Sales & Marketing Authority, Bestselling Author & Business Motivational Speaker

Unless your business deals with a newly invented product, or you’re truly a business revolutionary and you’re operating in a marketplace by yourself, chances are that you have competitors in your industry. Depending on your industry niche, they may be direct competitors, who offer an identical or similar product, or they may be indirect competitors, who offer a different product but offer it to the same group of potential clients as you do.

One of the hallmarks of a great business person is how they respond to competition, how they rise above the challenges presented by it, and how they make their business stronger and more competitive in the long run.

Know your Enemy

When a new competitor enters your marketplace, the first step is research. Look at what they’re doing, and how they’re trying to take your customers. In any case, the key is to explain why your product is better, not what your competitor’s product is worse. Bad-mouthing your competitors makes you sound childish, and puts you on the defensive. Instead, just explain why you have the best solution on the market.

Just as important is knowing what your competitors are doing – what services are they providing, where are they advertising, how are they trying to reach your customers, and where do your own marketing efforts overlap with theirs. By understanding exactly what the competition is doing, you stand a much better chance of outmaneuvering them and putting yourself into the most profitable piece of the market.

Keeping your Customers

The key to preventing your competitor’s making inroads into your customer base is by building and maintaining relationships with all of your customers. Of course, this is something that you should do all the time, but is especially important when a new competitor is courting your customers.

Customer relationships are built on two pillars – loyalty and incentives. Loyalty is getting to know your customer, and getting them to like and respect both your business and your product. Loyalty can be analogized to the way you might feel about your favorite restaurant – you keep going back because you know what you’re going to get, and you like it.

However, when you’re confronted with serious competition, your relationships need to go beyond this. It also needs to make financial sense for your customers to stay with you. Provide your loyal customers with incentives – free products, free upgrades, anything to make them know that you appreciate their continued business.

Rise above the Competition

The last thing you want to do when confronted with competition is fight them directly. This will only make you look bad, and cut into your profit margins. The key to beating the competition is rising above the competition. Focus on your unique selling point – what makes your product better than everything else on the market – and stick to it.

Happy marketing!

Sean

Sean McPheat

Marketing Consultant – Sales Expert - Motivational Speaker

In today’s marketing world of high-powered ad campaigns and high-tech internet marketing, its easy to overlook to lowly telephone. However, this simple device is still the lifeline of most business, and its often the best way to communicate with current and future clients.

People respond much better to a phone call than they do to a lot of other sales devices. Not only is a phone call much more personalised than, say, an email or a Facebook wall post, but it gives you an opportunity to tailor your speech to what the customer wants to hear, and gives you an opportunity to overcome their objections.

However, as powerful a technique as the phone call is, it also provides you with considerably more opportunity to alienate your clients that you get with most other sales techniques. Follow these three techniques to optimise your results when calling clients over the phone.

Bypass the Guards

As they say in sales, timing is everything. This is true in the most literal sense when you’re dealing with telephone marketing. The time of the day that you call can make or break you chances of success.

If you are calling a new client while they’re at work, you run the risk of getting stopped by gatekeepers, particularly if they’re a busy professional or manager. Gatekeepers are the secretaries and administrative personnel who surround your potential client or partner, and insist on taking a message. Bypass them by calling after before 9 am or after 5 pm. They’ll have gone home, leaving your client to take calls for themself.

Avoid Calling Your Clients at Home

Lastly, you run a risky gambit by calling people at home after work. People’s schedules vary widely, and you can never be sure that you’re calling at an appropriate time when you reach someone at home during the week. Calling a client during dinner or while they’re unwinding later is one sure fire to ruin the relationship. Unless it’s an emergency, save it for the daytime or the weekend.

Always Smile

Its sounds silly, but make sure that you’re happy while you’re talking to your clients. You can project confidence and enthusiasm through the telephone, and a lot of this is controlled by whether you’re smiling and thinking enthusiastically about building the relationship or selling your product.

On this same note, make sure to sound professional. Even more so than in face-to-face conversation, you can’t rely on pauses like “um” and “uh” to break up your sentences in a telephone call, and you must remember to be polite, and fill your speech with “thank you” and other words of consideration.

