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Why not own 100% of your market?
hat title is not just me trying to be catchy or cute. I’m dead serious. When I say, “separate yourself from the competition. Then eliminate them.” I mean it literally. I’ve done it.
One of the larger clients that we work with regularly puts two to three competitors out of business each year. His operations are run so smoothly, his marketing so compelling, and his customer satisfaction is so high, that his customers are irresistibly drawn in and back again, time after time. They are helpless. In their minds, they would be fools to go anywhere else to get their clothes cleaned.
This cleaner doesn’t hate all other drycleaners, and he doesn’t go around bragging about their demise. He just has a problem with anyone taking their cleaning anywhere else. It’s not just because he wants the money. It’s because he knows that if they go somewhere else, there’s a good chance that they’ll pay too much, that their clothes won’t receive the proper care, and that the customer will get mad at all drycleaners. (Funny how that works: customers go looking for the cheapest cleaner they can find, then, after their clothes are lost or damaged, or they themselves are rudely treated, they swear off all drycleaners and vow to do everything they can to never use professional services again.)
Most drycleaners don’t even realize that complete market domination is an option. They just figure, heck, there’s always going to be competition in business. And they’re right — and wrong. Just ask Bill Gates if he has any competitors in operating software.
Do you think The Golomb Group has competitors? The answer in both cases is “Yes.” Does anyone else have half a chance of dominating their markets? I don’t think so. Can you position your business to be the undisputed leader in your marketplace? Of course you can.
We’ve found that there are only a few reasons why competition even exists in the first place. You would think that in every category of products and services that there would be, at least, one competitor that was so good, that was so aggressive, that the competition would be overshadowed. But it really doesn’t happen very often.
Following is a short explanation of reasons why you might not completely own your market, along with prescriptions to fix the problem. See if you can identify and remedy the situation. If so, there’s no question that you’ll be able to own 100 percent of your market.
Reason #1: Someone else has a better deal.
I’m not talking about price here. I mean that there’s a competitor who is offering more value to your prospects than you are, and the prospects recognize that fact and don’t buy from you. It’s simple enough: if you’re not offering the best deal possible, then you shouldn’t expect to win.
I don’t mean to offend anyone. This is just the number one reason because it’s the most basic, yet often overlooked.
Prescription #1: Innovate.
Innovation means simply figuring out a way to offer more value than any of your competitors. There are thousands of ways to do this. Just ask yourself one easy question: “If I were a customer of my business, what would compel me to buy from me instead of my competitors?”
If you can’t answer that question and aren’t willing to work at it until you do, then you may as well resolve to a life of mediocrity. Remember, you’re looking for real, quantifiable, exciting and compelling reasons for customer to choose you. Not things like, “we’ve been in business for a zillion years.” Not things that are nice, but all of your competitors do it, too. Not things that your customers automatically expect from any drycleaner.
If you don’t have an answer then you’ll have to innovate. If you’d like help, give me a call.
Reason #2: People perceive someone else to have a better deal.
O.K., so you’ve innovated and you’re now the best deal. Anyone in your target market would be foolish to go to your competitors. But they still do. Why? The only possible reason is that your marketing doesn’t effectively educate your prospects. You may be attempting to communicate your advantages, but your prospects either don’t believe you or you’re not their “top of mind” choice.
Prescription #2: Dominate.
First, target your marketing to all prospects in your area. The whole key to effective marketing is to let your target market know in a consistent, compelling way that you are offering the very best value for their money. Guiding them through your educational process will build their trust over time.
Reason #3: Your prospects don’t know that you’re an option.
If your target market is small and easy to identify, then this should not be a problem. Most drycleaners have 2,500 to 3,000 regular customers per location. It is very easy to target these people on a regular basis. If your market consists of a much larger base, then you need a broader, more constant approach.
Prescription #3: Dominate, but do it cost effectively.
The biggest mistake here is to buy large Yellow Page ads, newspaper, television and radio advertising. If you’re a Fortune 500 company, that’s fine. Not that you should never use these media, you just have to be extremely careful not to break the bank.
This is not an overnight process, but if you follow these three prescriptions you will, in time, own 100 percent of your market.


Dennis McCrory is president of The Golomb Group Inc., a firm that designs marketing programs for drycleaners. Contact him at The Golomb Group Inc., 7664 Plaza Ct., Willowbrook, IL 60527  Tele: (800) 679-5856  E-mail: dennismccrory@golombgroup.com


Dennis McCrory
It’sYour Business
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