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Know Your Competition
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Hi and welcome to How to beat the competition in business.

Here at Smart Laptop Lifestyle my aim is to show you how you can become financially free working from home.  Show you that it is possible to create an income generating website.


 

Know The Competition

 

Knowing how well you are doing in your business will be much improved by getting to know the competition.

Getting to know the competition will involve learning as much as you can about them as you can and what they are doing and how they are doing it.

Find out what events they go to because that is where you target audience will be.  Also check out forum in your niche and see what is going on there and what they are talking about and how you can help them.


How are You Different from the Competition?

You will need to figure out how you are different from the competition and if you are offering the same as the competition you will need to become creative.

Normally most people will automatically look at pricing and lower their price to that they may beat the competition on price.

To be honest this is so overdone and does not make you different it makes you the same as many others in your niche and you may not be the cheapest and that will mean to sale.

Plus, although price is a factor it is not the deal maker.

You will need to get creative and find out how you can stand out from your competition and stand out from the crowd.

If you are offering a service like say a wedding planner you could offer last minute wedding planning.


Look for a Group that is Under-served

This is connected in some way to finding something unique about yourself.  When you find the one thing that makes you unique in the way that you will be offering your service, then look for an under-served group of people that you can offer your service to.

Find that one thing or things that your customers are looking for and be that thing or things.  Give them a great customer experience, connect with them on an emotional level.

A great example of this is Starbucks.  Starbucks did not invent coffee but they give their customers a coffee-house experience in a cup and branding it as a lifestyle.  Now that is creative.


Know your Target Audience

Know Your Target Audience

It is also important to know your audience and whilst you are finding out what makes you different and stand out from the crowd.

Knowing your audience will help a great deal in developing your brand.

You will also be able to make your content talk directly to them and communicate things that they will find value in. It will also help you in knowing where to find your target audience and in building a solid marketing strategy that will get their attention.

Building a solid marketing strategy will be great in helping you create content that will appeal to target audience and will add value to your brand, because you know exactly who you are talking to.

For example if you are selling broadband to people on high income and concentrate on selling at the lowest price, you will be missing a trick because you are selling to the wrong audience.  This high earning target audience are not interested in the lowest priced broadband, they are looking to high speed and high quality and will give them smooth seamless streaming and will pay the price for that service.

Do you get the picture of how important it is to understand your target audience?


Make Strategic Associations

Right now that you have figured out your target audience and understand their needs and the unique way that you will approach them.

You have put together a plan of how you are going to reach them.

Now look for ways that you can add even more value for your audience.  You can do this by making strategic associations with affiliate programs that will have relevant products and or services that will compliment your business.

This can really increase what you are offering your target audience and possibly give them something that you competition haven’t thought of yet.

You can find out more about affiliate marketing here.

 


Catch Your Target Audience Off Guard

So what do I mean when I say catch your target audience off guard,  Well it is a well-known fact that people do business with people they know, trust and like.

An easy way to do this is to say something that they would not expect you to say.  For example you could admit a benefit of one of your competitors by saying something like, “If you are looking for a larger company offering X service and or products, then X is the best.  However, if you’re a small start-up business and you are looking for something different and a more personal touch from someone who knows what you are going through, we are it”

You see when you admit something that is not expected by your audience, like giving a compliment to your competition, this will establish trust.


Personalise – Be You

Another important point about finding your ideal audience is that once you know who they are you can then personalise your approach to them.

When you find out what they are interested in and what worries them you can then develop solutions to their problems and find where they hang out on social media and forums and personalise your messages to them.

Once you have this information you will them be able to write like you are talking directly to them and this is important because then you will stand out from all the other people and noise.


Saves You from Wasting Your Time on Bad Fits

Another reason for knowing your target audience is that it will save you a lot of time because now you know who is not a good fit for you and your business.

By not knowing your target audience you will spend a lot of time trying to make the wrong people happy with what you are offering and this could cost you time and money in doing so.  Along with making yourself miserable in the process.  It will take the fun out of running your own business very quickly.

Focus on your target audience and don’t worry about the rest and don’t worry if no-one else is listening to you.

This way your time will be spent more effectively.


Get Rid of the Sales Pitch

Get rid of the sales pitch it is so out dated, instead look to offer a service or helpful information.  Offer valuable resources and personalise your approach and be as helpful as you can.  People do not want to be sold to.


Keep Your Website Updated and Current

Did you know that today people will research you before they approach you?

About 81% of customers will research a product online before they buy or talk to a sales person.

This is why your website is an essential part of your business.  Your website should be easy to navigate around and find information.  If your visitors find it hard to find their way around your website then they will keep moving and go to another website.


Final Thoughts

When you have mastered the above you will realise that just using these useful tips will keep you in good standing for running a very successful business and when your target audience visits your website it will be more about your skill and talent and less about the cost of your service or products.

If you are thinking about building your very own income generating website and would like to get step by step training to help you build a solid foundation for your business.  Then you maybe interested in this.  Click here for more information.


 

Thank you for visiting How to beat the competition in business

Here at Smart laptop Lifestyle as I mentioned above is to show you how you can become financially free work from home doing what you love.

Show you how you can have you very one income generating website. Working the hours that suit your lifestyle.

Thank you for reading and if you have any questions or just want to leave me a comment, please feel free to do so in the comments section below.

I would also really appreciate your liking and sharing this article.

Thank you

Jennifer


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