The Greatest Lesson Businesses Can Learn from Baseball
There may be 30 Major League Baseball teams competing for the World Series, but there are immeasurable amounts of businesses competing to be the leading resource within their industry. Oversaturation is a major challenge that nearly every company is facing. From the food industry to fashion and finance every market is becoming increasingly competitive, making it easier for your audience to become attracted to your competitor. Becoming a desirable brand in your market is about understanding the game and hitting your target audience more accurately than your competition.
While sports and business may seem unrelated, many basic principles are mirrored in baseball, as the tactics baseball teams use to study their competition can be easily and effectively applied to a company’s marketing and sales strategy.
Baseball is more than just hitting the ball and hoping you don’t get out, scoring runs or striking the batter out each inning. It is a game of analyzing situations and how one reacts to making game-time decisions, which will ultimately determine whether it will be a victory or a loss. Like any competitive sport, winning in baseball takes sustained effort; an effort derived from obtaining a set of skills that have been mastered and perfected through education, practice and experience. Baseball involves intelligence, planning and reacting appropriately to your opponent’s actions. Studying your competitor is an in-depth tactic and is one of the most important aspects of the game in order to reach optimal performance from your team.
For example, being the on-deck batter is the most critical part of the game; it is not only about warming up your bat swing, but timing the pitcher’s ball speed. The on-deck batter examines all aspects of the game. They are planning how they can best help their team score, paying attention to the umpire’s strike zone observing the tendencies of the pitcher and searching for the weak spot on the field. Once on home plate, the batter must make a judgment involving quick-thinking and decision making that hopefully results in your teams’ advancement.
To be and remain a successful company, you need to become more desirable, innovative and ahead of competition in your designated market. Similar to baseball, executing a successful strategy takes concentrated competitive analysis that provides answers to questions such as, what are your competitors expected actions and how can you best help your staff increase brand relevancy? Think of it this way, your competition is the pitcher and you are the on-deck batter. The pitcher is consistently trying to find ways to trick you; getting one pitch ahead in the count. However, if you have studied and examined all aspects of your rivalry, you can determine what their next move is, essentially providing you with the skills needed to gain the competitive advantage..
For some companies, especially small businesses, it can be challenging to find suitable resources that’ll help increase your analysis to attract a wider audience. However, corporations which utilize the benefits of a loyalty program can meet its audience’s needs before its competitor does, retaining loyal customers in the process. Offering consumers a unique and personalized experience targeted to meet specific needs with desirable rewards, keeps your company relevant and prevents customers from looking for services elsewhere. Loyalty program providers, such as Rymax Marketing Services, develop vital marketing solutions and analytical measurements that track the progress of your loyalty program. This ensures that your business is staying prominent within your industry.
As competition builds, it is important to keep your eye on the ball at all times if you want to be the winning team or company. Applying analytical skills to track and study tendencies, actions and weaknesses from your competition opens the field for more innovative opportunities that will catapult your company on top. Receiving assistance from a loyalty-marketing provider is a decisive and unique tool that can increase your overall retention rate, bringing home the big win!