Maintain the Competitive Edge in Your Business

These days it can be confusing for business owners to figure out how to maintain a competitive edge. I hear people talk about how they need to learn more about social media in order to compete. The pressure of this seems overwhelming for many.

Let’s get back to the basics. It starts with the best customer experience. When customers are happy they become fans. Once they are fans they tell others. Once they tell others you gain more business from them and those they refer. Having a great foundation to your business is the biggest priority because if you don’t truly know who your fans are then social media or any other type of marketing isn’t worth the time, energy and money you invest. Many businesses get off track because they think “everyone” could be a fan.

Being clear about who you fans are is critical to having a competitive advantage because once you understand who these buyers truly are, you can customize your marketing message to them. This message may be in person, over the phone, in your advertising, and through online marketing channels.

When you know who your fans are, you can stay on top of their changing needs. When you can meet their needs as they ebb and flow then you have a competitive edge. Listening to your fans is important.
The more concentrated and clear your message is to your fans then the greater the competitive edge.

As a recap, here are the most important points:

1. Know who your customer and create the best customer experience
2. Customize your message to existing customers through all marketing channels
3. Be willing to adapt you product and/or service mix to meet you customers changing needs
4. Stay the course with your existing customers will give you a competitive advantage
5. Grow you customer base based on nurturing relationships with existing customers and their referrals

Jen DeTracey is the founder of Lift Strategies and one of Canada’s Top Marketing Experts. She is the innovator of the LIFFT® Process which shows small business owners how to tweak their operations, develop customer engagement strategies and promote their business. You can subscribe to Jen’s Quick Tips. find out about her Virtual Marketing Program and buy her new book, Lift Strategies – Quick Tips to Engage Customers and Elevate Profits.

Jen DeTracey

Jen DeTracey is a Strategic Alchemist for Lift Strategies. "My focus over the past 25 years is to really drive home the importance of customer retention and getting new customers efficiently. It’s about nurturing your fans and attracting new ones. If you don’t have a system in place to keep customers, you can’t go out effectively get new ones.” Jen offers in-person and phone consultation, keynote speaking, half day training, her “Lift Strategies” book and the "create your customized marketing action plan" through a personalized one to one telephone/online program.

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