One Powerful Marketing Move That Will Send Your Competitors Packing

competitionOne of the most important strategies that has to deal with wartime is to know your enemy.  Even though you may not be enemies with the competitors in your area, they still can be a drain on your business if their marketing efforts are more effective than yours.  If you want to keep ahead of the curve as well as staying one step ahead of the competition, you need an effective way of being able to track and out do any of the marketing programs that they are concentrating on.

There are several ways in which you can do this but one of the most effective is through the use of a good CRM software program.  CRM has to do with customer relation management, something that your business should be focusing on anyway.  It not only has to do with pulling new customers into your business, it also involves processes that take care of your existing customers and keep them coming back for more.  There are several very good CRM software packages out there, many of which are industry specific.

One thing that these programs do that is often undervalued is keeping track of your competitor’s marketing tactics.  Even if this process is widely unknown, it can, in fact,  not only save you a lot of time and testing, it can make your own marketing a lot more effective.  One of the ways it does this is by creating a win and loss report that you can study and see, at a glance, what the competition is doing and how it is going for them.  It is also the perfect piece of software to be able to keep track of your competitors catalogue of existing items.  This is an easy way to be able to spot holes in your own inventory that could be filled with a profitable item.

The best part about this marketing tactic is that it can work for any business.  Large businesses can benefit, especially if they have strong local or even international competition that is working in their exact field.  It may also help you if you are a small Internet business, trying to carve out your niche in among a lot of other websites that are creating background noise.  If you learn to use this tactic successfully, not only will your business grow but you will be out doing the competition and sending them packing.

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