Five Ways to Learn More about Your Competition

No business exists in a vacuum. If you aren’t aware of what your competition is doing at any given time it could spell big trouble for your bottom line.

While this is probably not the first time you’ve heard this advice, it can be difficult to follow. After all, running a business takes a lot of time and energy. Further, even if you really want to keep tabs on the competition, it can be difficult to know exactly how to do that.

If you are wondering how exactly to track what your competition is doing so that you can stay one step ahead of them, we have some simple tips to help you out.

    1. Jump on their website. What are your competitors selling, how much are they selling it for and is it something that you should sell but don’t? Are your competitors offering discounts and promotions that seem to be working especially well? How does their landing page look? Is it easy to navigate? A competitor’s website is a treasure trove of information.
    1. Do a keyword search. Who is coming up when you perform a search with words your customers and prospects are likely to use when looking for you. If your competitors show up on the first page of search results but you don’t then it’s time to up your SEO game.
    1. Follow them on social media. If your competition has a large following you can better understand why that it is when you peruse their social media sites. It also will help you to get a glimpse of how they interact with customers and prospects.
    1. Make a purchase. Wonder what the customer experience is like for a customer of another brand? Become a customer and you’ll get the answer. Along those same lines, give their customer service line a call. Find out how they handle questions or complaints to discover if you could be doing things better.
  1. Attend tradeshows. Visit competitors’ booths and see what they have to say and how they are presenting that information to prospects. Tradeshows also are often the place where new initiatives are launched so you can get those details first hand.

Keeping a close eye on the competition will help you understand how your competitors are able to succeed. It also will give you some ideas on how you can better promote your products and services and interact with customers and prospects.

Selling vs. Marketing: Is There Really a Difference?

Selling vs. Marketing: Is There Really a Difference? Are you selling a product or marketing your business? Did you know there is a difference? If you aren’t sure what you are-or should be-doing, you aren’t alone. Running a business take a lot of time and energy. Getting the name out about your product or services […]

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Nine Ways to Identify a Dead-End Lead

Much is made about the importance of identifying a qualified lead. Equally important, however, is deciding whether a lead is a dead-end.
If you want to meet your sales quota, it is important that you spend time on leads that are likely to make a purchase. Unfortunately, many leads that have no intention of buying can suck up a lot of your time. That’s because these leads talk a lot about buying without having any intention of doing so.

In order to identify leads that are all talk but no action, we’ve come up with nine surefire ways to pinpoint leads that are likely nothing but time-wasters. And once you identify them, you will be free to concentrate on leads with real potential.

  1. Conduct background checks. Find out exactly who the lead is and if they fit into your target audience. If they don’t fit your criteria, go no further.
  2. Find out what their problem is. Ask the lead what problem your company can solve. If there isn’t one, you can bet there won’t be a sale, either.
  3. Ask about their budget. If your product or service costs more than their budget allows, it’s time to move along.
  4. Discover what they think your company can do for them. If a lead has an unrealistic view of what you can do for them, things aren’t going to work out.
  5. Ask about the competition. Serious leads are likely getting a variety of bids or checking out different companies. If you are the only one they have approached this is a red flag.
  6. Identify the decision maker. If you are not talking to a decision maker ask if you can, if the answer is no, there’s no point in pursing this lead.
  7. Get an address. If a lead is located outside your service area it’s time to move along.
  8. Check their level of engagement. If a lead is really interested in your company or service, they likely would have visited your website or connected with you on social media. If they haven’t, you can bet that they aren’t that into you.
  9. Consider how easy they are to follow up with. If you can’t get in touch with a lead after the initial contact (despite a few good attempts), it is probably best to move on. If they were really interested, they wouldn’t be avoiding you.

While you don’t want to discount a lead that may convert into a sale, neither do you want to waste your time on a dead-end lead. While being too picky may seem like a bad thing, being specific about what types of leads to pursue will pay off in the long run.