Keep Your Friends Close And Your Enemies Closer

Competition

The drive to be at the top of the food chain is the type of success every business strives for.  Ignoring lurking competitors around you, who are clawing their way to the top in order to take what they think is rightfully theirs, happens on a daily basis – your reign, or potential reign, will cease to exist if you choose to ignore their presence.

Start out by doing a general search online of all the possible competitors in your industry.  Google is the perfect place to start your search – conduct a local search for ALL the select products or services your company provides.  When Google lifts the veil and reveals your rivals, do your homework-research the top 5 or so companies Google has so graciously provided you.

There’s bound to be a weakness that dwells within certain companies – discover your rivals “Achilles Heel.”  Research your competitors’ website-do their products and services seem more enticing than yours?  Do they elaborate on the particular benefits they offer?  Are they better than yours?  Is their website user-friendly and more appealing to potential prospects?

Want the real story behind your competitor’s edge?   Online reviews can provide you with some insight about their customer experience. Try Yelp or even Yahoo!, which allows users to post reviews of businesses with a 5 star rating system.  You also have the option of setting up Google Alerts, which can provide you with daily or weekly updates about your competitors or industry information.   The old adage “misery loves company” couldn’t be more true which means, sharing bad experiences are far more prevalent than sharing positive ones.

Get your competition on the phone! It’s very probable that you can attain even more information by calling up your competition and asking the simplest set of questions.  Often times, companies will be more than willing to inform you about everything you want to know about their business.

When all else fails, you can always rely on your customers to give you the answers as to why they’re sticking with you.  They can provide you with the inside scoop as to why they chose you over the “other guy.” Keep your eyes peeled because whether you believe it or not, you’re competition will always be real and potentially threatening if you choose to believe they don’t exist.

Have you “sized up” your competition? 

About TRC Staffing Services, Inc.

One Response to “Keep Your Friends Close And Your Enemies Closer”

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