How To Avoid Being Stung By The Competition

How To Avoid Being Stung By The Competition

​You have your best products and services on show and they are looking and feeling great.

You’ve spent time honing your marketing messages all pointing towards the benefits of what you offer.

Your customer service is aligned to provide top quality response to enquiries and after-sales support.

But all of a sudden your sales decline, people aren’t talking about you and revenue and profits fall away.

What happened? You were stung by a competitor!

This happens all the time and you must proactively manage your marketing to ensure you nip them in the bud before they sting you.

The first way is to become one of their customers. Yes in stealth mode so that you can quietly observe and become aware of all of their products, services, promotions and offers. Only by experiencing their marketing from the customers’ perspective can you truly understand your competitor’s relevance.

Secondly you must continuously watch. Too many marketers have the half yearly or annual review of their competition. By that point you have probably been overcome by competitor activity and you don’t even know it until it’s too late.

Thirdly and most importantly if you already know the most important things that your customers value in the products and services you offer, then you will never have to compete with competitors on price, devaluing your entire market place. By offering top quality value in the things that your customers view as most important, you can ensure you never get stung and in fact your competitors never establish strong roots at all.