“You may have done a good job building marketing, but your offer may still be inferior!”
“Scout The Competition! Never ever… ever… ever… ever…
… deploy your marketing until you scout the competition first!”
Never go into lead generation battle without “Scouting The Competition” first. The sad part about common business mistake is that scouting the competition is very easy to do, yet most business owners don’t add it to their standard operating procedures as part of their marketing execution plan.
Scouting your competition should never be brushed aside if you want to win in the marketplace. I think if I paint the picture for you, it may begin to sink in better. Lets just say that you are going to attack an opposing militia that is keeping you from what is rightfully yours (new customers).
Lets say that you have built an attack strategy to get a competitive advantage. For the sake of argument, let us also say that your plan is a good one by most standards. Let us say that your timing is right, your body count estimations are right and swords are your weapons of choice. Let us say that you decided not to use your spy to assess your competition before going into battle.
Today you go into marketing battle! Your plan is in motion. You have won the element of surprise, your troops match theirs and you attack swords drawn. Now imagine your troops with everything in place to succeed except they are face-to-face with the enemy that has guns drawn to defend their turf. How do you think this story ends? Let us just say “Not well!”
The question here becomes, could this have been avoided? Of course it could. Your successful outcome could have been eminent if you would have just scouted the competition. You ended up with marketing heartache, but you didn’t have to. You fell short and it cost you and your troops (time and marketing money) their life.
Why? Because you did not scout the competition first to see what you were up against. The good news here is that you will not lose your life. You did lose the ability to get more sales by spying on your competition to see their offers, their follow-up, their selling propositions; in order to know what you can do to make your offers better with clarity. The result was lost time, money and most importantly was that you lost sales.
Shouldn’t you know your competitor’s price? Shouldn’t you know your competitor’s follow-up comes with calls and emails? Shouldn’t you know that your competitor bundles other services into their offer for free? YES! Of course you should! The big bottom line here is to understand that your marketing can be better and can be more engaging; but if your offer is inferior, then you’ve put your new customer sales in harms way when you didn’t have to. SO……
….Your big Business-Non-Negotiable to cement into your business brand, marketing and growth strategy is to “Always Scout The Competition” before you deploy your customer acquisition strategies. The bottom line here is that you need to see what the competition is doing, offering (so your offer is better), how they are reaching customers and build a better plan/offer that brings customers to you versus the competition. Remember that you are always competing for customers and marketshare and your branding and marketing will never stop improving.
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Jason Palliser has trained real estate investors nationwide for over 13 years on investment financing strategies. Jason has delivered investment financing strategies trainings for leading national educational companies including Donald Trump University, Robert Kyosaki Events, Wealth Intelligence Academy, REI Conferences and many more real estate offices. He has been ranked of the Top 100 loan originators in the United States for closings per year, as noted by Mortgage Originator Magazine.