Your Competition Wants Your Customers

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Competition is a part of business life. Some would argue that competition forces businesses to strive to get better at what they do for the fear of losing customers to rivals. Losing a few customers periodically is inevitable. However, losing too many (especially your best customers) must be avoided at all costs.

For most businesses, the top 20% of their customers account for 80% (or more) of their profits. While much thought and strategy typically go into bringing in new customers, not enough is spent on retaining existing customers. That’s where the real gold lies.

It may be a little uncomfortable to think that some of your best customers might be looking at making a change, but it’s something you must consider if you want to avoid having it become a reality. Everyone talks about taking care of their customers, but in many instances that’s a phrase not truly backed up with action. To build a fence around your customers and keep them far away from the prying arms of your competitors, you mus truly care, protect, and guide them.

Gather customer feedback on an ongoing basis.

Most businesses put a lot of hard work into getting a new customer. But after they become a customer, little effort is put into nurturing that relationship. A customer should never be taken for granted.

It’s easy to get wrapped up in the day-to-day operation of your business and lose touch with what’s happening outside your doors in the marketplace. Phone calls and emails to customers can be a great way to communicate and stay connected. But to do it on a large scale can be unrealistic. Informative company newsletters and surveys can help keep your customers up-to-date and give them a way to express their needs and concerns. These efforts can provide an early warning system to catch a customer jumping ship before it happens.

Tell them what you do.

Your competitors will do anything to steal your customers, including promising the moon. You know that some of these are false claims or teasers to get their foot in the door. Some of your customers may not know that. Your job is not only to provide a great product and service but also to continually remind customers about the value you provide that your competitors can’t match. If you don’t tell them, no one else will either.

Informing your customers through educational marketing content is a powerful way to keep them engaged while differentiating your company as one that truly cares about their success (not just your own).

Where are the weaknesses?

To help plug the holes in your business, start thinking about things from your competitors’ point of view. After all, they’re always looking for any weaknesses they can exploit, so you should, too. That way, you can shore up your weak spots before they get out of hand and, in the process, strengthen your position in the marketplace.

To discover your weaknesses, talk with your customers. Ask them about the areas you could improve. Stay up-to-date with industry trends that could create a possible gap in your defenses, too. You can’t buy every bit of technology as soon as it hits the market, but you can stay informed so you can address concerns with your customers when they arise. Sometimes the best defense is a good offense. Be proactive in your customer communication.

“There is only one boss: the customer. And he can fire everybody in the company, from the chairman on down, simply by spending his money somewhere else.” ~ Sam Walton, Wal-Mart

Customer retention starts with providing great service and value. Getting to the top is hard work, but staying there requires just as much effort. Being aware of the competition while shoring up the weak areas in your business can go a long way in helping keep your customers coming back.

Monopolies and the lack of competition aren’t in anyone’s best interest. Keeping your best customers satisfied is. Use competition as a motivating factor to continually improve your services. Communicating with and showing appreciation for your customers will give you an invisible force field to keep the competition out of your backyard.

Is Guerrilla Marketing Dead?

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You may think guerrilla marketing is dead, but really it’s evolved with the times. If you haven’t done the same, then you need to take a leap forward to get the most impact from your marketing dollars.
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<strong>What is Guerrilla Marketing?</strong>
Jay Conrad Levinson coined the term guerrilla marketing in 1984 with the release of his book, <em>Guerrilla Advertising.</em> In military terms, guerrilla refers to an unconventional form of warfare used by armed civilians, often against a force with superior numbers and weaponry. It relies on surprise, sabotage, and the ability to hide among a crowd. Guerrilla marketing is a take on advertising that uses similar tactics to gain attention.

The primary advantage of guerrilla marketing is its ability to increase a marketer’s impact using less costly resources than traditional advertising. It relies on high energy, imagination, and ingenuity. The idea is to take your customers by surprise, make a lasting impression, and create the kind of buzz that gets people talking.

The following two examples will help you wrap your mind around this strategy:

1) A new, locally based beverage company posted creative flyers on light poles and other public structures all around town. These flyers looked more like graffiti than advertising. Nobody even knew what it was all about, but the images stayed in their minds. After approximately three months of bombarding the public with these images, a billboard was displayed which used the same images, but also identified the company and the product. A brand was created before anyone knew what the brand was for. This is guerrilla marketing.

2) Compare this to a strategy used by a national research organization. They created billboards and took out full-page magazine ads that compared a neurological disorder with child abduction. These fundraising advertisements included the organization’s name and contact information. The shock factor backfired and complainants formed organized protests. This isn’t guerrilla marketing. It’s simply disrespectful and in poor taste. There is a difference.

