In any business, competitors are often the ones who leave the worst taste in your mouth. However, you can never control this as we all revolve in a dog-eat-dog world.
Nonetheless, the goal still stands: to be the best among the rest.
Provided that there are tons of real estate agents or companies that offer the same services as you do, how will you ever get more clients? How can one stand out from the rest using the same sales pitch and marketing strategy as everyone else does?
Sometimes, outpacing your competitor is not always challenging but can be fun. Where to start off? Not many may realize this, but your competitor can be your greatest resource and your best friend. This is especially true with the real estate industry.
Making a competitive analysis with your closest rivals is an essential part of any marketing activity. While you are spying over the competition, you can immediately draft your very own qualitative strategic plans that will win you over more clients, probably more than what the competition can ever make.
We are not talking about stealing ideas from your competitors here. This is all about utilizing their strengths and weaknesses as a way to create your “brand.” Your brand should tell clients how different you are from your competitors or what you can offer that they cannot, which will all eventually bring you success and customer loyalty.
So, in what ways can you effectively know what the competition is doing?
Facebook, Twitter, Instagram, LinkedIn, and more will be your best friend. With its power, accessibility, and efficiency, social media has been utilized by most businesses, and, surely, this is where your competition will be spending most of their time. Spying on what they have been offering lately, or what areas they have been focusing on, can lead your business to a better direction.
Visiting your competitor’s actual website
Blogs, and email newsletters is also a great idea. Here, you can be a step further over their marketing strategy, the promotions and discounts they offer, their market, their campaigns, and so on and so forth.
If you are lucky, going over their feeds, you may see who their past clients were, their favorite personal hubs for fishing for clients, and their upcoming events. You can use all these information to vamp up your site, to reach out to their clients, to stay where they stay so you can also fish for clients, and to check what their market has yet to offer you.
Attending conferences, trade shows, and seminars that your competitors are holding can be an effective way to fish for information. You may also check how they interact with their clients, their strategies to get their clients attention, how their flyers are, how they present their products, etc. Pick up as much useful information as you can, and use it to your advantage.
Customers, suppliers, employees, and from the competitor themselves
Knowing what your competitor is doing through their very own customers, suppliers, employees, or straight from the competitors themselves will help you differentiate between your offerings and the offerings of your competitors.
This all may sound simple but short, but utilizing all the information that you can get from all these sources can help you get a notch higher than the rest.
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