THE SMART SPY How spying on your competition… Makes You Smarter Than They Are.
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THE SMART SPYHow spying on your competition…
Makes You Smarter Than They Are.
Your Mission: Find out what your competition is doing so you can do it better.
It’s simple: You cannot out-position the enemy in the minds of your target audience if you don’t know what your competition is doing.Find out: What’s their unique selling proposition that gets them customers? How are they engaging (and stealing) your audience? What ideas can you “steal and develop”?
#1. Search for the Unique Selling Proposition (USP) of Several Competitors.
The USP is what sets them apart. It answers the question: “Why should I do business with you over anyone else?”
It should go way beyond statements like, “big…experience…best”. Everyone can say that, whether it is true or not.
Look for a statement that no one else can claim. It may be a proprietary process, a benefit no one else is offering or price.
It should jump out at you. If you can’t find one, they don’t have one.
FIND THEIRS; MAKE YOUR OWN USP BETTER.
The Point? If You Can’t Present A Distinguishable Difference, How Do You Expect Your Potential Customers To Choose You Over the Competition?
CAUTION! DON’T GET CAUGHT…• Don‘t Take This Lightly. Your Customers Don’t.
• Make Your USP So Simple and Immediately Identifiable an Eighth Grader Could Understand It.
• Forget Industry Jargon…Your USP Is About “WHY YOU”.
YOUR MISSION IS SUCCESSFUL IF:
Someone not connected with your business can pick your USP out of an anonymous line-up with others. They should be able to tell what you do and why you do it better without knowing it’s you.
#2. Find Out How They Are Engaging (And Stealing) Your Audience.
What Keywords Are They Using That Attract Online Searchers for YOUR Services?
What Marketing Methods Are They Using?
Find Out What Works and What Doesn’t.
Look for a Multi-Channel Strategy You Can Copy.
GET HARD NUMBERS!What traffic generation tactics are pulling large numbers of customers? Are you as dedicated toward this effort as they are?
CAUTION! DON’T GET CAUGHT…• Don‘t Copy Their Tactics Without Knowing They Work. Just
because they can doesn’t mean you should.
• Don’t rely on your website to do the heavy lifting. It won’t…it’s not where your audience begins their search for your solutions.
• Don’t become discouraged by large traffic numbers from competitors. No company has a monopoly on traffic; no company needs all the traffic. It just needs the RIGHT traffic.
YOUR MISSION IS SUCCESSFUL IF:You can walk away from this mission with a strategy you know will attract attention.
#3. What Ideas Can You “Steal and Develop?” No One Has A Monopoly On Ideas. Look for Sales
Collateral That Catches Your Eye: Case Studies Video Online Brochures, Etc.
Look for Things That Quickly and Succinctly Make a Point That Can Tip the Sales Scales in Your Favor.
Ask, “Why is this (case study, etc.) eye-catching?”
VIEW THINGS THE WAY A CUSTOMER WOULD.If something catches your eye it probably catches the eye of your customers. Re-make it uniquely your own. Mix it up. Make it better. Use Your USP.
CAUTION! DON’T GET CAUGHT…• Beware of Copyright Laws.
• Don’t steal ideas and then simply paste your name and logo on them. Use the idea…see what’s out there…but make sure the result is all about you.
• Always ask yourself, “SO WHAT?” If the final sales collateral or method doesn’t answer that simple question, if it doesn’t enlighten and excite, go back to the drawing board.
YOUR MISSION IS SUCCESSFUL IF:
You didn’t do this in a vacuum. Get honest input from others in and outside of your industry. See if outsiders “get it”.
So What Do You Do With The Information You Just Discovered? Use It To Your Advantage.
1. Take the time to develop a good unique selling proposition. 97 - 99% of your competitors won’t do this…and it makes a difference in the minds of your potential customers.
2. Knowing how your competition is attracting customers lets you build a strategy to move into their territory. Use their successes; avoid their mistakes. Your marketing will give you a better ROI.
3. It pays to get out of your own world and see what others are doing. Coupled with your own USP and your new marketing strategy you’ll uncover hidden gems of collateral and tactics.
THE SMART SPYKnowing what to look for, how to do things better than the competition, what works and what doesn’t…
Makes You Smarter Than They Are.It gives you a competitive advantage.
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