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If your competitor is doing it, does that mean you should be too?

Jul 14, 2013

joe

There are arguments to both sides of the coin. It really depends on whether what your competitor is doing it smart! Here are a few ideas to think about for when you are thinking about doing what your competitor does.

If they’re doing it – why not do it better? Improve on what already exists. The idea is there for you to work with – so why not just make it better with a twist of your own competition
Slip into the tailwind Sometimes there are big news topics, articles, advertising or media plugs from your competitors. Slip into their tail wind (providing they are on a good streak) while the news is big and on everyone’s minds. Provide your opinion and knowledge to the same area, bringing you square with, or in front of your competitor
Model, don’t copy If your competitor is doing something great, don’t copy them. Instead, use their ideas as a platform to build upon and to increase to a better offering.
Don’t slash your prices You don’t always need to compete on price, understand why your competitor has dropped their price before you make the move to do the same. You don’t want to potentially lower your business name by giving a cheap deal. Do what is best for you and your clients and understand the value of your offering.
Watch your own agenda Your competitor and you may have very different goals and business plans. You need to make sure that your marketing fits within your agenda, not your competitors.

‘Never compete with someone who has nothing to lose’ – Baltasar Gracian Don’t compete with someone who has nothing to lose, start your own race – set your own goals and your own rules.
Learn from mistakes You don’t want to follow your competitor’s mistakes, but you can learn from them! One of the key things you should be doing to get ahead of your competitors, is to understand who, what, why and how you are marketing. Understand this and you will succeed where your competitor hasn’t.

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