There’s a lot of competition out there! But do you know who it is? Can you name your top two competitors? What are the other choices in your market for your clients? What are your strengths and superpowers? How are you unique in the presentation of your product and services? HOW are you presenting those? How is that helping you stand out against your competitors? How is your product better suited for your ideal client and their needs? If you’re not sure of the answers to these questions, then listen to this episode to learn exactly what makes you different from your competition and position yourself as the best option when your clients look for your services.
What You’ll Learn from this Episode:
- How often you should look at your competition
- How to get clear on what it is that you’re offering to your clients
- How to define your differentiators from your competition
Here’s the Complete List of Tips:
(7:00) Some thoughts on developing your team and providing continuing education
Billy does everything he can do to inspire in-house education. He wants them to feel fulfilled working there. They receive continuing education “dollars” Every year they spend with the company.
They also require CEU’s for their staff and as they grow, they expect more of them. They also require a baseline level of experience to work there. This model also allows everyone to learn from everyone else form the knowledge they bring back to the studio.
Education is #1 when it comes to setting yourself apart from the competition.
(13:40) Separating yourself from the competition also requires an incredible customer experience.
Clients need to feel the warmth and the glow of the excitement of everyone being there. As a business owner, you must continually come back to look at your education model, and your customer experience. Don’t let your business be a stagnant place that never changes.
It doesn’t need to be a new piece of equipment. It can be a new anniversary policy.
(17:00) Elements that contribute to a VIP customer experience.
DIAKADI’s goal from Day 1 was to know the name of everyone that came in. They’ve implemented systems to help the front desk staff be reminded of their name if they don’t know or remember.
They also work to create an environment that feels comfortable and empowering for their clients, who they know may be coming into an environment that they’re not familiar or comfortable in.
It’s not about the marketing or how to make things look fancier. How can you make the experience better for the client?
(21:40) How often should you look at the competition?
A lot of people will say look at your competition, and others will say to not look at your competition. Billy has built out some steps in what he teaches:
- As a fitness professional and entrepreneur, you have to be very clear on what it is that you’re offering to your clients. What are the products and services you offer, and what is the unique way in which you offer them? Be very clear on what your client’s pain points are. What are their needs, what are their goals? What are the deeper levels of what the need?
- Research! 95% of Billy’s clients can’t name their competitors, much less know what they are doing. Do you know what your top two competitors are? What are the other choices in your market for your clients? A good question to ask your clients is, if I were to move away tomorrow, how would you go about searching for my replacement? THAT is where you want to be seen. This should guide every marketing decision that you make. Do you really need to have more followers on Instagram? Is that where your clients are?
- With all this data, you have to define your differentiators. What are your strengths and superpowers? How are you unique in the presentation of your product and services? HOW are you presenting those? How is that helping you stand out against your competitors? How is your product better suited for your ideal client and their needs?
- Calibrate all of your marketing according to the above.
(35:00) Be sure to set aside some business development time for yourself!
It can be daunting, so just set aside one hour a week to work on your business. Put it on your calendar when you are at your freshest!
(39:00) Continue to monitor the competition to redetermine your differentiators
Are your differentiators still standing strong against your competition?
References in the Episode & Additional Resources:
Building A Story Brand by Donald Miller