Quick Marketing & Business Tips
Welcome to our video series “quick marketing and business tips” where we’re giving you actionable advice, tips, and recommendations, to grow your business today.
This is episode #3.
Let’s dive right in!
Episode 03: When it’s OK to recommend a competitor
As business owners, we are terrified of the idea that a competitor might steal our customers. Sometimes, we don’t even want to name their brands, and maybe we hate them and we expect to hear bad news for them.
But this way we are doing ourselves a disservice. This is not how you should look at competitors.
I think of competing brands as a healthy sign telling me the market is alive. It’s also a huge opportunity for me to improve as an entrepreneur, to innovate, and create better products.
Competition is absolutely normal. Without it, what do we have?
And there are times when it’s OK to recommend competing brands.
Let me share a story with you!
As some of you may know, I am also a hotel owner.
And one day, actually, it was late, after midnight, a family arrived at our hotel. Tourists from another country.
They asked for a room but I could not host them. the hotel was full.
I still remember the disappointment on their faces.
It was a high-traffic season and the majority of the hotels were fully booked.
Then, the little boy asked his mum with a complaining tone…
What are we gonna do now? Mum, I’m so tired.
I could not stand looking at them like that so I made up my mind immediately.
I said…would you mind if I try to book a room in another hotel for you?
Really, can you do that? the woman responded.
I said…just give me 2 minutes, please.
I picked up the phone and started calling competing hotels nearby, similar to our family hotel.
In just a few minutes, I had them booked.
They were so happy, relieved, alive again.
They thanked me and left goodbye.
But the next day they came back.
I asked them how they spent their night and if they enjoyed the place.
They were pretty much satisfied and now they wanted to use our outdoor pool and the bar.
I welcomed them and they had fun in our facilities.
What’s even more interesting, the next year they returned as our guests this time. They booked a room 3 months in advance.
When you can’t take more business, it’s way better to let your customers know and that you will do anything you can to satisfy their needs and wants.
Because they will remember you for being kind and helpful. Not just an arrogant and “cold” business owner looking only for money.
Marketing & Business
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Your host: Tasos Perte Tzortzis
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