You know that big, intimidating competitor in your market? I’m talking about the one who’s eating up the market share and gnawing away at your profits like a flesh eating virus. What if I told you that you could beat that monstrous competitor off your back and create a thriving brand with a following of loyal customers who would never dream of “better dealing” you for the competition? PPC marketing coupled with email marketing, direct mail and a couple of other strategies can make this happen.
#1: Customers first, Profits Second
Most small business owners are anxious about investing money into customer acquisition because they’re too dependent on new sales as a means of maintaining cash flow. Meanwhile, there’s almost always a larger company who is willing to acquire customers at a loss, making it harder for the little guy to compete. But have you ever thought about WHY these big companies have such big marketing budgets? It’s because they have loyal customers who keep buying from them. They have aggressive campaigns for marketing to their existing customers to increase retention and repeat business.
They know something that the rest of us usually ignore…a very simple fact about marketing. They know that it’s much less expensive to market to an existing customer than to persuade a new one. So the first step to beating out that big competitor in your niche is to shift your attitude about customer acquisition. Don’t think of it as a means of making profits, think of it as a means of acquiring a new customer. If you follow the next two steps, this approach will make perfect sense.
#2: Beat them On Customer Service
Most large companies aren’t nearly as good as small companies when it comes to building client relationships. They outsource their customer service to automated ticketing systems and make it a hassle for the customers to speak with a live person. Some of the largest companies in the world are doing this, and as a consumer you know how frustrating it is to work with a company who doesn’t want to be bothered with customer service calls.
This is your biggest advantage over that big competitor in your industry. Take some of the time and money you’re investing into marketing for new clients and redirect it into building an amazing customer service strategy. Your goal is to have your customers so happy about your customer service that they’re willing to pay MORE money to work with someone who gives them the TLC they want.
The better you are in customer service, the easier it will be for you to retain your customers and to offer them new products and services. Many times, you can use your email marketing and direct mail to send them offers for products in vertical markets instead of marketing your own products. If you have a trustworthy reputation with your clients, they’ll be more likely to buy products from you and from your JV partners.
#3: Get Your Customers Working for You
If your customer service is outstanding, you only need one more strategy to take down the competitor in your niche. You need a strategy for soliciting customer reviews and publishing them on places like:
• Your website
• Your PPC landing pages
• Your direct mail pieces
• Your company newsletters
Imagine this: you have dozens of positive customer reviews on all your marketing pieces. Meanwhile, your competitor only has a few. Who would you choose to do business with? Again, most large companies aren’t as good at relationship building as smaller companies, so if you use this to your advantage you can build up an army of online reviews which will help you close more new customer relationships. Just check out your big competitor and see how many online reviews they have. You might be surprised.
Are you starting to see how you can leverage relationship building to make your customer relationships more valuable? Then, you can raise your bid amounts on your PPC ads and take bigger risks when attracting traffic because you’re leveraging customer reviews to increase conversions and building relationship which will make ALL your new customer relationships more profitable.