A wise man once said, “No brand or business will have the upper hand for more than a short time.” Whether or not you currently have competition for your product or service, you can be sure that this won’t be the case forever. Your present success will not stay a secret because there will always be someone who wants a piece of your action, and the time to start marketing your current business to increase brand loyalty is BEFORE the competition opens its doors.
I often receive frantic calls from new clients that begin with their concern, “a new competitor is moving in across the street from me. What do I do?” I always ask how long they’ve had this information and when the new business opens. Too often, the answer is “months,” and “tomorrow.” Too often, we look at new competition as a future problem and assume our current clientele is completely loyal to us.
Customer loyalty programs such as continuity programs, referral spiffs and rewards should be executed to keep customers loyal, regardless of new competition or not. Remodeling your own location, adding new services, and ramping up customer service should also be implemented – well in advance of new competition. It is never “too late,” but the sooner you implement brand loyalty marketing tactics, the less impact this new competition will have on your business; and there WILL be an impact. I always recommend that my clients NEVER give their customers a reason to go elsewhere, no matter the competitive situation. Your customers need to know who provides the best product and service at the best value – you – and have a loyalty to your business that the competition can’t compete with.
If your business is experiencing competitive pressure, or you just want to speak with an experienced marketing partner, give us a call. We’ll give your business the tools to maintain your company’s success, even when there is a new team in town.