Are you choosing the right competition?

Whether you're setting up a new startup venture, or leveraging the brand that you have developed to date to go to the next level of your company's development, it's important to look at your competition to see what they're doing and more importantly, how!



The right competition

Great, but do you know who your direct competition is? If you've been trading for a while you will know the names that you are compared to, sometimes we are compared for the right reasons, sometimes by mistake. 

The right product

This is going to sound obvious, but the key component of a 'competitor' is selling the same product. Yes, I apologise just how obvious this does sound! But it is a very valid point. Take VOX D for example, one of our key products is Web Development and Web Design, but we don't count all other Web Development companies as our competition on this front. 

Are you local, national or Worldwide?

Again, if you're delivering your services to a worldwide audience then your competition isn't going to be a local supplier of goods and services. You're going to be talking to a different audience and these guys and girls need to hear different things to be persuaded that your product or service is the right one.

Don't just look at a single element

Make sure that when you're looking to list the direct competitors that you don't just look at their social media, or website or adverts but rather a collective of all the above. The message that they put across, the services that they mention and the ethos or standards that they adhere to will all have a factor in how they are seen within the marketplace.

RE-visit

After all of the above has been done and you finally have a true list of competitors, make sure you revisit your list on a regular basis. Better still, record and highlight areas of cross-interest, time-relevant topics and ahead of the curve conversations that they are having.

 

WHAT NEXT.....?

Great, so you have your list, keep an eye on them, record what they're doing and make sure that you are sticking true to your brand principles. If you need further help beyond that then get in touch today!

We're here to help with brand and competitor analysis or assistance in making sure that your brand is on-point.

Phone: 01283 777283

Email: [email protected]