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Welcome
Welcome
Improving YourCompetitive Strategy
by Maggie BarrMaggie Barr & Associates
www.targetedSMBmarketing.com
What’s the buying process like for customers?
Agenda
What’s different about a “competitive” strategy?
Why do I need to be competitive?
How can I make it more compelling?
THREE WORKSHEETS– Example: Mexican restaurant - Example: real estate agent- Your business
ON
TARGET
What’s different about a competitive strategy?
Define a Target audience• what group has common needs?
Target a specific need• what needs will you be fulfilling?
Design a specific offer• what will you be fulfilling the need with?
What’s different about a “competitive” marketing strategy?
Define a Target audience• what group has common needs?
Target a specific need• what needs will you be fulfilling?
Design a specific offer• what will you be fulfilling the need with?
What’s different about a “competitive” strategy?
Design a specific offer• 4 areas where you can be Better :
What’s different about a “competitive” strategy? (cont.)
ON
TARGET
Why do I need to be competitive?
Why do I need to be competitive?
You’re competing for fewer dollars• A recession reduces spending in most all categories
Competitors are always adding new offers• Is your offer still competitive?
They are observing what YOU are doing!• Do you want them one step ahead of you?
Why do I need to be competitive? (cont.)
Exactly how do you compare?
Why do I need to be competitive? (cont.)
Example: Taqueria Los Amigos
Boulder Creek, CA
Why do I need to be competitive? (cont.)
Exactly how do you compare?
Why do I need to be competitive? (cont.)
Exactly how do you compare?
Why do I need to be competitive? (cont.)
Exactly how do you compare?
Why do I need to be competitive? (cont.)
Exactly how do you compare?
Why do I need to be competitive? (cont.)
Exactly how do you compare?
Why do I need to be competitive? (cont.)
Exactly how do you compare?
Why do I need to be competitive? (cont.)
Exactly how do you compare?
Why do I need to be competitive? (cont.)
Exactly how do you compare?
Why do I need to be competitive? (cont.)
Exactly how do you compare?
Why do I need to be competitive? (cont.)
Exactly how do you compare?
Why do I need to be competitive? (cont.)
Exactly how do you compare?
Why do I need to be competitive? (cont.)
Exactly how do you compare?
Why do I need to be competitive? (cont.)
Exactly how do you compare?
Why do I need to be competitive? (cont.)
Exactly how do you compare?
ON
TARGET
What’s the buying process like for my customers?
What’s the buying process like formy customers?
There’re 6 steps in the “should I buy” decision process
All buyers travel through all phases
Depending on purchased item or service, time at each phase will vary
Know how you communicate, and what you communicate, at each phase
Know how you compare to your compet-itors at each phase
Awareness
Interest
Acquaintance
Consideration
Comparison
Vendor Selection
Sale
New Customer Acquisition6 Phase Decision Process
Awareness
Interest
Acquaintance
Consideration
Comparison
Vendor Selection
Sale
New Customer Acquisition6 Phase Decision Process
Print ads, online ads, events, word-of-mouth
Asking peers, searching for website, driving by
Visiting website, visiting location
Browsing site or store
Who else has offer?
Who hasbest offer?
Awareness
Interest
Acquaintance
Consideration
Comparison
Vendor Selection
Sale
New Customer Acquisition6 Phase Decision Process
Print ads, online ads, events, word-of-mouth
Asking peers, searching for website, driving by
Visiting website, visiting location
Browsing site or store
Who else has offer?
Who hasbest offer?
ON
TARGET
How can I make their buying process more compelling?
How can I make their experience more compelling?
Awareness: unique ways to advertise
Interest: unique ways to get their attention
Acquaintance: unique ways to greet them
Consideration: unique ways to differentiate
Comparison: unique ways to advertise
Vendor Selection: unique ways to close the sale
ON
TARGET
Three Exercises
Three Exercises:
Taqueria Los Amigos Boulder Creek
Moebest-Henderson PropertiesSanta Cruz
Your business, your offer!
Taqueria Los Amigos
Mobest-Henderson Properties
Your Business, Your Offer
ON
TARGET
Summary
Competitive strategies take into consideration how your customers –compare- you to others
Your competitors are likely watching YOU … shouldn’t you be watching them?
Summary
They buying process has 6 phases
Find a way to stand out in all phases
Got Questions?
Maggie Barr & Associateswww.targetedSMBmarketing.commaggie.anne.barr@gmail.com408-454-6488
