How do you develop a business strategy that constantly sets your business apart from the competition?
The answer is…
You let both your customers and employees tell you how!
What does that mean?
Ask your customers why they chose your business over your competition.
Do they chose your business because…
- your service is better than the competition?
- your prices are better?
- your location is easiest to get to?
- your employees know how to please the customers?
- your selection of products are better?
- Your payment terms are favorable?
- your products and service improve your customer’s image (exclusive)?
- Are you save customers money?
- You allow your customers to become wealthy?
- Do you improve their health?
- You make them more attractive?There are four basic needs that all humans have they are Reward, Recognition, Reincarnation, and Recreation. These basic needs are the driving forces that cause people to make buying decisions.
They should also be the basis on which you build the strategy in your business.
Determining an Effective Strategy for your business!
If you ask, your customers will define your strategy clearly. But, you must ask. How will you ask your customers? You are limited only by your imagination!
Here are a few recommendations:
Follow up calls after a customer has purchased.
Postcards sent to ask for feedback on their buying experience.
Formal and informal meetings to let customers speak freely about why they patronize your business.
Face-to-face (with your sales personnel) ask for feedback.
Send a survey with your invoice.
Require the person who works in accounts payable to ask for customer feedback.
Set up regularly scheduled meetings with your sales personnel. If they are in continuous communication with your customers they will be able to provide the reasons customers chose your business over the competition.
When you are collecting payments (if you offer terms) customers are most vocal about what they do not like about your business. This is information you can use to make positive changes.
Determine what your competition is doing that attracts and retains customers. Do not feel uncomfortable in duplicating what works effectively.