing’s greatest thieves. Instead, offer the consumer a product that compliments their purchase in a nearby display… or even at the register. You’ll make extra profits instead of losing a sale.
2. Outsmart Your Competitors
Your competition is looking for you in all of the usual places. Don’t go there. Quietly look for new methods of advertising and new markets to target. Niche markets provide the perfect opportunity for reaching new clients. Here’s the key… sub-divide your current market into smaller, more specific niche markets. Familiarize yourself with the needs and concerns of the niche, then present yourself as an expert within it. You can get inventive and modernize an old marketing technique that still carries a wallop – postcards. These small, inexpensive marketing tools still carry a personal message that is quick and easy to read. Your competition won’t even know that you’re using them!
3. Encourage Communication
Communication is crucial to understanding your consumers. Encourage questions before the sale, during the sale, and after the sale. Make it easy and comfortable. Provide convenient contact information on all of your sales materials, including websites. If you find yourself overloaded with questions, create a frequently asked question page where clients can get the answers they need without claiming as much of your time.
Confused customers, tough competitors, and communication mishaps won’t steal profits from your business ever again!