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Improving YourCompetitive Strategy<br /> by Maggie Barr<br />Maggie Barr & Associates<br />www.targetedSMBmarketing.com<br />

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Agenda<br />What’s different about a “competitive” strategy?<br />Why do I need to be competitive?<br />What’s the buying process like for customers?<br />How can I make it more compelling?<br />THREE WORKSHEETS<br />– Example: Mexican restaurant <br /> - Example: real estate agent<br /> - Your business<br />

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What’s different about a competitive strategy?<br />

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What’s different about a “competitive” marketing strategy?<br /> Define a Target audience<br /><ul><li>what group has common needs?</li></ul> Target a specific need<br /><ul><li>what needs will you be fulfilling?</li></ul> Design a specific offer<br /><ul><li>what will you be fulfilling the need with?</li></li></ul><li>What’s different about a “competitive” strategy?<br /> Define a Target audience<br /><ul><li>what group has common needs?</li></ul> Target a specific need<br /><ul><li>what needs will you be fulfilling?</li></ul> Design a specific offer<br /><ul><li>what will you be fulfilling the need with?</li></li></ul><li>What’s different about a “competitive” strategy? (cont.)<br /> Design a specific offer<br /><ul><li>4 areas where you can be Better :</li></li></ul><li>Why do I need to be competitive?<br />

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Why do I need to be competitive?<br /> You’re competing for fewer dollars<br /><ul><li>A recession reduces spending in most all categories</li></ul> Competitors are always adding new offers<br /><ul><li>Is your offer still competitive?</li></ul> They are observing what YOU are doing!<br /><ul><li> Do you want them one step ahead of you?</li></li></ul><li>Why do I need to be competitive? (cont.)<br /> Exactly how do you compare?<br />

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Why do I need to be competitive? (cont.)<br /> Example:<br />Taqueria Los Amigos<br />Boulder Creek, CA<br />

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Why do I need to be competitive? (cont.)<br /> Exactly how do you compare?<br />

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Why do I need to be competitive? (cont.)<br /> Exactly how do you compare?<br />

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Why do I need to be competitive? (cont.)<br /> Exactly how do you compare?<br />

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Why do I need to be competitive? (cont.)<br /> Exactly how do you compare?<br />

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What’s the buying process like for my customers?<br />

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What’s the buying process like formy customers?<br /> There’re 6 steps in the “should I buy” decision process<br /> All buyers travel through all phases<br /> Depending on purchased item or service, time at each phase will vary<br /> Know how you communicate, and what you communicate, at each phase<br /> Know how you compare to your compet-itors at each phase<br />

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New Customer Acquisition6 Phase Decision Process<br />Print ads, online ads, events, word-of-mouth<br />Asking peers, searching for website, driving by<br />Visiting website, visiting location<br />Browsing site or store<br />Who else has offer?<br />Who has<br />best offer?<br />

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How can I make their buying process more compelling?<br />

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How can I make their experience more compelling?<br />Awareness: unique ways to advertise<br />Interest: unique ways to get their attention<br />Acquaintance: unique ways to greet them<br />Consideration: unique ways to differentiate<br />Comparison: unique ways to advertise<br />Vendor Selection: unique ways to close <br /> the sale<br />

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Three Exercises<br />

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Three Exercises:<br />Taqueria Los Amigos‎<br />Boulder Creek<br />Moebest-Henderson Properties<br />Santa Cruz<br /> Your business, your offer!<br />

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Taqueria Los Amigos<br />

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Mobest-Henderson Properties<br />

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Your Business, Your Offer<br />

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Summary<br />

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Summary<br /> Competitive strategies take into consideration how your customers –compare- you to others<br /> Your competitors are likely watching YOU … shouldn’t you be watching them?<br /> They buying process has 6 phases<br /> Find a way to stand out in all phases<br />

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If you would like help building your marketing plan, or developing and imple-menting a marketing campaign, please contact us. We offer affordable rates and a fast turnaround.<br />MaggieBarr & Associates<br />www.targetedSMBmarketing.com<br />maggie.anne.barr@gmail.com<br />408-454-6488<br />