September 14, 2020

how to beat competitors in your business

How do you win your competitors in business without fail?

Pay close attention. Because for every 20 seconds that passes, one business owner is kicked into a dirt grave by their competitor. 

(Okay, so I made that fact up. But besides the time, you know I’m a little bit right.)

But, let’s see. You want hard stats? 

Try the fact that 543,000 new businesses start EACH month. That’s roughly 6.5 million a year, and any number of them could be the one to put the final nail in your coffin. 

However, I bring good news. Well, me and Sabri Suby, anyway. 

If you haven’t heard the name Sabri Suby cross your timeline yet, he’s the owner of King Kong -Australian digital marketing agency that brings in about $1.33 billion in sales-, and the author of the viral marketing handbook Sell Like Crazy. 

And he’s achieved all of this by being one of the best in the game. 

…As well as inventing a little trick he likes to call the Power Guarantee. 

One that -according to him-, is something that ‘…Slaughters Your Competition And Leaves Them Screaming For Mercy.’

Okay, but does it though? You be the judge of that. Here’s what Sabri advises to really beat your competitors in business.

What is a Power Guarantee? 

Sabri’s Power Guarantee a surefire method to getting customers and prospects to trust you, even though they might have been burned by other similar experiences in the past. 

“Think about that for a moment. If you’re not willing to guarantee any element of the products and services you sell, why should anybody trust you with their hard-earned money?” 

Sabri goes on to tell us that having a Power Guarantee is one nugget that most businesses are missing right now to dethrone the competition. 

Plus, he’s right. 

Even if you were focused on testimonials, reviews, proof that your business is legit–your prospects will still doubt. 

It’s human nature to doubt, worry and obsess over the possibility of your product/service not fitting them, right? 

Here’s what a Power Guarantee looks like; 

“This FREE Behind-The-Scenes Will Show You How To Go From 0 To 50 Clients… 

Click Here To Claim Your FREE Spot Right Now!” 

Here’s what a risky/unprofitable/no guarantee at all offer looks like; 

“Pay $37 To Enter The Behind-The-Scenes Session Right Now!” 

Obviously, you know which one you’ll click. 

It doesn’t matter if you’re leading your customers to a paid offer after that, rather, the promise of FREE becomes your Power Guarantee. 

More prospects are gonna be clicking the former because they KNOW that if this session wasn’t for them/didn’t bring any benefit…that they didn’t spend one cent on them anyway (as opposed to the risk of spending $37 for something that might be a disappointment.) 

All caught up?

Let’s get to the 7 steps on creating a Power Guarantee that’s about to win, win, win compared to your competitors in business.

1. Look at what everyone else is doing. 

Get your laptop out. 

Go to this site called Buzzsumo and get yourself a paid membership. 

(No Buzzsumo’s not giving me any money for saying this. They’re genuinely a kick*ss website, and it’s the one good investment you’ll make this year–TRUST ME.) 

Buzzsumo is a power-packed site that lets you search what’s trending, what people online are talking about right now, what your competitors in business are doing…

…And how you can slip yourself into that conversation. 

You’ll need to type in the keywords associated with your business, then write down the names of at least 10 of them on a piece of paper. 

Once you’ve got that down, Google your competitors’ names with the words ‘guarantee’. Eg; Digital marketing XYZ agency guarantee. 

You’ll find 30-day return policies (for products maybe), money-back guarantees, etc. Do that for the rest on your list. 

Sabri tells you to notice a few things. What trends do you see? Do you find any specific performance-related guarantees? What are your competitors in business missing? 

2. What can you offer? 

Once that’s jotted down, narrow down on your own strengths. 

If you’re super confused about what that is (or you’re a newbie at your online business still), try to recall what people have to say every time you deliver a piece of work. 

Do clients thank you for replying them back really quickly? Are you “The Flash” at delivering an end product? 

Has anyone told you that what you do saved them a lot of money and time?

Sell what YOU DO THE BEST. Your own little unique business trait, compared to your other competitors in business.

