A Marketing Strategy to Beat Your Competition and Double Your Profit, Fast

You have built your business and it has been going along nicely, you have a great team of people in your company and you now have found that you need to ramp things up. Recently you have noticed your competitor is doing well and taking a larger and larger share of your business market so you need to rethink your strategies on how to combat this now. You do know that you need to face this head on now or there may not be a business in a couple of years.

How much should you spend to get the best return on your money with marketing?

This is often the stumbling block for companies as the need to build the business is high and the belief that this is going to cost a lot of money can be the catch twenty two. The economic situation worldwide has been a determining factor in business and I will show you what should you do to grow your business without having to borrow more at this time.

Successful entrepreneurs in business see difficulties as challenges and not setbacks, they do not procrastinate and they definitely do not give up.

There are definitely ways to combat your competition and do it fast. Competition is not bad for business it is good and essential to the development and survival of any business. It keeps the juices flowing and you keep improving products and service. Having competitors means the market is healthy and that there are profits to be made, your goal however to get the a majority share of the business.

Learn the Art of Competition Crushing.

• Understand your customers and what makes them tick- Talk to your long term repeat customers; find out what made them change from a prospect into a customer. Once you have an understanding of the decision making process of your customer you will then be able to harness this information for marketing purposes.
• Find out what makes them stay as your customer as these customers often have a lifetime value far exceeding newer, less loyal customers. To be able to build on this you need to really understand your customer. This will also help you identify your ideal customer and build on these relationships to capture the marketing power your business has at its disposal.

So for the first part of this exercise, you need to make contact with your clients and ask the questions. I have always found that actually by talking to your clients and telling them that you are conducting a short survey on how your business is meeting clients expectations and most customers are only too happy to oblige. Often you uncover further business just by the fact you have made contact as well as a lot of extremely useful information for a future marketing campaign.

One of my clients was right up against the wall. They run a school for people who had left school early without gaining the required standards and training needed for future employment. They offered secretarial courses, computer courses etc.They were always very busy working in the business and not on the business and that was why they were in this precarious situation. I suggested that they put aside time for all their teachers to get on the phone and contact all their past students. They were to find out what their old students were doing, what jobs they were in and to mention the new courses the school was now offering. At the end of that financial year they posted the biggest profit ever and now every year they use the same process. So communicate, communicate, and communicate. Build trust and rock solid loyalty from your customers. Remember it is how you deal with a difficult challenge determines the likelihood of achieving great success.