This afternoon someone in my seminar thumped his chest. “I don’t have any competition,” he said. He’s proud of his business and equally proud that he’s survived for many years. Respectfully he’s wrong about the competition. Every business has competition and that’s not a bad thing.
Instead of ignoring your competition I recommend contrasting your brand against the competition in a manner that specifically defines your company in terms of contrast and advantage. After all, if you’re perceived as a commodity you can only command a commodity price–and that’s no bueno.
Instead of dismissing your competition, ask the following questions:
- What moves have your competitors made recently?
- From a customer’s perspective how might your competition be perceived as better than you?
Then craft your response by answering the following questions:
- How will you treat your customers?
- Define your best customers and their commonalities–what do they have in common?
- What problems do they have in common?
- What are the reasons that they work with you other than price?
It’s ok to admit that your competition may be viable to some. It’s doubly important that you supply a counter argument as to why your customer service model or your applicability/appeal to your best customers is magent. Utilizing a set-up and delivery branding strategy creates contrast, scarcity, and positive leverage.