Hi , How have your Ramadhan ? And one question that been asked to AbangAbu from many entrepreneurs recently is how to overcome competition and competitors? In any business you can run away from having competition and competitors.
B = Be on the look out.
Good ideas are everywhere, if you know where to look.This does not mean you should be blindly imitative. It does mean that you ought to be alert to ideas that can stimulate your own thinking. How, precisely, can you adapt Competitor A’s successful use of direct mail? What can you learn from Competitor B’s computerization? What is the logical extension of Competitor C’s use of customer surveys? Questions like these will stir your own creative juices, and some of the answers will amaze you. A new look at your competition as described here will prove what some business people have always known: competition, properly harnessed, can work for–not
E = Evaluate competitors product
A careful evaluation of your competitor’s product and methods can help you determine your own soft spots — those points at which you are vulnerable. Knowing your weak points will force you to seek out ways to improve them or compensate for them. If they are subject to improvement — for example, poor service— you can take the extra time and effort necessary to rectify them. If they are not subject to improvement – -for instance, your competitor sells a product with a patented feature that you cannot duplicate–you can study your product and find a feature that cancels his advantage, one that you can put forth as a greater value. Understanding your weaknesses can point the way toward what will be unique about your business, and help you target what will benefit your customer.
A = Ask your customers why they buy
A customer fails to buy because a business neglects to mention the one consideration that weighs heavily with her or him. It is not always easy to figure out what that factor is, but there are various clues to look for. One of the best clues is what your prospect says about your competition. Often, a prospect will drop references to your competitor that are almost as good as a blueprint of his particular desires. For example, if the prospect mentions that Competitor A offers a similar product for less money, then you know that this prospect’s hot button is money. That is your cue to either come down in price, if you can, or point out how your product will save him more money in the long run
T = Tolerance with objections
Find out what customers might find objectionable about your product or service. Even if they will not tell you directly, you might get a good line on their objections by paying close attention to the types of questions they ask you. Also, if you know customers of your competitor, ask them why they have not tried your product. Make a list of all objectionable claims and write down opposite them the facts to refute them. Never argue with them .
T = Trace your competitor
Determine the strengths and weaknesses of your competitor through an exhaustive and critical examination of his literature, his products and services. The most effective way to evaluate a competitive service is to pose as a customer. Call and ask for job rates, delivery schedules, terms of payment, discount policies, warranties or guarantees. Evaluate your experience, from your initial contact to the conclusion of the service. You can also talk with the customers and suppliers of your competitor. Fish out important information such as defects in and dissatisfactions with what your competitor sells or makes. Once you know where your competitor is vulnerable, you can concentrate on the superior features that you have to offer. Get those vulnerable points down on paper, and then write your corresponding strong points beside them. If you do not have strong points in those areas, implement them; play these “trump cards” in your advertising .
H =Harness Skills
Frequently, a prospect is undecided between your product and that of a competitor. Your job, then, is to tip the scale in your favor. One man who owns a home-based advertising service devised this approach: He hands his prospect a pen, lays a sheet of paper in front of him or her, and says, “Here’s a list of what you’ll get from our service. Would you mind checking off the things you will be getting from the other source you are considering?” Aside from learning a lot about his competition through this technique, this man subtly forces his prospect to make his own comparison between the two services under. AbangAbu encourage all to give serious thought on improving your closing techniques
E = Enthusiasm
Whenever you find your enthusiasm waning for your own product line, visit the competitor. Make a critical comparison between products. By the time you leave, you may be enthusiastically resold on your product. This enthusiasm will carry over to your advertising and, ultimately, your customers.
M = Make an Impact
Be different , make an impact on your customers so that they will become your sales people and your supporters.Do something that they will value and suprise them with under promise and over deliver.
AbangAbu sure with all these tips you are on your way to beat all your competitors…..
Do you have any recomendation and views…. do coment in the box