Quit swimming in the abyss…Know your competition

compHave you ever gone car shopping with no idea what kind of car/truck you want to buy? If you have, it is a very long frustrating process where you usually end up with something you don’t want.

When you go into a sales meeting, have you taken the time to know who you’re selling against, what the customers concern is, and what you’re going to position your company offering as?

Jim Cramer of Mad Money on CNBC always says before buying a stock, do your homework. It is no different when selling a product or service to a prospect. Know who you’re selling to, what their pain points are and who you’re selling against. Knowing these items will get you a leg up over your competition. Remember nobody likes to do homework, but those who do usually ace the test.

-Trent

Know Your Competition

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Recently we had to write a business plan for a plumbing company. It has got me thinking about who this plumbing company will be competing against for more business. That made me think and ask myself the question, “Who am I competing against and what do I know about them? “

What to do to stay competitive?  Within your specific market:

  • Find out who else sells what you do to the same client base.
  •  Know who they are, not just their names but what they offer, and who their clients are.

Ask yourself:  What would Nick Saban do to prepare for his next game?

He, along with all successful coaches, spends hours upon hours researching opponents’ statistics, watching their game footage and figuring out exactly what their biggest weaknesses are.   From that information, he formulates his game day plan.

  • Take 15 minutes each day this week, look up who your competition is, read their websites, find out who their clients are and start finding ways to sell against them.

The more you know about your competitors, the more ammunition you have to win against them.  The more we know about their clients, the more we can sell against our competitors’ weaknesses.

-Trent

Community = Business

tagIn today’s world, marketing and growing your business is very different than in the past. Today, we have the opportunity to add value to millions of people for pennies on the dollar.

Instead of marketing effectively, we tell all about ourselves. We project what our company sells, how we are the best…me, me, me, me! In today’s marketplace, consumers can find “you” all over the place. Consider instead, of marketing how you can add value.

Share ideas on how to better do what it is you do. If you’re a home store, give your audience tips on decorating, kid proofing their homes or DIY projects. After you have given value three or four times, share what you do and how you add VALUE.

By adding value, you will add to your community. Build the relationships within your community and you will grow your business.

Let’s stop being self-centered and FOCUS on the customer.

Trent