Can you attract at least some of your competitors’ customers? The market is probably already divided, so you have to deploy the extra effort in order to grab some of them. When doing this, think long-term. Offer a deal or experience that is better than the ones they are currently getting. Small financial outlays at the beginning pay off, especially if some of the newly attracted customers become your loyal customers, claims the businessknowhow.com website.
Get to know who you compete with
Reward everyone a discount, who brings your competitor’s newspaper ad or detailed product literature. You can also offer your services when your competitors offices are closed. Try to display your ad in a place close the customers as they leave the store or branch. This way, you may catch some angry or dissatisfied clients who might be considering changing.
Differentiate your brand and services
Always make sure everyone knows how you are different You have to show customers that you are not only different but better. Explain why you are different and better. Be specific, because vague slogans are too common.
Attend community events
Rumors about you are great. Regularly show up and talk to colleagues at industry and community events. You can learn some valuable information. However, you must stay closed-lipped about such topics as key people leaving or dissatisfied customers, just listen. You can also check LinkedIn profiles of key people in your competitor’s company. A portion of their customer base will also be there.
Spend some money
Many firms are willing to pay early termination fees for new customers, because they know it accelerates the decision to leave the competitor. As long as they become your new customer, the money is worth it.
Treat them like royalty
You also need to keep both regular and recently acquired customers happy. Treat them like royalty and offer a free service, take them to lunch and build a relationship.
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