A lot of businesses think this. They’re all wrong.
No matter what your product or service is, your prospective customers always have another choice.
With online access to a world of products, it’s likely you have direct competition from someone solving the same problem as you.
If you’re a local business, are you actually the only one in your area offering your services? If someone else is, you have competition, even if you think they look piddly.
And when you have competition, you need to know their game plan. Then you plan so you’re perceived to be better.
Do you offer superior quality, value, or experience? Is there a unique aspect to your service that sets you apart? Do you distinguish yourself with a higher level of service or professionalism?
You’ve got to know the answer to these questions and communicate your advantage.
You might do this overtly. Our burgers are flame-broiled and theirs are microwaved. Or Lowest price guaranteed or your money back!
But most of the time you’ll just imply how you deliver unique value. This is the job of your unique value proposition.
You develop that proposition by analyzing your competition. Visit their website, check out their location, give them a call posing as a prospective customer. Understand their offer as if you were going to spend your money with them.
Then determine why you’d choose you. Put yourself into a potential customer’s shoes and make sure it’s crystal clear why they’d be motivated to go with you.
If you don’t make it clear, you can’t expect them to figure it out on their own. They won’t take the time.
Maybe you look around and still don’t believe you have any direct competition. Nobody really matches your offer.
But you’re forgetting something. You’re also competing with hesitation and indecision. People don’t really want to spend their money; they’re looking for excuses to wait.
And when they do, life gets in the way. They move on. Maybe they’ll come to a point where they must buy, or maybe they won’t.
How will you compete against that? How will you turn indecision into decisiveness?
Businesses compete. You have competition. Don’t deny it.
Embrace it. And create a winning strategy.