We all know that it is a competitive jungle out there. Your competitors are after your business and you are after theirs.
Ultimately, somebody becomes weaker and actually goes out of business.
Before establishing a proper marketing strategy and expecting customers to beat down your door, make sure you clearly know where your company stands in the competitive landscape. Ask yourself three important questions:
1. What is your actual market share and customer niche?
2. Is the competition addressing only a select sector and geographic area?
3. What are the key competitors (forget about the minor players) doing in terms of:
o product offerings
o presentation quality
o brand messages to the market
Lastly, and most importantly, what can you now do and say that will make your company really stand out?
Understand that you must give your prospects a reason to say “I would be an absolute fool to buy from anyone else, at any price”!
Professional Business Coaches are trained to help you answer these great questions. Look to talk about an effective competitive strategy with a qualified business coach and advisor? Why not give PBCA Canada Members a call?