What is your competition up to?

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 What is your competition up to?

This is  the story of me waiting to meet with a client. Whenever I go to meet a new or existing client, and I have to wait to talk to the client in their waiting area, I try to flip through the publications they have in their waiting area. This gives me insight to my market in 3 different ways.

1. What subject matters are relevant to my clients?

2. What type of advertisements does the customer find easy to read?

3. What does my competition feel are the marketing strategies to put in front of the people that I am already selling to.

In my opinion the last is the most important, advertising your strengths to existing customers, is the best approach to keeping your business stable. Also its not a matter of playing defensively when its the cheapest form of advertising. It costs less money to preserve a client relationship in advertising expenditure than to excite a new prospect in to buying or retaining your services.

Fortunate I market to an extremely confused market by always being the same awesome company with the same awesome services! I don’t believe in gimmicks, but believe me, that was a hard lesson to learn. In fact, my first consulting company failed before I realized that my lack of direction was putting clients off. Instead of constantly selling, doing sale specials, and bending over backwards chasing new clients; I needed to open a clear and consistent path of communication with current clients.

For example, lets look at this new company to the market. While their advertising experience is obviously new by their not slipping extras beyond a listing category, their name suggests a definite strategy of their business. I was on SR Systems last week, and they were telling customers that they had a 1 week turnaround for an in shop repair. Obviosly, “Jetmobile” wants to capitalize on this quickly with 2 approaches, 1 playing to a customers’ desire for immediate gratification of a repair, and a customer’s unwillingness to deal with the cable mess of disconnecting their computer and bringing it in repair

This gap being expressed, and in person experience directs us that there is an obvious customer expression if this gap in the market. In our case we take this direction as a call to action re re-emphasize something we have been doing, but forgetting to sell to customers; We have a < 24hr turnaround with onsite repair. This isn’t a new strategy in our case, customers have already seen it, so they are more likely to resell it when they are reminded in our newsletters.