Business is sometimes a dog-eat-dog world where you must look out for your own interests to survive or stay on top. In addition to referrals, word-of-mouth and marketing sources, new customers can come from your competition. Taking customers from your competition is OK as long as you do so legally and professionally and do not use underhanded methods. In order to steal your competitor's clients, you must offer something bigger, better, more valuable or less expensive than your competitor.
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Difficulty:
Moderately Challenging
Instructions
1
Offer a must-have product or service. Study what your competition sells and offer something better. For example, cell phone manufacturers often do this by creating devices that have advanced technologies, longer battery lives or multitasking functions.
2
Create a need that customers did not know they had or something that goes beyond their expectations. Restaurants and cafes started doing this by providing free Wi-Fi connections within their establishments, which may be beneficial for college students who do not have Internet access off-campus. Companies that sell e-book readers also created a new need by providing e-readers that are similar to multifunction electronic tablets.
3
Highlight customer testimonies. Customers who use your competition's services are more likely to believe your customers when they state that you have a great product than when you say you do. Find clever ways to feature customer testimonies. Some ideas include creating a page on your website that features testimonies, creating a social networking account where customers can provide positive comments and allowing bloggers to try your product free of charge in exchange for a review.
4
Create a marketing buzz about your company so it becomes an easily recognizable brand. A professional marketing company can help you create a successful marketing campaign, but you can also do it yourself. Make it easy for your competition's customers to use your product or service by offering free trials, samples and/or deep discounts. While offers of free products or services seems financially ineffective, building a loyal customer base, getting free word-of-mouth advertising and taking customers away from your competition will make it worth the initial expense.
5
Learn from your competition and keep improving. Studying your competition can help you learn about your own business' strengths and weaknesses. By continuously improving your brand, you will keep your customers and attract new ones by always offering something new or enhanced.
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