3. Be specific of the pain that you’re solving. 

Before I started my own digital marketing agency and became a business owner, I was a freelancer. 

I worked for clients across the world, and managed to fill up my portfolio really quickly! Had that ideal ‘laptop life’, working from a Starbucks cafe, no boss to answer to…

…But, news flash? I f*cking hated it. 

I hated how I worked 18+ hours a day, only earned a SAD 300 bucks for designing a website AND writing copy for it. Just working, working, working my life away while other freelancer friends of mine were making $10-$30k/month just opening their laptops for 4 hours a day. 

“They can charge more for their work,” I used to whisper to myself. “It’s because they’ve been in this for a long time.” 

That was a lie, and I knew it. I had a friend, Adam, who’d only been freelancing for 4 months longer than I was–and he was making 8x what I made on a single project. 

I’ll never forget the day Adam told me this (and it honestly changed my life). 

“You’re not selling a service, Reeve. You’re selling the solution to a problem. Sometimes that problem can cost millions of dollars of dollars if it’s not treated…what’s wrong with taking a few thousands from treating that problem?” 

It was like I could see the world in a different light. The very next week, I changed the way I marketed my services, adjusted the offer, and priced it for RM8,000 instead of RM800. 

And I landed the F*CKING SALE.

So how did I change the offer?

I learned to sell the solution to a problem…

…Not a web design service, or content writing service, etc. 

Sabri says the same thing in Step #3 here. 

“Your guarantee should be specific, not some vague notion of satisfaction. 

Think about the SPECIFIC results a customer wants, and what EXACTLY they’re trying to solve.” 

Better sleep? Reduced stress? Pimple-free face? 

Make your Power Guarantee measurable. 

4. It’s payback time. 

Obviously you never want to disappoint your customers/clients. 

But your payback is there to ease their minds, in the case that this offer isn’t for them. 

You want to create a payback that looks attractive to someone considering it. YET, it can’t be something that costs you much money/time/resources wasted if someone claims it. 

5. Test, test, test!

You’re 80% there.

But before you can start plastering your Power Guarantee everywhere you can think off, you need to test it. 

Sabri suggests that you put this on your product/service’s social media pages like Facebook and Instagram. Then, include them in one or two landing pages (not all, though) and test them out. 

You’re gonna want to pinpoint whether or not this New Landing Page is pulling in the sales, after your Power Guarantee is included. 

Moving on, you can even test out two different combinations of Power Guarantees.

One could be a 90-Day Money Back Guarantee, and the other could be a Full Refund After 2-Days, etc. 

Start experimenting! 

6. Show it off. 

…And make it known!

Plaster your Power Guarantee on your ads, websites and everywhere that has your brand on it. 

Of course, choose the one that has brought you the most conversions from all your previous split testing. 

7. You’re done! Name your Power Guarantee. 

Once you’ve got all that penned down…come up with a new way of blowing your competition 100% of the water. 

With something f*cking awesome like ‘Get Ranked on Google In 60 Days Or We Work For Free.’ 

[Of course, make sure you can live up to that ;)]

Sabri encourages you to name it something memorable such as; 

  • Unconditional, Money-Back Guarantee
  • 100% On-The-Spot Full Refund…
  • …something of the sorts to really emphasize the value and risk-free aspect of your offer! 

Companies such as Domino’s Pizza with their Pizza Delivered In 30 Minutes (Or It’s FREE!) is an example of an excellent Power Guarantee. 

And it’s about time that you start implementing this in your very own brand…

…Because it truly is the ONE tactic that’s going to allow your prospect to make a decision going with your brand OVER someone else’s.

About the author 

Reeve Yew

Reeve is the CEO and a Member of Forbes Business Council.

He has spoken on stages, both online and offline, alongside world class entrepreneurs and marketers like Gary Vaynerchuk, Brian Tracy, Kevin “Shark Tank” Harrington and Mark “Godfather of Internet Marketing” Joyner.

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