How To Outperform Your Competition
Get Their Customers To Become Your Customers!
Many of the emails I've received are questions about having problems with competitors and what should they do. In this weeks issue, I'm going to address that problem.
To win in business, you only need to be better than your competitors. You need better service, better sales reps, and better advertising and marketing copy. One very critical item is that you also have to be more focused on the needs of your customers.
You don't need to be light years ahead of your competitors as long as you provide more to the customer.
I remember a joke I heard at a recent seminar I did. It went like this.
"Two men were walking down a path in the woods. It was getting pretty dark and they were tired from walking. They were headed back to where their car was when one of them noticed a huge bear running very fast towards them. One of the men dropped to the ground and was looking in his duffel bag.
The other man said, " What the heck are you doing? There's a bear running towards us."
The man replied, " I'm putting on my running shoes."
"You're putting on running shoes. Do you expect to Outrun that bear?"
The man replied, " No, I don't have to outrun that bear. I just have to outrun You."
The moral of this story is that you must do more for your customers than your competitors do and you will eventually be not only successful, but you will get their customers to become your customers.
You must create strategies that will get customers to come to you and not to your competition.
In prior issues of this newsletter, I've gone over extensively about the importance of creating a Unique Selling Proposition. I won't go over it much, but if you're a subscriber who doesn't know what that is, I go over it extensively and take you by the hand on how to create it in my book, "How To Get Customers to Call, Buy and Beg for More."
It is very critical to create your USP and it should be your main objective. You must determine WHY your customer should buy from you rather than your competition.
You must position your company to take advantage of marketing niches. Your Unique Selling Proposition is that distinct and irresistibly appealing idea that sets you and your business apart from every other "me too" competitor.
Your company's entire marketing efforts and its ultimate success is to build on your Unique Selling Proposition. Again, it could be price, service, quality or a myriad of other unique things. But it has to be unique.
In my first book, I give an example of an experience I had with a furniture store where my wife and I bought some furniture and when the store called to say that our furniture was in and that they would deliver it the next day. I asked what time, and they said that they couldn't give me a definite time for the delivery but it would be delivered between 8 AM and 5PM and that I'd have to be available all day.
They have forced me to go somewhere else the next time I'm in the market for furniture and finding someone who can give me a definite time for delivery, so that I don't have to waste a whole day waiting for it.
The possibilities of building your USP are really unlimited. It is best to create your USP to be so powerful that it drives the customers to you.
Most businesses are not unique, and they don't promise great benefits or service.
Now, let me write about some Good News and Bad News.
First the Bad News. The average American company will lose 10 to 30 % of its customers this year because of poor service. When customers have a choice, they will go to the competition.
Customer satisfaction is like an election held every day, and the people vote with their feet. If dissatisfied, they walk to your competitor. Sometimes, they will run.
Now the Good News. If you initiate an effective customer retention program, you will see your profits jump 25 to 100 percent. Isn't it worth the time and effort it takes to increase your profits that much?
Like it or not, customer service is the competitive battleground for this decade and perhaps into the future.
Well that's it for this week.
Talk with you next week. In the meantime, keep well and healthy.
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