If You Are Focused On Your Competition…
Then you are not focusing on your Customers. Competition, in general, leads to improvement. If you are an athlete of any type or even a chess player, competition makes you up your game. It is a fact that the vast majority of people really do not like to lose. So when we face someone who is as good or better than we are, we try harder. We practice, we educate ourselves and we improve. It is just the nature of our society. Competition fosters improvement. Improvement, whether in sports or business is a good thing. No trophies for just trying. That’s why an award for Most Improved is given out at nearly every awards ceremony you have ever attended. Without a competitor to drive us, we are left to settle into a boring and uneventful life. Getting by but possibly never getting better.
Competition For Customers
We can put aside the sports and gaming metaphors for now. If you are in business you ARE competing with other entities for customers. Every decision you make should be focused on the wants and needs of your customers. Your competition (other businesses in your field) are likely looking on a daily basis for an edge over you. The question is are you returning the favor? Competition is actually good for everyone when it comes to the business world. Why would anyone invest in technology or training or upgrading a product if there wasn’t a benefit to someone? Humans generally don’t do things for no benefit, whether for themselves or someone else. It is normal.
The key issue is focusing too much on your competitors. Many firms try to match every sales discount or freebie giveaway like the business across town. Or perhaps you are simply looking for new customers in the same exact places your competition does. All the while never considering how your current customers feel about your level of service, quality, or commitment to them. Anyone that has been around for a while has heard the idea that it costs much more to gain new customers than to keep existing ones. Your existing customers are what your competition is aiming for. After all, they are already confirmed fans of whatever you are selling and they spend money to get it. Those customers are like money in the bank. Would you let anyone take money out of your bank?
The Customer Is King
Customers are also the only reason your business exists. Think about that carefully for a second. Without customers there is no revenue, without revenue there is no income or profit. The same facts apply to your competition. Only the Federal Reserve can print money out of thin air. If you care more about the new commercial your competition put out than you do about delivering today’s orders earlier than expected, you have already lost. Think about yourself as a customer for a moment.
When you buy something online, free shipping and discounts can lure you in. But, how do you feel when the 3 days to ship turns into 3 weeks? Free shipping loses some of its appeal, doesn’t it? A 10% discount on your next order is great until the item arrives and turns out to be a cheap imitation. Maybe that’s why they offered the discount, to begin with. Competition on the basis of quality was likely not in their game plan. The same principles apply whether you sell online, from a brick and mortar location, or simply provide a service to the public. If you don’t approach every decision with the question “How will this help my customer”, your focus is in the wrong place.
At The Beacon Center, The Customer Is The Center Of Our World
From its inception, The Beacon Center has been hyper-focused on our customers. We quite literally lose sleep over unhappy or dissatisfied customers. In fact, that focus has cost us revenue at times. We do not look at it as a loss, however. We view it as an investment IN our customers. If our forgoing a few dollars of profit ensures your experience with us is nothing short of 5 stars, then it is worth every penny. These aren’t just marketing words, they are our heart and soul. In fact, we are aware of our competition but we are never worried about them. We are instead concerned about YOU.
If you want to experience old fashioned customer care you should really give us a call or better yet visit our website. Take a look at our testimonials and reviews and judge for yourself. We welcome all businesses, all people, and all love. In short, if you need a meeting or party space, we are your home away from home or the office. We will treat you like family, and we have rarely met a renter who didn’t become a friend.