Why understanding who your competition is must be key to marketing your small business
In this article, let’s briefly discuss the importance why understanding who your competition is a must to marketing your small business and key to its success.
without knowing who your competition is, how can you expect people to come to you without giving them a reason? How can you be able to differentiate your brand differently to the competition? How can you possibly have your clients choose you over the next person when you don’t even know why you’re different? If you don’t know what you do differently to the competition, how can you expect your customers to?
People like choice and want to be able to choose. You need to be able to own that space in the mind of current and potential clients. They say in some sports that a winning strategy is built on good defense. Well in marketing, its built on great attack…an attack on the competition to be different and stand out.
To know which part of the mind to accommodate, you need to know what part of the mind your competition is playing in. Is it based on the audience, price, offering or location? You need to be in the part of the mind that hasn’t been taken by your competition. You want to be on, or towards the top of the list, if not the first. If you’re not first into a market, it makes the journey a lot more difficult.
Once you know what the competition are doing, you can then find that piece of real estate in the mind that you own and reinforce throughout the marketplace in everything you do.
Being first in the mind of prospective clients can greatly assist brands to position themselves in the mind space that they want, that piece of the mind they can call their own.
If you're looking for an experienced and adept marketing consultant for your small business to help you get your business in the public eye, you won't need to look any further than Little Marketing. Contact us here, we can’t wait to hear from you!