What to do when the competitor moves in next door

Hi all,

Hope everyone had a great weekend.

This weekend I received an emergency call from a client that was in panic because as they pulled up to their business they saw a sign where a business that happens to be their competitor would be coming soon and consequently moving in next door. The client wanted advice on what to do especially when the competitor possibly has a bigger budget than you do. To calm the client a bit, I jokingly said some gas and a match is one thought lol. If it’s an online competitor then a special welcome virus for their site would be another thought lol.

After getting the client calmed I expressed to the client that instead of feeling defeated that she should use this as an opportunity to grow, be better, and shine even brighter than before. We then discussed what to do when a competitor moves in and how to use this to your advantage whether than disadvantage.

Whether a competitor moves next door, up the street, or just to close for comfort here are some ways to make sure your business thrives and that you’re the last woman/man standing.

Beat the competitor by changing the rules to the game. Change the rules of the game by offering something your competitor doesn’t and/or can’t. If they’re a large retailer then try offering something extra special remember it’s the little things that count. So, if it’s just something free, a trinket, or  money off their next purchase, offer it. You can also reevaluate your customers values and offer something new that speaks to your customers either through adding a new product or aspect to your customer service.

Beat the competitor by identifying value deficiencies. By identifying value deficiencies this is your opportunity for improvement and to be innovative. Identifying these deficiencies will help you add value to your products and/or services. Focusing on the values that your CUSTOMERS want will help drive the customers your way and away from the competitor.

Beat the competitor by focusing on a market within your target market. As we all know over time things change so we might have started focusing on one target market, but over time moved into other markets. Use this to your advantage. Once you identify a new market focusing on converting them into customers by aligning with their values.

Not exactly as easy as pouring gas and lighting a match, but it’s legal and will get you farther. So, use these steps to not only beat the competition, but also grow your business and steal theirs. Good Luck and don’t forget still available for download, “12 Reasons Why People Aren’t Buying From You”. Get your copy TODAY!!!