|"Small Business Marketing Strategies that Produce Optimal Results"|
Serving the global online business community since August 30, 2000
~~Small Business Competitive Strategies~~
12 Ways To Outsell Your Competition
The key to outselling your competition is to compare your product to theirs, and then use your findings to improve your product, emphasize its strengths, and refocus your marketing efforts. Below are 12 critical areas you can compare and improve upon to outsell your competition.
1. Price- Can you offer a lower price? People love to save money. The opposite, but sometimes effective approach is to charge a a higher price than the competition, but increase the perceived value of your product or service? Offering easier payment options than your competition can also help you win customers.
2. Packaging- Can you package your product more attractively? Do the colors of your package relate to your product and your brand identify? Sometimes changing the size of your package can have an impact on sales. (It's a literal example of "thinking outside the box"!)
3. Delivery- Offering free or low-cost shipping is a feature that can sway a lot of potential customers.If you have a high enough profit margin to offer free shipping, that that can be a major selling point. Fast product shipment is another one.
4. Benefits- This is a big one: How do the benefits of your product or service compare to the competition? Do you offer more benefits than your competition? Are they stronger and more compelling? It also helps your response rate when you offer believable proof that your claims are accurate and that they apply to everyone, or at least most of your customers or clients.
5. Quality and Durability- Is your product well constructed and tested to last longer than your competition? Can you come up with ways to improve the overall quality of your product or service?
6. Performance- Continuous improvement is the hallmark of a successful small business. Can you make your product faster or more efficient at solving your customers problem? Is your product easier to use than your competitions? Most people gravitate to things that are simple, fast, and uncomplicated.
7. Features- Can you offer more product or service features than your competition does? Do your features and benefits you offer complement one another?
8. Availability- Is your product always available or do your have to backorder it? Customers like instant gratification and are frustrated by having to wait. One way to potentially improve the process is by seeing if your suppliers can drop ship to your customers.
9. Value-added Extras- Here's something which will never change: People love free stuff! Do you provided free bonuses when your customers buy your product or sign up for your services? Are your bonuses more valuable, or perceived as being more valuable, than what your competition offers?
10. Service- Outstanding customer service is a major factor in attracting and retaining loyal customers. Having friendly/helpful customer representatives, 24/7 customer service, and just being easy to deal with on a regular basis can give you a significant marketing edge over the competition.
11. Proof- Strong testimonials or endorsements from satisfied customers, especially if they're well-known in the community or associated with a recognizable business or organization, can be a powerful way to lower sales resistance and win over more new customers and clients.
12. Guarantees- Features like offering longer warranties than the competition, no-hassle returns, stronger guarantees, competitive product and labor warranties can help make your business the preferred choice over the competition.
Tool and Tips for Marketing More Competitively:
~~Small Business Competitive Strategies~~
12 Ways To Create an Significant Competitive AdvantageA competitive advantage is something that sets your business apart from your competitors. To compete with other businesses nowadays, especially online, you need to specialize or have a unique sales proposition that gives you a distinctive identity. Below are twelve ideas for being uniquely different.
1. Your company's advantage could be that you offer free delivery. This may cost a little money, but, you may gain the extra customers to make it worthwhile.
2. Your competitive edge could be that you offer a lower price. If you can't afford to offer a lower price on a continuous basis, you could consider holding the occasional discount sale.
3. A big selling point could be that your product achieves results faster. This niche is very effective because people are becoming more and more impatient and want results fast.
4. Another way to position yourself favorably alongside the competition is to leverage the fact that you've been in business for a longer period of time (if that's the case). The public's perception is that if you've been in business longer you're better established and have more credibility.
5. Your sales advantage could be that your product tastes, smells sounds, looks, or feels better. When you target the the senses you're appealing to basic human responses and attractions.
6. Perhaps your product is light or compact. Customers may want to take the product on a trip or don't have much room where they live. Convenience can be a major selling point.
7. Get some public relations benefits by publicizing things like business awards you've won or fund-raising events you've sponsored. When you win an award or organize an important event, send a press release to the media, announce it on your business blog, and take advantage of whatever social media marketing outlets you're involved with, such as Facebook, Twitter, Linkedin, YouTube, and Pinterest. Things like this help enhance their trust in you and your business. Trust and credibility are cornerstones of small business stability and growth.
8. Your competitive advantage could be that your product lasts longer. People don't like wasting time and money to buy replacement products or supplies.
9. Is your product easy to use? Few people like to buy a product that requires them to jump through all kinds of hoops or spend a lot of time assembline it or learning how to use it.
10. Depending on the product or service, superior safety features may be a big selling point. Many people are very safety and health conscious, and often prefer products that are safe, harmless to the environment, and endorsed by health, safety, or environmental organizations or agencies.
11.This is another one of those perceptual advantages, but if your product was made by hand, that's usually a feature that's well-worth mentioning in marketing materials, web sites, and advertisements. Some consumers believe that products made by hand offer superior old-fashioned quality.
12. As mentioned in the previous article, a key method of attracting and retaining customers and clients is by letting them know, in no uncertain terms, that you and your employees stand behind all your products and services. Everyone want to know that you back up any claims you make about your product and services with guarantees and/or free replacements.