How can I beat the competition?
The question sounds as with too military voice asked. However, this is a most frequently asked question from entrepreneurs. If they beat their competition, they will have more market shares, that means more customers, that means more sales and more profit.
Here are 13 steps that can help you to win a battle, but not the war because this war is never ending process in the business world.
1. Follow the Steps of Your Competitors
As you have strategies, tactics and plans, also your competitors have the same. What they are doing? How they are doing business? How they approach doing business in the market? What they are doing to make their customers happy? These and million other questions can give you the real picture about your competitors that will help you to build better strategies, tactics and plans for the battle.
2. Make Competitive Analysis
If you have information about your competitors, now you can make brief competitive analysis. With this step, you will identify your most important competitors and evaluate their positions according to different factors. Before some period of time, I make a Competitive Analysis Template that you can use it for this purpose.
3. Compare Their Offers to Yours
The offer is one of the most important elements that differ one business from another. Irresistible offer is something that no one can refuse it. Because of that make more deeper analysis of the offers of your most important competitors. Find their advantage and disadvantage. What is better from your offer? What is the most important part in their offer? What they try to achieve with their offer?
4. Make a Better Offer From Them
With all that information, why you don’t try to make better offer from them? All their advantage let’s be your advantage. All their disadvantage let’s be your advantage.
5. Solve Real Customers Problems
Find real customer problems, not what you think or what your competition thing that is customer problems. For that problems make a real solution that you can offer.
6. Know Who Really Are Your Customers
If you know your customers you will better understand their needs. There are two negative effects from unsatisfied customers needs: Losing potential energy from customers and marketing activities and losing potential energy stored into your cash.
7. Differentiate Your Business From Your Competitors
How can I know that your business is different from your competitors? If you show me I will know. If you want to show me start brainstorming all important business aspects that differentiate your business from your competitors and use them everywhere. Use them in all your marketing weapons. Use them in all your social networks. Make them sharable. You can read more in 10 Steps to Better Understand Customers Needs.
8. Let’s Customers Tell You How Your Business Can Be Better
The biggest mistake that entrepreneurs can make is not asking their customers what they think. Simply ask. Ask what they think about your products and services. Ask what they want. Ask how you can improve the business with them.
9. Always Be There Where Your and Your Competitions Customers Are
You must find ways somehow to be present where your customers are. However, why don’t be present at the places where your competitor customers are? If they are on Facebook, let’s your business be there. If they are on Twitter, lets your business be there. If they are on specific trade show, make your business present there.
10. Personalize Your Marketing Messages With Your Customers
Personalization of your marketing messages is a part of your overall work on your business optimization for customers. You must use different segmentation of your current and potential customers list. For all different types of customers, you must send different marketing messages that was personalized for each type of list.
11. Be Prepared for Dirty Playing
Dirty playing can be part of strategy of your competitors. Be prepared to use the similar defense mechanism if they attack you in such a way.
12. Be Creative
Creativity is directly related to the discovery of new ideas or concepts or modification of existing ideas and concepts. In the same time, it cannot be easily copied from your competitors.
13. Be the First in More Elements Then Your Competition
Someone who will be the first in changes, innovation and improvements of all business processes will be better than competition. It’s better to be a leader than a follower.