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Competitor research, critical to success
It’s impossible to effectively sell or market your services unless you have researched and understand your competitors. You need to know what they offer, what guarantees they provide, their pricing and/or fee in order to make your offering the most attractive to potential customers.
In our experience, business owners assume that the service they offer to potential customers is superb; when in reality it’s probably pretty average, when compared to what their competitors offer. A reasons for this, is that a key way service providers gather feedback on their competitors, is by speaking to former customers of their competitors. A builder, for example, speaking with the disgruntled, former customer of one of her competitors is likely to get a very biased, worst case scenario view.
Don’t forget – you have online and offline competitors. Offline competitors are your traditional ‘street view’ competitors, but your online ones are those that are competing with you in rankings on search engines such as Google.
The key is to find out what you’re really up against and then beat it by adding more value.
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