Petrogram - Fall 2018 - 16

FEATURE

Five Market
Domination Strategies to

DEPLOY FOR EVEN
MORE PROFITS
By Betsi Bixby, Owner, Meridian Associates, Inc.

O

ne of my greatest joys
is when clients discover strategies and
develop game plans
that result in market
domination. What does
it take to dominate? And how are even
relatively small-volume marketers without
big-volume-buying advantages getting
that done? Here are five secrets to success
no matter what your company's current
size or sectors.
1. Identify, understand and market
your best key strength. I'd like to illustrate this point with a CEO I was recently
coaching in our M-Power Coaching
Program. This marketer wanted innovative ways to shore up and diversify
his company after a low-bid competitor came swooping into his territory,
taking one major account and significant volume from him. He was, of
course, lamenting his loss. He felt this
bigger competitor had buying-price
advantages. I completely agreed.
But I deliberately shifted his focus
through key questioning about new
accounts he had acquired and customers who hadn't moved over to the new
16

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competitor despite the low-price carrot
the competitor was offering. What joy
to see him self-discover and identify a
unique strength he had always taken for
granted, and therefore, never marketed.
We then co-developed the outline of
a plan to market that strength. And
this all happened within the space of
a 60-minute phone call!
2. Be more than a supplier - be a friend
and trusted confidant to your top
customers. In an age where price bids
are the norm, the marketer that understands that selling is still driven by person-to-person relationships will always
win, even in this high-tech environment. In fact, the more high-tech business becomes, the more "high-touch"
becomes appreciated and is a key differentiation point.
Most smart marketers stay in regular
contact with their top 10 accounts, but
the key is to move beyond the typical
supplier discussions and genuinely care
about that person's well-being, creating
an atmosphere of friendship and trust.
I'm not talking about manipulative,
pretend-you-care techniques. I mean
taking the time to truly understand

View past issues of Petrogram online at www.fpma.org

what drives each person to get out of
bed in the morning and what keeps
them awake at night. And, more importantly, not telling a soul when you find
out. It's having honest, open, vulnerable two-way conversations on a regular basis. That is what turns customers
into friends who will stick with you over
a lifetime.
3. Get super-efficient so you can provide
the "wow" factor without going broke.
Driving waste and inefficiency out of your
service model allows you the financial
resources to delight your customers
beyond their expectation, which in turn
creates loyal, raving fans. Trying to do
"wow" without efficiency in your internal
processes is a bit like putting lipstick on
a pig. Everyone knows it's still a pig!
So where do your internal systems
still have a little pork? Your two best
clues are anything still handwritten or
in spreadsheets. Challenge each person on your team to come to the next
department or company meeting with
a list of what they still do by hand and
all their favorite spreadsheets. Then, get
prepared for a shock at just how long
those lists are!


http://www.fpma.org

Table of Contents for the Digital Edition of Petrogram - Fall 2018

Chair’s Perspective
How Gas Stations and Convenience Stores Should Prepare in Advance of an Eminent Domain Taking
C-Stores See Competitive Edge in Higher-Quality Hot and Cold Food Offerings
Five Market Domination Strategies to Deploy for Even More Profits
The Florida Lottery: Building Brighter Futures
Calendar of Events
Index of Advertisers/Advertiser.com
Petrogram - Fall 2018 - Intro
Petrogram - Fall 2018 - cover1
Petrogram - Fall 2018 - cover2
Petrogram - Fall 2018 - 3
Petrogram - Fall 2018 - 4
Petrogram - Fall 2018 - 5
Petrogram - Fall 2018 - 6
Petrogram - Fall 2018 - 7
Petrogram - Fall 2018 - 8
Petrogram - Fall 2018 - Chair’s Perspective
Petrogram - Fall 2018 - How Gas Stations and Convenience Stores Should Prepare in Advance of an Eminent Domain Taking
Petrogram - Fall 2018 - 11
Petrogram - Fall 2018 - C-Stores See Competitive Edge in Higher-Quality Hot and Cold Food Offerings
Petrogram - Fall 2018 - 13
Petrogram - Fall 2018 - 14
Petrogram - Fall 2018 - 15
Petrogram - Fall 2018 - Five Market Domination Strategies to Deploy for Even More Profits
Petrogram - Fall 2018 - 17
Petrogram - Fall 2018 - 18
Petrogram - Fall 2018 - The Florida Lottery: Building Brighter Futures
Petrogram - Fall 2018 - 20
Petrogram - Fall 2018 - Calendar of Events
Petrogram - Fall 2018 - Index of Advertisers/Advertiser.com
Petrogram - Fall 2018 - cover3
Petrogram - Fall 2018 - cover4
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