Small Business Center

Steal Your Competitors' Clients

 

Before worrying about the cost of gaining customers this way, remember that your initial rebate or incentive offer is a one-time acquisition cost. The lifetime value of acquiring this new client could easily be worth thousands of dollars or more to your business.

For this strategy to work, your ads must reach your competition's clients. Research the places your competitors advertise -- online and in newspapers, magazines and the Yellow Pages -- and advertise there, too.

Then, when creating your next advertising campaign, ask yourself if your incentive is irresistible enough to instantly steal business away from competitors. With enough incentive and reward for taking immediate action, you'll have created an advertisement tempting enough to accomplish your goal.

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Steve Von Loren, a business coach with more than 14 years of experience, is the author of the resource guide How to Strategically Get Your Competitors' Best Clients for Only Pennies on the Dollar.

For bios of and stories by Entrepreneur.com columnists, please click here. For more information about Entrepreneur.com click here.

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