Joe emailed me with a very direct question. As lots of you may have a similar challenge, I’ve shared the question below, along with my answer.
Hi Jim. What’s the best way for me to crush my competitors? I’m going to lose my business soon unless I turn things around and I’m sick of missing out to competitors that are no better than me.
I think crush is a strong word, but it certainly gets Joe’s frustration across.
How to beat the competition
There are a couple of proven options. I’m going to highlight them, then offer a more powerful alternative.
1. Most business leaders will tell you that the best way to beat the competition, is to outsmart them. This means spotting or creating opportunities before they do. This is a very effective approach.
2. Some enlightened business leaders will tell you that the best way to beat the competition, is to out care them. This means focusing heavily on customer care. It means truly going the extra mile. It means showing the marketplace that you care enormously about what matters to them. This is also very effective.
However, I’ve uncovered a 3rd and massively more powerful alternative. You can out manoeuvre your competitors by doing both of the above!
By outsmarting them and out caring them, you leverage 2 enormously powerful strategies. You set yourself apart from all the rest. This makes you a lot more visible. Moreover, it makes you more visible to the right people; those who value what you do. And as my clients can confirm, it’s a spectacularly effective way to build a high-profit business.
Is the out manoeuvre approach easy? No. It takes a little additional effort.
Is it possible? Yes. Of course it is. I do it every day.
Is it worth it? Absolutely. You see, this approach not only helps you attract great clients or customers. It helps you retain them. And a business that’s regularly winning great new clients, and seldom losing any, is pretty-much unbeatable.
[P.S. Here’s a recent interview I did with the team at The University of Northern Iowa. I hope you find it useful!]
To your success,
Your marketing mentor
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