Turn You Competitors' Customers into YOUR Customers

Here are a few creative ways to help turn your competitors' customers into your own:

• Offer a comparison chart that focuses on reasons why customers should choose your product over the competition. For example, you may offer a standard five-year warranty, while your competitors may only offer a three-year warranty. Or perhaps they offer an extended five-year warranty option, but at an additional price.


• Stay informed of what your competitors are doing, but avoid copying their ideas. Instead, add value and make their ideas even better. For example, if a competitor offers free shipping on purchases of $100+, you could provide free shipping on all purchases and possibly even returns.


• Create a unique tagline or slogan that focuses on your key selling points, such as: "Hassle-Free Returns" or "Receive your lunch order within 30 minutes or it's free."


• Add value to a comparable product through added services, such as longer support hours, free training, and live phone operators (no automated phone service).


• Create a customer survey. Ask your audience how you can improve, what new offerings they wish you provided, what they like best about your company, and what areas they may find lacking. Their answers could easily point to ideas that will help you gain a competitive advantage.


• Provide a risk-free trial to test your products or services before committing to a change.


• Compare your guarantee to your competition. If your competitors don't offer a guarantee, this is an extra reason to promote your guarantee heavily.


• Compete with low-price competitors in creative ways. Offer exclusive discounts when items are purchased together as a package, or offer free or discounted add-on bonuses.


• Romance your competitors' customers. Show them the affection they may be missing from their current vendor, and let them know you're willing to go the extra mile to win their business.


• Even if prospects are happy with their current provider, be sure to continue your marketing efforts. Create front-of-mind awareness so you're at the top of their list if they ever change their mind.

Improve the Effectiveness of your Newsletter

Newsletters have a proven track record for creating front-of-mind awareness, establishing and maintaining credibility, and publicizing an organization to the community. Here are a few tips to improve the effectiveness of your newsletter:

• Become a resource by including how-to articles, helpful industry tips and tricks, and links to other articles and podcasts that may be of interest to your audience.


• Feature a special offer or promotion in each issue to track your newsletter results.


• Include a customer testimonial section to highlight customers who are finding success using your products or services. This will not only boost your credibility, but also increase customer visibility.


• Offer subscribers a "sneak peak" at new products. This will make them feel special and encourage them to spread the word about their insider knowledge.


• Create an "Ask the Expert" section, featuring industry experts to answer customer questions. Include the name and business of the customer who asks the featured question.


• Keep track of customer/recipient birthdays and send them a free birthday giveaway or discount.


• Provide highlights from an online customer portal or discussion board where customers can chat about industry trends, new products, and other relevant issues. Include a web link, and encourage newsletter readers to join in the discussions.


• Commit to a regular schedule. Readers will look forward to and expect your newsletter, so inform them if you take a hiatus from the regular routine.


• Post current and archived issues on your website with a link to subscribe.

Give us a call today if you'd like to see examples or need more ideas for creating a newsletter that your audience will look forward to receiving. Our creative experts would love to help.

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Employee Recognition on a Budget: 5 Ways to Motivate on the Cheap

The first Friday in March is Employee Recognition Day, but you don't have to wait until then to show your employees how much you appreciate them. Though the economy is on the upswing -- finally -- many employers are still feeling pinched, especially when it comes to budgeting for pay increases and other employee-motivating benefits. But even if you can't afford a grand gesture, showing your employees how much you value their contributions is still a must.

Why is Employee Recognition So Important?

It may help to think of employee recognition efforts as an investment in your company's success. While it's true that motivated employees work harder and take more pride in their work, empirical evidence also supports the benefits of recognition.

A study of more than 4 million employees found that regular praise and recognition has a positive impact on employee performance, specifically resulting in:

• An increase in individual productivity


• More engagement between colleagues


• Increased employee retention


• A decreased number of on-the-job accidents


• A better safety record


• A greater number of positive comments and loyalty scores from customers

Now that you know how important recognition is, here are a few budget-friendly ways to honor your hard-working employees.

1. Just Say Thanks

A survey by Dr. Bob Nelson, noted author and motivational guru, asked employees to rate their most-desired and least-desired forms of recognition. Guess where "cash or cash substitutes" finished? Near the bottom. You heard that right. Only 42 percent of those surveyed deemed monetary reward as very or extremely important.

So what grabbed the top spot? Ninety-two percent of those surveyed rated "support and involvement" from their supervisor as the most desired motivator. Similarly, "personal praise" took second place with 79 percent describing it as very or extremely important. These statistics underscore the impact an employer can have, even without the backing of a huge budget.

Sometimes, it's enough just to express your gratitude. Make it public by posting a handwritten note on their office door or wall, sending out a company-wide email, mentioning them in a newsletter, or praising your employee at the beginning of a meeting.


2. Break Time

Maybe you can't afford to give them a raise, but can you spare an hour here or there? Instituting a recognition program based on off-time shows you care without cutting into payroll too sharply. Consider offering an extra hour at lunch, providing an early dismissal on a day of their choosing, or adding a few extra minutes to breaks every day for a week. If you can afford it, comp time is always appreciated and gives employees the break they need to recharge and come back re-motivated and ready to work.

3. Take 'em to Lunch

Recognize hard work by treating that special honoree to lunch. Find out their favorite eatery and order take-out, or go all out and have a sit-down nosh together.

