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Secrets
Although we usually see our competitors as a threat, they can also be incredibly useful. Watching what they’re up to means you can learn new techniques to market your own products and services and keep you one step ahead.
Start by deciding who your competitors are. You may have to carry out a bit of research to do this, but that in itself is always a useful exercise. If you’re not sure, try looking in your local Yellow Pages or on the internet, by searching for other people who sell the same products and services as you.
Once you have your list, take a good look at any of their marketing material that you can get hold of and see how it compares to your own. You can check their prices, their offers and their general style to get a feel for how they’re communicating with your potential customers. Then it’s your chance to keep one step ahead! If your closest competition has offered a price discount, what can you offer that’s better? Maybe you could add value instead with a guarantee or something that shows that your service is second to none …
You may need to be a bit creative to stand out from the crowd but keeping an eye on your competition puts you in a much stronger position. Sometimes you might even find that it makes sense to contact them with a view to working together – they could have strengths that complement your weaknesses or the other way around. Joining forces can provide a powerful solution for both of you if the situation is right.
Our final tip is to keep on doing it! Your competitors should be watching you at the same time - so they will change their tactics too. Making a regular check on them means that you will learn more about your marketplace and so be able to improve your marketing.
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