How to Stay Ahead of the Competition

UPDATED: October 15, 2015
PUBLISHED: June 22, 2015

Do you understand your competition? High achievers need to know what’s going on with their competitors. It’s important to know how your competitors are talking to your existing clients or prospects. What are they saying about you? What are they saying about your business? Do they have an online footprint that you don’t have?

Successful people keep up with changing technology to remain competitive—including social media—but as with everything, there’s a balance. A lot of people are making a lot of money with face-to-face contact, and a lot of people are losing money because they’re completely focused on social media and not on face-to-face relationships. Do your due diligence and know where your blind spots are. Keep current on the things that are relative to your success, and become consciously aware of things that are outdated. (If you’re still using LinkedIn or Facebook five years from now and your customer is using a completely different method of social media to communicate with people, you could be missing out.) Change what needs to be changed. Stay competitive on the ground and stay competitive in virtual spaces.

You can make a small business feel larger by harnessing the power of technology. Build a database of existing clients and customers, and market to them year after year for repeat business. Consider email blasts, text marketing and other ways of communicating virtually to help you stay in touch with your customers and communicate vital messages.

You may not need the latest advances in technology, but one thing is for sure: You need what your customers want.

In this mobile world, technology makes it simple to foster stronger relationships; and if you’re not using it, you’re losing.

This article appears in the July 2015 issue of SUCCESS magazine.

Check out the 5 very best ways to thrill your customers—and give them a reason to come back.

Tony Jeary is an author, executive coach and presentation strategist. Jeary has published more than three dozen books about making presentations and strategic effectiveness. He coaches the world's top executives from companies such as Wal-Mart, Ford, New York Life and Texaco.