Keeping an Eye on the competition
You work hard to build sales. You encounter daily challenges in business. Challenges create an interesting spirit of competition. Competition will improve results. Competition in its best form forces us to focus on what is happening in our industry.
Why should we focus on the competition? Competition gives you the opportunity to show how knowledgeable you are about the market of your product and service. Successful businesses watch every move their competition makes. You become more credible if you are answering questions about the competition.
Businesses should learn as much as they can about the competition. You will do a better job of selling your product and increase sales for your company if you know what your competition is doing. Get to know your competitors. How do they handle sales calls, emails, advertisements, service calls or any thing that helps promote their business?
If you want your business to have the upper edge over your competitors you will need to differentiate your company by providing products, services or solutions that will be more desirable to your prospective customers.
- Do your research
- Evaluate your competitors
- Focus on your presentation
- Find your uniqueness
- Compete to succeed
Competition is good. It is good news if we encounter a new prospect that is buying from a competitor. It means you have found a qualified lead. It is easier to fill a need than to create a need. If someone wants to buy from a competitor it means the new prospect has the need, has the money to buy and is ready to buy.
What do you do next? Here is where you focus on your presentation and apply your research. You have evaluated your competitors and you are ready to reveal your uniqueness to win over the new prospect to become your customer.
Research should be ongoing. Successful businesses change with the market. What you once thought was unique can quickly turn into something every one in your industry is offering.
Take the time to learn every thing you can about your competition. Excel in promoting your business by keeping eye o the competition.