By following these few simple tips, you can improve your existing client relationships, and build new ones, over the telephone.

Happy marketing!

Sean

Sean McPheat

Marketing Consultant – Sales Expert - Motivational Speaker

Much like the complaint and suggestion boxes of yesteryear, the internet is, among many other things, a place where people gather to complain about things. Movies, music, politics – think about how much of what you see on the internet is negative reactions and reviews. You can use this to your advantage in looking for ways to run your business more effectively.

To take a simple example, imagine that you were running a hotel. In looking to make your hotel the best one on the market, you could go onto a site like orbitz or expedia, and look at the reviews of your competitors, the other established hotels in your area and price range. However, by focusing on the lowest reviews, you could find exactly what customers didn’t like about the hotel, and find ways for your product to pick up on opportunities that were missed by your competitors.

You can do this in any industry, and with any type of business. It’s just a matter of knowing where to look, and how to properly turn the negative feedback into useful and constructive advice.

Begin by knowing where to look, and what to look for. This depends primarily upon your industry. There are hundreds of industry-specific review websites and social networks out there, some of them better known than others. Twitter and Facebook are obviously great places to start, as are social media sites like Yelp, provided that they are relevant to your industry.

To find additional review sites, just browse through what people are linking to on Twitter and Facebook, or do a Google search for “your industry + reviews.” You’ll be surprised just how many sites there are out there.

Once you find negative feedback, you’ll need to incorporate what you’ve learned into your business. So if you see a lot of customers complaining about a business practice that is common in your industry (even if the complaints are specifically directed toward your company), then you know to change that practice. For instance, if you see a lot of complaints about online marketers sending out too many useless emails, you might want to take a step back and think about whether you’re personally guilty of that sin.

On the other side, if you see a lot of people complaining about something that doesn’t exist, then you may have found a niche for your business to profitably expand into.

At the end of the day, it’s always good to know what customers are saying about your business, and the other businesses in your industry. And considering that people are 10 times more likely to post a negative comment than a positive one, looking for negativity is a great way to start.

Happy marketing!

Sean

Sean McPheat

Marketing Consultant – Sales Expert - Motivational Speaker

As true as these two rules are for marketing, they are also just two general guidelines for life, and should best be applied every time that you leave the house. However, today we’re going to discuss their applicability to the marketing world, and to your marketing campaigns.

As a general rule, creating interest in your product is among the most surefire ways to drive an increase in traffic, and to ultimately drive an increase in sales. Being interested means showing that you care about your customers, and making every possible effort to engage them and please them.

Be Interesting

While it’s never been easier than it is today to create an interesting product, and to generated natural interest around the product, there’s also never been nearly as much competition as there is now.

YouTube is the perfect example – while the popular video-sharing site has made possible the previously unthinkable idea of creating and distributing a video advertisement with no cost associated except the time that it takes you to product it, it has also driven allowed your competitors access to the exact same set of tools.

The key to creating buzz is indirect advertising. In this age where one can access nearly everything they want, totally free of charge, nobody wants to watch an advert. Instead, create a funny or informative video or article, and just include a link to your site. If you can be interesting enough that people share the article, then you be sure to have some of the excess interest spill over onto your website.

Be Interested

However, it’s not sufficient to just be interesting. You must also be interested in your customers. Thanks to the rise of the internet, its now possible to do this better than you ever could before.

Set up a blog and a Facebook fan page where you can see what your customers are saying, and where you can respond to them directly. Modify your marketing efforts to more accurately target your customers, and change your products if your customers are looking for something different.

The rule of being interested also applies to competitors within your industry. Read their adverts, both online and off, to see what they are doing, who they are targeting, and how they are doing it. Read the blogs of industry leaders, comment on them, and share their insights via your Facebook page.

By showing interest in your industry, you’ll not only learn more valuable information, but you’ll ultimately draw more attention to your own site, and your own products. And as we all know – more attention means more sales.

Happy marketing!

Sean

Sean McPheat

Marketing Consultant – Sales Expert - Motivational Speaker