Tweet

U is for Understanding

Guest post by: Helen Dowling

Article Overview: I try not to write too much on market research and understanding your customers and your competitors – while it’s important, it’s not what most of you want to hear. Most small business owners simply want to know how to get more customers and don’t necessarily care how this comes about.

U is for Understanding

I try not to write too much on market research and understanding your customers and your competitors - while it's important, it's not what most of you want to hear. Most small business owners simply want to know how to get more customers and don't necessarily care how this comes about.

But what if I told you that having an understanding of what goes on around you can literally double or triple how many customers you actually get?

Understanding your customers and competitors isn't just important for your own knowledge, but it can really shape how you communicate with people. And if people feel you're speaking their language, they'll be much more likely to come and do business with you.

So when was the last time you actually sat down and thought about who your customers are? If you haven't done this for a while, just take five minutes out and check that you know the answer to this question.

I must admit that a couple of months ago I did this exercise for my own business. I felt things were generally ok but that we were a little bit off track in how we communicated with our customers. Just taking five minutes out to reconfirm who our customers were made me refocus. It also served as some reassurance that we were doing the right things, but refocusing would make that communication even stronger.

Once you've done this for your customers, take another five minutes and refocus on what you know about your competitors. Which competitor leads the market? Who do you admire and want to be like? Is this still the same as it was, say a year ago?

Again, five minutes after doing this for my business I realised that one of our competitors that I really admired and strived to be like them had completely changed - I now admired different companies which is going to make us even better in the long run.

So, that all it takes - 10 minutes out of your life. I think that you'll be pleasantly surprised by what you find and it will help you to refocus and take you back to basics.

One of the ways I use this information in my business is (as I've implied earlier) communication with my target customers. I literally imagine that person I want to talk to is sat by me and then I write down what I would say to them. If I'm writing a sales letter, I imagine what sort of questions I might want to ask them and how they would answer and then I would write these down exactly how I would say them.

This means, or at least I hope it does, that small businesses feel I'm really communicating with them when I write. One lady who met me recently for the first time at a networking event said she felt as though she knew me already because of the information that she's received over the years.

I really do urge you to take 10 minutes out and refocus on who your customers and your competitors are and then ask yourself whether you're doing the right thing to reach them. The answer may be yes, in which case you've only lost 10 minutes. But the answer might also be no, in which case this exercise will be invaluable for you. And if nothing else, it provides reassurance that you're on the right lines.

Related Articles
  Blind Faith
  What's high school for?
  Being clear on what you do
  Internet Marketing Strategy - I have a website, what else do I need?
  What are the 3 biggest challenges faced by supply chain/purchasing professionals today? (Survey Result 4)
  Meaning of Wisdom – It’s a 3-step process
  What is the Key to Prosperous Marketing?
  Market Research – What’s That Then?
  Best of the Janes: Gaining a Deeper Understanding of Your Ideal Customer
  The Power of Listening
  Realizing the Impact of Your Behavior on Others
  Driving Direct Marketing Excellence: Customer Profile Studies
  Selling B2B Services - Converting Warm leads Into Eager Clients - Part One
  Q&A: What does excellent trade show signage look like?
  Creating Successful Results with High Self-esteem
  Basic Understanding of HTMLs
  Dealing with Difficult Customers #3
  7 + 1 Criteria, business owners should use, when selecting Sales & Marketing Consultant
  What makes a good copywriter…
  Media Matters: Why talking to reporters makes good business sense

Article Tags: competitors, customers, market research, research



Related Forum Posts
Re: Newbi here - Thanks for your responses guys and warmth welcome. I am quite interested on home based business.Your responses are highly appreciated. Women working from home are constantly searching for ways on how to make money online at home, to help produce additional income to support their family As an answer for these women, there are many online companies seeking educated professionals capable of producing high quality work, and skilled women eager to perform sometimes tedious work, over the Internet. Because of the reduced overhead cost, these companies can pay a higher than expected pay rate, and offer the freedom that can only come from working out of the house such as: Do you have any ideas and enriching experiences to share about the following ways on how to make money through the internet? 1. Become a Freelance Provider 2. Become a Global Telecommuter 3. Become an Online Entrepreneur In this global market, it is easy for women working from home to find online opportunities for generating extra income from the luxury of their home computer. Understanding how to make money online at home requires a simple understanding of all the prospects available for you. Have a wonderful day to all of you here.
Global Ad Agency Seeks Senior Sales Account Executive - Global Ad Agency -- We are seeking experienced advertising Senior Sales Account Executives to join our growing sales force in New York office. ICMediaDirect.com, Inc is a Full Service Online Advertising Agency driven by a united goal to provide both online as well as offline advertisers with easy and affordable ways to plan and buy media online. We are proud to present an impressive roster of over 300 satisfied clients and a wide reach of billions of visitors each month. With two great locations - N.Y. and D.C. - we know how to PLAN your media, how to BUY your media, how to TRACK your media and how to CAPITALIZE your media. Qualifications • Minimum 2 years of active ONLINE advertising sales experience • Responsible and aggressive attitude • Successful track record with ONLINE sales • Understanding Internet advertising vehicles such as pops, banners, search and lead generation is required • Excellent communication and presentation skills • Strong computer skills are required • Detail oriented and well-organized • Ability to work independently • Enthusiastic team player The Best office location in the city! Competitive salary (plus commission), bonuses and benefits. Please send your resume with salary expectations today at jobs@icmediadirect.com!
Re: Global Ad Agency Seeks Senior Sales Account Executive - [quote="RobertGresch":1lt645d1]Global Ad Agency -- We are seeking experienced advertising Senior Sales Account Executives to join our growing sales force in New York office. ICMediaDirect.com, Inc is a Full Service Online Advertising Agency driven by a united goal to provide both online as well as offline advertisers with easy and affordable ways to plan and buy media online. We are proud to present an impressive roster of over 300 satisfied clients and a wide reach of billions of visitors each month. With two great locations - N.Y. and D.C. - we know how to PLAN your media, how to BUY your media, how to TRACK your media and how to CAPITALIZE your media. Qualifications • Minimum 2 years of active ONLINE advertising sales experience • Responsible and aggressive attitude • Successful track record with ONLINE sales • Understanding Internet advertising vehicles such as pops, banners, search and lead generation is required • Excellent communication and presentation skills • Strong computer skills are required • Detail oriented and well-organized • Ability to work independently • Enthusiastic team player The Best office location in the city! Competitive salary (plus commission), bonuses and benefits. Please send your resume with salary expectations today at jobs@icmediadirect.com![/quote:1lt645d1] Hi Robert, Welcome to our forums! Have you had any luck in your search for this job candidate and can I ask what other sites you've used to advertise this position?


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Avoid Burnout: Do the Limbo Regularly

3 Pointers to Recruiting and Retaining Good Staff

Steps For Starting A Small Business

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.