2 1 DRAFT HIGH

2 1 DRAFT HIGH


Hey everyone, this is Stanley Ship
This is the 2nd strategy series And we will be talking about creating offers. Now, in this first part of the video,
we will be talking about Spying and researching your competitor’s
offer That’s actually the first thing you need
to do Before creating an irresistible offer. And, how to create, we will be talking about
How to create an offer that your potential customer
Cannot resist, and they feel dumb not to take it, So before that can happen, research is very
important You have to find out what’s the market rate,
What’s being discounted and what’s usually being given for free. Okay? And you want to try to beat those offers. But, creating a crazy offer is not about beating
those offer It’s about creating an offer so good that
your potential customer Will take it and become your customer at least
at the entry level. Okay? So I won’t be talking about in-depth research,
just a basic understanding and an overview and it’s very simple. The “first-things-first” is to find out
who are your competitors. If you are a local business, what I would
usually recommend my clients to do Is to go to Google Map, okay? In Google Map, search your business’ location,
okay? So here we have “search your location.” After you’ve search your location, like
if you’re a restaurant, or if you’re a beauty salon
In that local area, you would search that location, and then you have to right click
that location, And then “search nearby,” okay? Search nearby, then it will go to your search
bar again. And you will type in, let’s say if you are
a restaurant, you will type in “restaurants,” you don’t even have to type in “restaurants
in Shah Alam,” you just put “restaurants,” because it’s searching nearby your local
area. So, search for “restaurants,” “beauty
salons,” “gym,” or “hotel,” all the competitors will show up in the Google
Map okay? Search for the same business type of course. So, from there, after you’ve searched the
location and search nearby and you see the map populating all the competitors, what you
can do is, you can click on those pins. Pins are like this. You can click on those pins, and it will show
your competitor’s address, and all those details, website, their social media account,
their review, their business hours, and all these things. So, from there, you can go and look at their
Facebook, or any of their social media page, if they have one. If they do not have one, which is quite unlikely,
then you would have an advantage because they don’t have a Facebook… But most likely they will have a Facebook
Page or an Instagram Page and whatnot. And then after that, if they have their website,
in the Google Map when you search for their information, you can go to their website,
take a look at how their website is. Whether there are customers’ reviews or
commented anything, search for… look at their offers for the time being, any discounts
are they giving out, what are the products – how much are they selling for, it should
be all in their website. Okay? The third thing you can do. K let me just write it down here. From here, the first thing is their social
media, okay? The second thing is their website. The third thing is you can go to YELP. Okay? So you’ve known, you’ve seen all your
competitor business around the area, you know the names, go to YELP and search that business
name, or search that shop. You will see, maybe their menu. You will see their customer”s comment. You will see what are their offers. You will see how much their products are selling
for. Right? Or their service. Those will be all in YELP. Okay? Then after that, these are the 3 basic things
you can do, in front of the computer. Other than that, what you could do, is you
can go and be a customer, like walk into their shop,
Inquire for their service or their product, and you can even buy one and see what’s
their on board process like. Okay? That would cost you something but these are
all free. Or you can look at their review anywhere in
the Internet, in their Facebook, in their website sometimes, in YELP, there are reviews. And the 6th thing you can do is to collect
marketing collateral. Their brochures, their flyers, look at their
banners, in their website if they have any offers going on, their coupon, their vouchers. Collect all these marketing collateral and
then use it as your own reference when you are going to create an offer later. Okay so, these are the few things that you
can do after you found out who are your competitors in the local area. But if let’s say you’re an online business,
then it’s even simpler. Everything can be done online, if you’re
selling shoes online. You can type in “shoes Malaysia,” or “shoes
Selangor,” or “shoes online shop.” Then all the websites will show, and what
you will do is you can go into their website, you look at how much are they selling their
stuff for, or their service for. What are the current offers that they’re
running, is there any special so-called giveaway, or all these offers that they’re doing. So, these are the things you’ll be looking
for, if it’s online. So it’s even simpler, everything can be
done in front of the computer screen, you don’t have to be physically in the location. Okay? So, that will be all for the first part which
is competitor research. Actually competitor research also is involved
when you’re doing marketing, or even before you start your business, you want to know
the whole business landscape. Who are your competitors, what are the challenges
and the threats that you’ll be facing, if you enter into that industry, or even you
enter into that same type of business that your competitor is doing. You want to make sure you have all these things
clear, so that you know who you are up against, or you know what are the other players in
the same business or in the same field, right? Okay so, that will be all this video, I’ll
see you guys on the next video, which we’ll be talking about making your product a no-brainer-option. So, we will talk about how to package your
product or decompose your product. Alright? To some of you, may be a new thing. I’ll see you guys on the next video.

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