<strong>How Has Guerrilla Marketing Evolved?</strong>
If you visit Jay’s site, you’ll see that guerrilla marketing is alive and well and evolving with the times. Guerrilla marketing is online — and you should be, too. Guerrilla marketing values permission-based marketing strategies — and you should, too. Guerrilla marketing uses popular culture to make an impression — and you should, too. Guerrilla marketing emphasizes ethical communications that are also creative and unique. And that’s exactly what you need!

When guerrilla marketing first became a hit, consumers were inundated with “professional” advertisements on television, radio, magazines, and newspapers. Now, it seems anywhere and everywhere we turn we encounter ads — they’re even in public restrooms! If we were numb before, we’re deadened now.

Advertising and “traditional” marketing just doesn’t have the impact it should for the dollars companies spend. And it’s no wonder when there’s so much advertising in so many places that it seems we never get a break from it. Guerrilla marketing breaks through all that clutter by being different. Not just different from your competitors, but different from its own past.

<strong>How Can You Use Guerrilla Marketing?</strong>
You can use guerrilla marketing to get the scattered attention of your target customers by becoming a bit more creative in the ways you reach out to them. Surprise them. Capture their interest. Offer something of real value.

Remember guerrilla warfare. You can’t rush success. Guerrillas knew that. Civilians battling a superior force with superior arms would spend years, decades, even generations fighting for what they believed in with whatever means they had. Take a lesson from them.

First, know that your business is worth fighting for. Second, you won’t win the success you want instantly. Third, you need to build your credibility with your target audience (i.e. the civilians you’re saving), not with your competitors (i.e. the superior force).

With these three things in mind, break out of the marketing box you’ve fallen into and prioritize communicating with your customers. Surprise them with how helpful, genuine, and trustworthy you can be. Sabotage the competition by offering a better value with better intentions. Don’t be afraid to blend in and mingle with your customers. After all, they are the only ones who really matter. Be one of them. Help them. Build a future with them.

This isn’t a battle for sovereignty or freedom. It’s a battle for the hearts and minds of your customers. The secret isn’t a parlor trick or a timely fad. You can’t take their trust. They have to give it to you. You have to earn your customers’ trust. If you can do that, then you can evolve into the future with them right by your side.

Emotional Advertising

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Most advertising today is of the “me too” variety. When you’ve seen one, you’ve seen them all. The louder they yell: “LOOK AT ME!” the faster you want to toss the ad in the trash, change the channel, or click delete.

Open the yellow pages (if you can still find one!), look inside a magazine or newspaper, listen to a radio ad, watch a TV commercial, or take a look at your mail. Can you see any difference between most of the messages you encounter? Very few of the ads truly stand out.

Why does this ineffective method continue? Because competitors continually monitor each other. They conclude, without any real proof, that the competitor’s ads must be working. So they copy each other.

The line of thinking that goes with this method is to hit the audience over the head repeatedly until they cry uncle and buy something. This might work for a company with a massive advertising budget, but it is ineffective for smaller budgets.

If you want to create real wealth and grow your business, dump this method of old school, lazy, traditional thinking.

Start by taking a look at the most critical aspect of any advertising campaign: the message itself. Most ad copy lists a series of features. The better ones will also list some of the benefits you get from those features. But there is still something missing to make it stand out.

Most of us believe that we, as smart shoppers, make our buying decisions based on left brain logic. That may be true when we first start looking at a product or solution, but study after study has shown that most buying decisions are ultimately made with the right brain emotional side.

The way to hit a home run with your marketing messages is to appeal to that emotional side when prospects look at your product or service. To determine what emotional triggers work for your business, you’ll need to get inside your product or service to pull out what real solutions it provides. But that’s just the start. Next, you’ll have to tie the solution you provide to an emotion your prospect may feel about it. What pain does it solve?

The more emotion you can weave into your ad copy, the more effective your ad will be.

As an example, think about the luxury car market. Specifically Mercedes-Benz. Logically, it makes little sense to spend well over $60,000 to buy one of their higher-end models when a vehicle for less than half the price can get you from point A to point B just fine. How do they overcome this sales problem?

Sure, they provide a list of bells and whistles fit for a NASA space shuttle, but that’s not what really sells a Mercedes-Benz. The way they sell one is to appeal to the emotional part of the brain. The ads paint the picture of a countryside drive, sitting inside a quiet cockpit, where you can almost smell the luxurious leather. You can see yourself zipping around the curves while others look at you with envy. Mercedes-Benz is selling status, not just another car.

Emotions drive our purchasing decisions. We all tend to buy products from brands that make us feel good about ourselves or enhance our sense of self-esteem in some particular way.

Emotional advertising is not just for big brands with big budgets. It takes a little mental work to get to the message that will resonate for your audience, but the effort is worth it. Once you get to the core emotional hot buttons, your business and marketing messages will truly stand out from all the clutter.