Competitions are inevitable for any business in the market. Sometimes it can be unpleasant especially when you are on the losing side.
But if you want to grow your business, you certainly need more customers or clients. The best option is to target the segment of customers that are unhappy with their current brands or companies.
In order to attract new customers to your business, you need a full proof plan or a well-defined market strategy.
Come up with ways to provide the customers with compelling options so that they switch to your brand. You need to put a lot of efforts because the customers need to come out of their comfort zones to switch to a different brand.
Know what your competitors are offering and keep holding on to your existing customers. Before you initiate your marketing plan, ask yourself the basic question, ‘Why should the customers be attracted towards your business?
The powerful tricks that you are going to read will give you progressive and innovative reasons that will necessitate your customers to your brand and business.
Listening to the market or in other words analyzing the market trend is the key to understanding the customer’s need. Know about the ongoing competitions in the market and keep an eye on your rivals.
Do you know where your departing customers are going? Have clarity on these questions, instead of simply making assumptions. Visit the websites of your rivals and discover they are offering to their customers.
According to JC Carlson who is an author of Work like a Spy, "Have an ear to the ground … attend awards dinners. Listen to the gossip; it often has a lot of merits. When you know your competition's strengths and weaknesses, you can beat or counter their offers.”
Apart from keeping your ears open to the market, know about your customers. Build your customer personas, which would mean discovering their likes, dislikes, habits, comforts, age, gender etc.
These are the demographic features that directly or indirectly affect your selling process. And once you are done, you can use these customer personas to attract your customer exactly with the products they are looking for.
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Businesses need to extensively research the market to redirect customers to their brands. One way can be to dig up information about your competitors.
Mike Michalowicz who is the author of ‘The Pumpkin Plan’, suggest that some companies that are out of business still have their contact numbers on the web and posters pinned up on the billboard. You can take advantage of this situation by calling these available numbers.
If the number is no longer in use, you can get these phone numbers re-directed to your business. This way you are letting the leads come up straight to you.
Another great way would be to deploy some legal spy tools available in the market, to draw conclusions for your business based on the rival’s publicly available information.
Do small favors for your potential customers to make them feel that they will have an advantage by switching to your brand. Michael J. Montgomery suggests that doing favors for the leaders of companies whom you want as clients can be a wonderful way of attracting potential customers.
It would put you in the position of their best alternative when they are unhappy with their existing providers.
Providing incentives can help you retain your existing customers. You are preventing your existing customers from departing by providing them something tangible.
Also, you are also adding more potential customers by the marketing efforts of your existing customers. This follows the principle of reciprocity. Companies like Dish, provide incentives such as free headphones, by asking their existing customers to refer their brand or a scheme to two or more potential customers.
This technique basically motivates the customer by giving them favors in return for another.
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Most of the customers don’t get the attention they want from their current vendors. Target these customers as they can switch to your business easily when provided with attractive choices.
Go ahead and tell them that you feel their pain and completely understand why they are disappointed with their current choices. Serve these customers with compelling offers and address their needs at the right time.
Offer your customers guarantees. How about providing an insight of your happy customer data to your potential customer? Lend a helping hand for any of the tasks involved, when customers are switching from their old providers. This would make switching to your brand, a hassle free and less risky task. In other words, make your customer feel admired and loved.
What about providing your customers a little edge over the others? Customers look for the best customer service in a brand.
For example, in most of the cases, you would prefer to purchase from a store that provides free delivery of products along with hassle free returns.
So why not add a unique feature to your existing business plan? You can throw in free home delivery, vouchers, longer warranty, easy returns policy or a free gift.
Give your competitors’ customers options to switch over to your brand. Provide them with easy one tap payment options or an online wallet where they can keep their money safe for purchase on your website or mobile app.
Companies like Bookmyshow, and Paytm provide customers with an online wallet feature. This makes your business stand out with a distinguishable customer experience.
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So, begin with knowing your customers well and providing them with standing out and edgy reasons to switch from their existing providers. Your unique selling proposition is the heart and soul of your company.
It is the reason why your existing customers prefer you over others. Make sure that you make your USP ferocious and clear for the customers to understand.
Consider the great job done by the Dollar shave club by broadcasting its USP to the customers.
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Thus, always remember that if you do travel an extra mile to provide your customers with extraordinary customer experience, you are entitled to earn mouth to mouth marketing.
Happy customers are bound to tell their family, friends and even mention it on social media about their content and satisfying experiences. This will ultimately earn you customer loyalty a reason for your customers to switch from your competitors.
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