A winning strategy against competitors: how to get ahead

“Keep your friends close and your competitors closer!” – that is how, in marketing terms, we would rephrase the famous saying in the context of the tips and recommendations below. After all, if you intend to succeed in business, you cannot avoid competition, whatever you do. And is it really as bad as it seems at first glance? You could spend ages listing the downsides of competition and what a headache it is for most companies. But! Where there are downsides, there are upsides somewhere nearby too. At the very least, you need to identify them clearly for yourself. And see rivalry not as a reason to give up, but as a reason to do things differently: not just better, but much better than your competitors! What can you gain from competition, and how? There are various ways, and we are going to talk about some of them now.

1. Study your competitors

To identify their strengths and weaknesses. You don't need to hire a private detective or become a spy for this. Do the detective work yourself: visit their websites, order something as a customer, assess their level of service and pricing. Ask questions whose answers will let you pick out the information that matters to you, both on the surface and deep inside the process. Of course, you may not uncover all their tricks. But knowing how your competitors work will give you a starting point to decide what to do and what not to do. For example, so that you can offer your customers a longer warranty, more frequent range updates, and so on. But we advise you not to get stuck at this stage. It is far more important to broaden your thinking and your capabilities, only glancing at your rivals now and then. “If your opponent is stronger, your actions must go beyond his understanding” (Bernard Werber).

2. Don't look for similarities – look for differences

And develop them hard, whatever your line of business. There will always be something you do differently: more simply, more quickly, and so on. And this difference should run like a common thread through your business strategy.

3. Fill an empty niche

It has been shown that specialised goods and services inspire more trust than products aimed at “everyone and anyone”. Hence the idea of niching – specialisation, an area of expertise. Niching is a strategy of moving into narrower markets based on special offers and particular capabilities. So don't be afraid to talk to your customers and find out what they like about you compared with your competitors, and what they are missing but would like to have. This may lead to new features in your products or services – and so to a new niche where you can take a worthy place and become an expert. Focusing on the problem the customer needs to solve can prove highly effective. In the end, this may become your company's signature feature, giving you not just hope but real chances of success.

4. Don't look for a new original idea – give an old one an original twist

Another effective way to deal with competition. It is a kind of “repositioning”: presenting goods and services from a new angle that nobody else offers. Truly original ideas can be counted on the fingers of one hand. And original ideas don't always take off and make a business more profitable. For example, here is an original idea: selling macadamia nuts (the most expensive nut in the world) loose by weight, when none of your competitors stock them. But the question is: who will buy them, and how much demand will there be? Offering macadamias as a free treat with a purchase of peanuts, on the other hand, is a different matter altogether! It will only highlight your special attitude to customers and cement their goodwill towards you.

5. What you call your company decides how it sails!

No wonder there is such a thing as naming – developing commercially successful names and slogans for companies. A well-chosen name becomes a real asset, because it is more memorable and therefore sets you apart from your competitors and helps attract customers. The same goes for a slogan – a short, catchy phrase that captures the essence of your advertising message. Big brands use this skilfully. Many have created unique slogans known all over the world (e.g. “Nike. Just Do It!”, “McDonald's. I'm Lovin' It”). How do you make both your name and your slogan sell? Fortunately, you don't have to be a business shark with a huge advertising budget, nor do you need to hire professional name makers. Just switch on your imagination and analyse:

what your customers call your goods and services;
what problem they want to solve and what result they want to achieve by buying;
how they describe their feelings and emotions after the purchase.

A slogan must not be changed; it should be a constant that contains a statement, a question, an exclamation, a conviction, advice, news or a call to action (e.g. “Danissimo. And let the whole world wait”, “Everyone is crazy about you, and you're crazy about Maybelline”). In our view, Yandex's slogan “Everything can be found” is simply perfect, expressing both the essence and the benefit of the product. Throw out an inspiring, motivating phrase; don't ask, don't argue. Persuade and state it in advance (e.g. “Pringles. Once you pop, you can't stop”). Let the statement settle in the consumer's mind – and they will inevitably believe it. Rhyming slogans work well (e.g. the Ukrainian “Ne halmui – Snikersui”, roughly “Don't slow down – Snickers it”), as do slogans with a sense of humour (“Sprite. Don't let yourself dry out”). Interestingly, the word “slogan” itself, popularised by American advertisers, comes from Scottish Gaelic and means “battle cry”. So it is no surprise that a well-chosen slogan can become a weapon in the fight against competitors.

6. Make friends with your customers

Build strong relationships with them based on cooperation and mutual benefit. Become not just a supplier of goods or services, but a partner who helps them solve problems and achieve their goals. Win them over with attentiveness. Share ideas and offers that show customers you care about them rather than just wanting to make money from them. That kind of attitude wins people over. Pay attention to every detail! For example, many supermarket chains wish their customers a happy birthday and send them extra gift vouchers. A great move, you must admit! Thomas Jefferson said: “The price of victory is constant vigilance.” If you are vigilant in this respect too, your attention to customers will be repaid a hundredfold. How can you show this attention?

Be active on social media, staying in constant touch with your customers.
Invite them to presentations, promotions, or simply to drop by.
Send e-mail newsletters with special, interesting offers.
Accept customers' invitations to special occasions.

Keep things friendly – and the results won't be long in coming!

7. Always look after your image and team unity

It is like keeping in shape. Winning the fight is not enough; you also have to know how to use the victory. It is important not only to build a good reputation but also to keep it. So don't resort to dubious practices or lower the bar. Follow a philosophy of high quality in everything: in your products and in your service. Stick firmly to your company's approach, where every employee must carry its values 100 %.

8. Find a way to exceed customer expectations

“Nissan. Exceeding expectations” – that is how one well-known car brand's slogan hits the bull's-eye. Because it is not enough to find your competitive advantage and show it to your customers. Promise them more, and not only keep your promise without any hassle, but even overdeliver. That way you will definitely win them over.

9. KEEP IMPROVING!

Never miss a chance to learn something new, because there is no limit to perfection! What is relevant now, be it a technology, a strategy or anything else, may soon become outdated. What is a luxury today will impress no one in a year's time. And you need to be ready for that. To ride the crest of the wave and stay up to date, keep improving your skills and use every means of branding and presenting yourself in the best light. But never sit back and simply watch the process. In today's world everything changes too fast, changing us and our attitude to everything, including competition. You need to be able to benefit from any situation – including competition. We hope the recommendations above will be useful to you. Of course, no advice works 100 %, as every case is different. But! Competition weakens only the weak and makes the strong even stronger. The main thing is to think big and positively. As the cult writer Richard Bach said: “Everyone who is sure of their victory will sooner or later achieve it.” And that applies to competition too!

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