Getting Ahead of the Competition
by Kim Haas
Competition is a constant threat. If you want to stay on top, you
have to stay on your toes because your competition won't hesitate
to step on them. Here are a few tips on how to get an advantage over
your competition.
1. Advertise using the same media as your competitors. Offer to
go that extra mile for your customers such as offering an extra 30
day warranty or free gift wrapping. Customers appreciate a business
that will give a little extra without charging more. Here's an example:
My husband had stopped at a local convenience mart for a soda after
he closed his automotive repair shop. He saw an elderly man of about
80 struggling to change a flat tire on his car in the parking lot.
My husband offered his assistance and changed the tire for the gentleman
but refused to accept the $20.00 offered for helping out. A few days
later, a customer entered his shop needing major repairs on her car.
She explained to my husband that she was the daughter of the gentleman
whom he had helped earlier in the week at the convenience station
and she felt that he would treat her right as a customer! The few
extra minutes that my husband spent helping one person, turned him
into the preferred mechanic for that entire family.
2. Collect references or testimonials from satisfied customers.
Nothing speaks louder than a reference from a satisfied customer.
How often have you visited a restaurant because a friend or acquaintance
had told you about their fantastic food or service? Or rented a movie
because you heard someone say it was a must-see?
3. Find out who your competitors are that sell products or services
similar to yours. Where and how do they advertise? How many employees
do they have? What is their customer service like? What are their
strengths and weaknesses? What are their customers saying about them?
The more you know about your competition, the better you will be
able to adjust your own practices to compensate. Cheapest prices
don't always mean better products.
4. Keep your employees happy. If your employees are happy, they
will make money for you. When your employees are happy, it will also
show in their work and how they deal with your customers. If you
have an employee that stands out among your other employees, make
sure that he/she receives the recognition they deserve through employee-of-the-month
programs, periodic raises, or simply an occasional word of praise
between you and your employee.
5. Keep in touch with your customers. A business that is consumer
oriented and has developed a relationship with its' customers will
keep them coming back. Without customers, you have no business! Treat
each customer as if they were your best customer. As a rule, if a
customer leaves your store smiling....they will return.
6. Plan on spending 75% of your time running your business. A new
business requires careful planning, promoting and hard work. Don't
expect to take a vacation during the first year or two of opening
your business! It takes time to build and nurture a business.
7. Identify your niche. It is best to start out marketing a business
to a specialty niche. Once you have identified your niche, you need
to find out whether you can make a living from it. Do some marketing
research. Don't rely on a single market segment for success, the
secret is to discover several niches! Having the support of your
family is important, however, I have discovered that the best competitive
advantage is experience. Your chances of succeeding in business also
increase if you have taken business courses in college or have worked
in your particular market prior to starting your business. If you
have experience, you probably already know what the market wants
and the confidence to continue giving it to them. Although a detailed
plan is an excellent tool, experience is by far your best advantage
over competitors who are just breaking into business or who have
forgotten that customers are what make your business a success. ------------------------------------------------------------
©Womans-Net
Kim Haas is a WAHM and Founder of Womans-Net.com, a popular online
networking community for women focusing on working from home and women in
business. www.womans-net.com,
contact: mail to:womans@womans-net.com
|
