5 ways your competitors are stealing your customers

5 Ways Your Competitors are Stealing your Customers

by: admin   /   24 Apr, 2018
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If an individual’s competitor is trying to grow his new business then there are chances that they might adopt those techniques by which your customers might leave you. One should follow a number of precautionary competitor’s monitoring steps so he might not lose his customers. A few ways by which this can be stopped have been discussed below:

Staying in Touch

stay in touch

How many times does an individual calls or receives a call from an existing customer for sales? This thing might not happen at regular intervals. A person may be busy with a number of other activities related to sales of a product. But talking to a customer for a very short period of time like asking him about a specific product could help a company to grow and in this way, they might not even lose their customers. A customer should not be neglected at any cost.

Adding value

Intelligence

When calling a customer one should not start directly and finish just by telling about the product. What one should do is that he should offer that thing which has some value for that specific customer. It can be any sort of fact about his business that a customer might not know but you have found it and it might be quiet helpful for that customer. It can also be some sort of news article that may be useful for a customer. Like this, a customer might think many times before he plans to leave you or gets attracted to a number of other options that are being given by your competitors.

Intelligence

 

If one has an old customer and he has a good relationship with you then one can ask him for favor like he can let you know when he is being approached by your competitors. A person can also offer a variety of bonuses for new or existing customers so they don’t leave you or they don’t get attracted by a number of offers being offered your competitors. Once a person has good relationships with a variety of customers then there are very fewer chances that his customers might be stolen by his competitors. Another benefit will be that one may be able to know what strategies are being adopted by his competitor. Like this one may be ahead of his competitor too.

Source of Information

source of information

The greater the knowledge an individual has about a specific product or the industries to which a specific product is linked to the greater there are chances that a person is valuable to his customers. One should encourage his customer to ask him a variety of questions and if one is unable to answer their questions then an individual can find out their answers. Like this one can build a good relationship with his customer. Even if a customer is not going to buy a specific product he might stick around you as an important source of information. One can increase his knowledge by reading a variety of books related to industries or a number of magazines can also help you out.

Price Wars

price war

One should always be prepared for a number of price wars. When a certain competitor wants his business to flourish then he might put a very low price on a specific product in order to gain a large number of customers. One should respond to all these tricks very quickly without having second thoughts. This should be done because if a customer calls you and tells that a specific product is being sold at a lower price by the competitors then you must be ready to tell him that why a specific product is being sold at a higher price by you. What is the difference in its quality and why is it better than your competitor.

By following these ways one can stop his competitors from stealing his customers.


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