4. Added Perks

Some incentives come at absolutely no cost to your bottom line, but can make a big difference to an employee. Reserve that prime parking space for them for a week -- or a month, if you're feeling generous. Ask one of the top managers or execs to stop by the employee's desk and offer a personal "thank you." Post a congrats message to Facebook or tweet it out -- with your employee's permission, of course.

5. Gifting

If you have a small slush fund available, purchase some small gifts from nearby businesses. What employee wouldn't love being surprised with a free car wash, movie passes, or a gift card to Starbucks?

Whichever low-budget option you choose, be sure to tailor it to each individual employee. After all, thanking your workers in cookie-cutter style doesn't exactly scream, "You're special! I value you as an individual!" With a bit of forethought and planning, you can give morale -- and productivity -- a boost.

Making Business Sweet: The Benefits of Delayed Gratification

Imagine taking several children, one at a time, into a room, where you've placed a tantalizing marshmallow on a table. You tell the children that if they can resist eating the delicious sweet sitting in front of them while you step out of the room for a few minutes, they can have two when you return. If the child can't wait, they can eat the first marshmallow whenever they want, but they won't get the second marshmallow when you return.

That's exactly the experiment researchers at Stanford performed in the late 1960s. The footage they obtained of the children was quite fascinating. Some children looked away from the treat in front of them, while others tried to distract themselves by kicking the table or fiddling with their hair. Some of the children poked or stroked the marshmallow.

Years later, the researchers were able to make the connection that the children most capable of delaying gratification were the ones who were also more likely to succeed in school, resist other temptations in life (such as drugs or excessive alcohol), and avoid having behavioral problems. Clearly, the ability to delay gratification is significantly linked to personal success.

Adults and delayed gratification

Hopefully, most adults can be left alone with a marshmallow and avoid eating it when the situation calls for it, but that doesn't mean most adults have mastered self control and delayed gratification. It's always tempting to accept immediate pleasure or reward rather than wait for something more important down the line. We all have different areas where we know we would struggle to resist temptation. Just like the children in this experiment, however, we need to keep in mind the larger picture and see the good that can come from waiting.

What marshmallows have to do with business success

Business is all about being able to see the big picture. For companies to be successful, they have to be able to look beyond the current options and see where they want to go in the future. Sometimes, achieving these long-term goals means being able to pass over smaller rewards and delay gratification for the greater good.

For example, some companies may find themselves tempted to maintain their traditional marketing techniques rather than branching out into social media and inbound marketing. Sure, the company may continue to find occasional new customers, but that's the small reward. The fact is the Internet is now critical for reaching an ever-growing portion of the consumer base. While entering the world of Internet marketing may require patience and extra work upfront, the reward companies receive from reaching their customers online can be enormous.

Children are not known for their patience, and an experiment first done in the 1960s has shown that many struggle with delayed gratification, even when the promised reward is sweet. While adults may have more self control than a child, we can still struggle sometimes to wait for potential opportunities to come to fruition.

When making business decisions, it's always important to determine goals and then keep your eyes on the prize. Opportunities abound for companies that exercise patience and work toward a larger reward. Don't settle for mediocrity. Instead, challenge yourself to think big and build the business of your dreams.

Blaze Your Own Trail to Business Success

Something interesting happens between childhood and adulthood. As children, people tend to not want others to copy them. As adults, however, we spend a considerable amount of time trying to copy those around us. We see someone with a new idea, and all we want to do is imitate their accomplishments. Someone successfully develops a new app, and 50 similar ones seem to spring up overnight.

While imitation may be the sincerest form of flattery, it's not always the key to success.

Consider this example: Two sisters, Anna and Mary, sit down together to draw pictures. As with many big sister/little sister pairs, Mary looks up to her big sister. She carefully watches as Anna sets about drawing a picture of their family house with everyone out in the yard. Mary picks up each crayon as Anna lays it down, then goes about copying her sister's artwork.

After a few minutes, Anna notices what Mary is doing. "Mary, don't just copy me!" she exclaims. "You have to make your own picture."

Anna recognizes what many adults fail to see. If Mary simply copies her picture, she won't be able to demonstrate her own strengths. If the sisters' drawings are exactly the same, neither will stand out as unique. When they both create their own pictures, however, then each picture stands on its own merits and creative vision.

How to apply this to business

Developing new ideas in business is difficult. It takes a uniquely creative mind to come up with a useful service or product that no one else has thought of before. It can certainly be tempting to just copy another company or business model and hitch a ride on their road to success.

Unfortunately, this strategy rarely works. If you're offering potential customers exactly the same product or service as an already established company, what reason would they possibly have to switch to you? Your business isn't unique or special. Instead, it's a copy of one they already know and trust.

Creating something unique

There's nothing wrong with using another person's success as a source of inspiration, but have confidence that you have something special to bring to the table, too. Find a way to work that into your business model.

For example, say you worked in retail for a considerable amount of time while putting yourself through school. You may decide to specialize in helping retail stores with their marketing plans. Or perhaps you've found new ways to cut administrative costs and are able to offer potential clients lower prices for the same high-quality service.

Whether you're a budding entrepreneur or an established business pro, keep looking for things you can bring to the table that your competitors can't.

Blaze your own trail. Find your own niche. And build your own success story other entrepreneurs will want to copy.