Admit it or not, you might see your competitors as a thorn on your side. You may feel that they’re the reason why you’re not succeeding in your marketing or dominating your market segment. You’d probably prefer them to be out of the picture if you had your way. But the truth is they make you work smarter and that helps you make your marketing more competitive. Still, that doesn’t change the fact that they are out there to beat you. So to help you out, we are giving you ways to get ahead of the competition.
1. Stop Playing the Same Game
Learn where your competitors draw their strength. While it may be tempting to develop the same strengths and take the battle to them like what most television networks do, it may not be a good idea. It had taken them time to develop their marketing strengths and they’ve likely worked them to near-perfection. You, on the other hand, may still be playing catch up. You can meet them head on, or, you can look objectively into your own business and simply improve on it. Start by identifying your key selling points and build your marketing strategy around them.
2. Exploit Competitor’s Weakness
Your competitor’s weakness can be your strength. No business is invincible even while it’s on top of its marketing game. They must have a weakness, and that’s what you need to find out. Ask yourself, “What were the difficulties I encountered while using their product? How can their products be further improved? What’s my customer experience in dealing with their company?” Once you have answers to such questions, you can use them to your advantage. This will help you differentiate your business from your competitors and it won’t take long until your clients take notice. That’s how Apple rebounded from their near collapse. You can do the same thing.
3. Seek Partnerships
You don’t necessarily have to do all the marketing all by yourself. There may be another company or business that’s also going up against the big guns and you both may have common goals. You can set differences aside, contact them, and build a strategy together on how you can tackle the bully through marketing, or whatever. Remember, there’s strength in numbers.
4. Don’t Give an Inch
As brutal as it may sound, you sometimes must keep up with your marketing efforts even when the competition seems to have raised the white flag. Their sales may be down; they may be recalling their products or going through an expensive court battle. Is it then the time to relax? Not quite. This is really the best chance for you to build your momentum and boost your sales. As you move ahead, the competition will find it hard to reclaim the top position.
Challenging your competitors is never easy but with these four moves, they may just take you more seriously as a player in the game of commerce.