Some of your competitors will go out of business.

None of us want to see this happen, but it will, and it is. There are lots of reasons why; cashflow, online competition, lack of government support – or even just that this has made them completely rethink what they want out of life and they are changing direction.

Whatever the reason, it leaves customers that they were serving at a bit of a loose end and looking for an alternative.

It was suggested to me the other day this made a business owner feel like a vulture! Not at all, you had no hand to play in the business closing and if you don’t swoop in quickly then you’ll miss out big time.

So – what you need to do is plan for this eventuality. It’s not something any of us would normally do but if this were to happen to one of your competitors you’ll need to act quickly – and do it right.

What you do will of course depend on your industry, your location, and the area you serve and of course your budget – but here are a few ideas

Create a Facebook/Social Media Campaign

Have a batch of ready-made posts to copy and paste alongside some memes showcasing what you do. Set a budget to boost these making sure you’ve selected a good target audience based on location, interests, ages, income etc that match your ideal customer. Even better – create a Facebook ad that’s ready to go as this will give you a better return than a boosted post if you do it correctly.

Target Local with Print

If you serve an area then despite what some may tell you, print advertising work really well. Leaflets, local ads, post office windows and notice boards – we call it the ‘Bananarama syndrome; it’s aint what you do it’s the way that you do it’. There are good print ads and bad print ads – far too many people try to cram far too much general information into the allocated space. This doesn’t work. Good, strong messages aimed at a target audience with a clear call to action brings results.

Update Your Website

Make sure your website is up to date – check links work, make sure opening hours are correct; all the regular stuff so people know how and when they can contact you but also make sure the information is bang up to date.  When was the last time you updated any content? Added a blog? Added a testimonial? If someone is visiting your site for the first time does it tell them straight away, in a nutshell exactly what you do? Is it clear to them that you can provide the same service or product, or better, than your competitor that is closed? It might be clear to you but to your audience it’s not always obvious.

Social Platforms and Google My Business

As with your website, make sure these are up to date and all the links work.  It’s important to have fresh content, as in a post that’s no more than a week old. People like to see that others have engaged with you, so if you’re struggling with engagement then maybe look at creating a simple social media strategy. Look at your profile as a visitor would and make sure it’s clear within the last 6 posts what you do – not everyone will scroll too far.

Reviews and Testimonials

How old are your recent reviews? You can shout as loud as you like about how wonderful your business is, but what really matters to a potential new customer is what the people you serve say about you. We put a huge focus on this in thebestof and help our members collect reviews – we know how important they are to helping you gain new customers.

There are lots of places you can collect reviews and testimonials; social media, add them to your website, third party sites such as thebestof, Trusted Trader, Which? web-based directories. App directories can work too, but people must download the app before they see it – they don’t just stumble across your reviews and Google stars by searching online.

Direct Mail and Lumpy Mail

Again, some will say it’s had its day but think back to the Bananarama Syndrome and it’s obvious they aren’t doing it right.  Don’t send random letters to businesses – they will class this as junk mail. What you should do is create a list of businesses who you want to target, spend some time identifying what they want and need and then craft a very non salesy letter that briefly tells them how you can benefit them.

So, you may be wondering what the lumpy mail element of this is? Well it’s something that makes you stand out, puts a smile on their faces and makes sure they remember you. We use Boost bars for our ‘Boost your Business’ campaign, we’ve sent flip flops for a foot in the door – and if you’re of a certain age and remember adverts, then you’ll know why we send club biscuits. There are lots of things you can do depending on your niche – and it doesn’t have to cost much either.

Pick Up the Phone

Something we should all do more often, especially now when we can’t do much face to face stuff. If you want to talk to them then give them a call, introduce yourself and ask if you can help. What is the worst that could happen? At best you could have just saved them loads of time looking for a new product or service provider and they’ll want more info; it really is as simple as that.

There is so much you can do. Make sure you are visible and easy to find when people start looking, have information ready to go if they need it, keep everything up to date and clear on what you offer (in a non salesy way) and remember to be sympathetic and tactful - after all, your potential gain is due to the closure of someone else’s dream