To read Nader Anise's bio on Wikipedia, go to:
Dear ,
I recently received this article by email...
It was sent to me by Silver Coptic Chamber member, Mina Michel Gorgy, who founded Cloudastick Systems, based in Cairo Egypt. Cloudastick delivers state-of-the-art solutions using the Salesforce platform.
Thank you for the article, Mina!
The article gives a few important steps on how to battle with competitors who threaten to wipe you out from the market.
Specially, this article is about how Best Buy is surviving -- even thriving (based on the latest numbers -- Best Buy beats earnings forecast) -- in a world that is increasingly dominated by
Amazon.
This is a lesson that so many of our members can learn, as nearly every business and profession nowadays is in some sort of fierce competitive battle.
How Is Best Buy Doing It?
Rather than throw in the towel and bow to Amazon's dominance, Best Buy found ways to go straight at Amazon.
1. FOCUS ON PEOPLE -- When the CEO, Hubert Joly, took over Best Buy in 2012, he went on a listening tour, visiting Best Buy stores (and even working in one) asking the employees what their gripes were and what corporate can do to improve. And he made changes!
2. TURN WEAKNESS INTO STRENGTH -- Best Buy knew that most people want to try out expensive electronics first before buying, so they strengthened their "showrooming" strategies. They essentially invited companies like Samsung and Apple to feature their products in their showroom and gave them exposure. Best Buy also allowed customers to have their items shipped or picked up, which cut the wait time of
getting product in hand.
3. DON'T SELL. BUILD RELATIONSHIPS -- One advantage Best Buy had over Amazon was human contact: They had advisors at their stores (who don't work on commission) who were willing to spend as much time as the customer needed to answer questions. In addition, Best Buy implemented an in-home program that allowed advisors to go to customers' homes, free of charge, to consult with them there.
There's no telling what the future holds for Best Buy, but based on their most recent strategic decisions, they're doing just fine.
Until next time...
If you have any comments, ideas or suggestions, please email me at: nader@copticchamber.com.
Nader
Founder of the Coptic Chamber
ABOUT NADER ANISE
For the last 30 years, Nader’s talents as a marketing strategist and copywriter have generated hundreds of millions of dollars for himself and his clients. In addition, he is a recognized PR expert, and has been featured in countless media outlets such as: The Wall Street Journal, NBC, CBS, Forbes, Bloomberg and USA Today.
Nader’s storied marketing and sales experience has enabled him to mentor business owners in all types of industries, including: legal, medical, financial, therapeutic, mortgage, investment, wealth, retail, insurance, transportation, pharmaceutical, clothing, restaurant, real estate, education, insurance, construction, internet, telecommunications, manufacturing and many others.
Nader has trained over 25,000 business owners from all around the world on sales and marketing.
To read Nader Anise's bio on Wikipedia, go to:
3 AMAZING FACTS ABOUT NADER ANISE, ESQ.
FACT #1: In 2001, Nader wrote a one page press release that generated over $2,200,000 in free national publicity.
FACT #2: Within four years of starting his law practice, Nader was featured on the cover of Lawyers Weekly USA section B (currently Lawyers USA) and was lauded for his remarkable achievement of building a "thriving law practice... without spending a penny on advertising."
FACT #3: Nader landed on the cover of the Wall Street Journal after sending the editor a cold email with a subject line that consisted of nine words, including, ONE key, riveting word.
(BONUS FACT): Nader wrote a direct mail letter for a small business that created such an overwhelming response, the owner sent Nader a frantic email with the message: "You're killing me with all the new business. We are busting at the seams and all my employees are freaking out..."
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