Sunday - October 6th, 2024
Apple News
×

What can we help you find?

Open Menu
October 6th, 2024

#1066 – Help Your Competitors to Help Yourself

  1. #1066 - Help Your Competitors to Help Yourself Lorraine Ball 3:05

I am sure you think this headline is a mistake, that I meant to say something else, but I really mean this. If you want to build a successful business in a vibrant marketplace, you will grow faster if you help your competitors. Before you decide I am completely crazy, consider the following:

  1. You don’t know everything. Hanging around with other business owners in the same industry gives you a chance to learn a few things in  exchange for sharing a few tips of your own.
  2. Improve the quality and perception of your industry. If a customer has a bad experience with a service provider in your industry, it’s easy for them to assume that all companies who do what you do are the same. Getting involved with trade associations which offer training, professional and business development will improve the overall industry in which you are a participant.
  3. Everyone is not your customer. Getting to know companies who provide similar services to yours in slightly different niches gives you an chance to set up a referral relationship where each company actually gets more of the kind of customers they want to work with.
  4. Customers need Education. This is particularly true when you are trying to build awareness and demand for a new or different product or service. Customers may be unwilling to try your product or service if you are the only company talking about this approach, but when multiple companies all tout the same benefits, all of you have an easier time making a sale.
  5. Everyone needs a little positive karma. Sometimes it’s just nice to pay it forward. When I started Roundpeg, I reached out to a few business owners who had been running marketing firms for awhile. They graciously gave me time, tips and tools to help me get started. Today I do the same. I like being able to look around the community and know that I played a role in helping other businesses get their start.

Discover other episodes and more:  https://morethanafewwords.com/avoid-fomo/

Connect with Lorraine on LinkedIn

 

 

LORRAINE Ball Marketing Strategist

After spending too many years in Corporate America, Lorraine said goodbye to the bureaucracy, glass ceilings and bad coffee to follow her passion to help small business owners succeed

Today, this successful entrepreneur, author, professional speaker, and host of a weekly marketing podcast, More than a Few Words, brings creative ideas, practical tips, and decades of real-world experience to every conversation.

As the founder of the Digital Toolbox Community, she helps business owners use internet marketing to grow. And in her spare time, she loves to travel, and take photos. You can see her photos at lorraineball.com

Contributors

Show More

Keep Up To Date With Our Latest Baby Boomer News & Offers!

Sign Up for Our FREE Newsletter

Name(Required)
This field is for validation purposes and should be left unchanged.

(( NEW ))