Competition is good for consumers because it drives down prices and creates great deals for bargain shoppers, but it can severely hurt small business owners that may not have the capital that larger corporations have amassed. However, no matter how you try to spin it, you can't avoid it. One of the worst things you can do is ignore what your competitors are doing.
When you started your business, you surveyed the landscape to see if there was a market for what you had to offer. You had a plan. You knew who your target demographic was going to be and why they needed your business...but when was the last time you did that? Are you regularly sizing up your competition?
Have you checked lately to see what they are doing? What are they doing to market themselves? Are they still doing newspaper ads, inserts, direct mail, or other outdated marketing methods like they did when you started? Probably not.
Have you checked lately to see if there are new businesses offering the same thing you do? What are they doing to market themselves? Are they tweeting to their followers? Are they interacting with their customers through their regularly updated facebook page? How many connections do they have on LinkedIn? What are consumers saying about their business (and yours) on sites like Yelp?
If you don't know the answers to these questions...you should. If you aren't paying attention, you could fall behind.
Finding the time to keep up can be overwhelming. We can help. At Allure Network Marketing we help small businesses stay ahead of their competition with customized marketing strategies that go well beyond traditional methods and social media.
Let us help you keep you on that path of continued success in your market place. Contact us today for a free consultation.
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