Set Your Business Apart from Your Competitors

Your business should have something unique about it that sets it apart from the competition. If your business appears to be just like every other business in your industry, then there will be very little reason for customers to choose you as opposed to one of your many competitors.

When competing businesses have no distinguishing benefits to set them apart, when they all offer basically the same products or services, the same customer service, etc. then customers will tend to compare those businesses based on price along - lowest price wins.

Here are some of the ways you can set yourself apart:

1. Focus on a Particular Niche - perhaps you are a photographer that specializes in food product pictures or corporate photographs for annual reports. If you are a fitness instructor, you could focus on helping keep business employees fit or you could be the personal fitness instructor that focuses on high level business executives.
2. Become the Low-Price or the High-Price Leader - design your business to provide good products for an extremely economical price. Your company would be committed to providing excellent savings for your customers. Or you would take the opposite route and become the high-price provider. Obviously you would have to target a completely different market segment than the low-price leader.
3. Offer Excellent Customer Service - set your company apart by providing exceptional customer service. Make your customers say, "Wow!" whenever they do business with you. This is one of the best ways to set your business apart from the rest.
4. Offer a Unique Advantage - if you are a dog groomer, perhaps your unique advantage is that you will come to your customers' homes and groom their pets there. If possible, a lawn care service could offer a special treatment to keep their customers' lawns greener longer. If that service is unique to their company, they have set themselves apart from their competitors.

In conclusion, determine what sets YOU apart, and then constantly look for ways to talk about it!

Think Ahead to Retain Your Customers

Customer loyalty is not always what it used to be, or what we might imagine it should be. Therefore, every possible thing must be done to maintain your relationship with your customers, and retain their business.

"You need to give your customers something of extra value if you want them to return," says international hospitality consultant Linda Novey-White. "Look at your business like a customer would. What could you be doing better, and what is your competition doing better?"

Start by anticipating your customer's needs. Think ahead to what they may need in the coming months and determine what you can do better. Also be aware of trends that may influence your customers' purchasing decisions. You can then adjust what you offer, to suit the changes in the marketplace.

One of the most important and cost effective thing you can do is to simply ask your customers what their future needs will be, listen carefully, and make sure you call or return at the right time, and with the specific offer that will help them the most.

Add a personal touch to build a stronger bond between you and your customers. Give thought to how you can make every transaction something special, unique to that individual or company. Know their preferences.

Say thank you after doing business by sending a personalized card, gift basket, or floral arrangement.

Send them news about your industry, or an article that you come across which you feel they may find interesting.

In conclusion, always return phone calls promptly, and do what you say you are going to do. Novey-White says, "Delivering a product or service that disappoints is the fastest way to lose your customers."

Five Things to Know Before You Spend a Penny on Advertising

Every year companies around the world spend 100's of millions of dollars on advertising...and much of it is completely wasted. Here are five things you need to know before you spend a penny on advertising.

1. What is advertising anyway? "Advertising is creative bragging."...that's it! Many companies think that they have an advertising problem when, in fact, what they really have is a fundamental marketing problem. They aren't doing anything worth bragging about.
2. Get good...then brag! Don't brag and then try to figure out how you're going to pull it off!
3. Don't lie! People aren't stupid. For almost a year there was, in the Toronto Airport, a big backlit ad for a chain of mediocre hotels that said, "You won't find any nicer hotels in Canada." This is a lie...and everyone who has ever stayed in one of their hotels knows it.
4. When you're delivering compelling functional, emotional and financial value to well understood target customers, the process of creating effective advertising is actually pretty easy. If you don't know...

• Who your target customers are,
• What they really value,
• How best to reach them...and,
• What your compelling message will be,
• ...you're not ready to advertise.

5. Your most powerful and cost-effective advertising is the enthusiastic recommendation of delighted customers!

People love "showing off" when they find a wonderful product, service, restaurant, lawyer, accountant, hair stylist, etc. It makes them a "big shot" with their friends. Plant the seed by asking delighted customers to recommend you. Tell them, "You'll be a hero...your friends will love you!"

Advertising only works if what you say about yourself is congruent with what "others" are saying about you. So, if you're saying that you're "the best" while previous customers, the media or respected authorities are saying that you're not...you're wasting your money. Remember, "Get good...then brag!"

Advertising is so expensive that it only makes economic sense when you're good enough to achieve "leverage". "Leverage" occurs when the value and experience that you actually deliver is so wonderful that every new customer that your advertising attracts enthusiastically recommends you to at least four other people! If you're not good enough to achieve that kind of "leverage", you can't afford to advertise!

So, are you ready to spend big money on advertising...or, realistically, do you have some work to do first?