Competition is not a bad thing. In fact, competition is important to the overall growth of your business and has the potential to impact your bottom line. As more competition surfaces, it is important to tell everyone why they should buy their animal nutrition products from you, and to have the courage to set yourself apart from others in the business.
Be innovative.
Chances are you aren’t the only livestock nutrition company in your town or county. You are going to have to get creative in ways to draw those customers in to your business and keep them coming back. You will likely need to adopt new business services or marketing strategies to get customers to try your products. Is the local cattlemen’s organization having a meeting? Offer to provide part of the program in exchange for some time to talk about whatever
product best fits the season.
Provide service.
It’s one thing to sell an outstanding product. But how does your customer service stack up again the competition? Outstanding service will go a long way. Do you live in an area where there are “hobby” farmers who work a 9-5 job? Stay open late so they can pick up their products after work. Delivery is a big service that many offer, but making sure that the product is delivered on time to the proper place is important.
Know your customers.
Even though you think you are in the feed business, livestock business, equine business, nutrition business, the number one business that everyone is in is the “people” business. Building a relationship with your customers shows that you are genuinely interested in them and their program. Often business relationships evolve to friendships that evolve into long-standing customers. Know what products your customers need and when they will need them.
Tell your story.
It is ok to “toot your own horn.” You’ve got a good product, so let others know about it. This might be on your social media channels, a sign along the road or even at the local auction barn. Get out and spread the word, and encourage your customers to tell their neighbors if they like the products too. Positive peer reviews are a positive marketing tool.
Get motivated.
The fact you have competition should motivate you to be a better business person. You will need to be highly motivated to remain the better business owner. Be proactive, alert, creative and above all focused. Always think of better ways to satisfy your customers.
Staying competitive in the marketplace does take a certain amount of courage. But if you remain innovative, build relationships and provide outstanding customer service, you will edge out the competition.