Do You Know Who Your Competitors Are? Are You Sure?

When most businesses consider their competition, they tend to think of the obvious – their direct competitors. If I run a salon, the salon across the street (assuming it targets the same clients) is my direct competition. But direct competitors aren’t the only competitors we need to be concerned with.

We need to also be concerned with our indirect competitors.

Indirect competitors really represent “any other alternative” to what we have to offer. So, in the case of the salon, picking up a hair color kit at the grocery store represents  competition – as does doing nothing at all. Any other alternative to what we have to offer needs to be viewed as competition.

Here’s why: as we consider ways in which we will communicate with and attempt to influence our target audience, we need to think of all of their potential objections to what we want them to buy. We need to get inside their heads and think about not only our direct competitors who they might choose over us, but also any other alternative that might keep them from our doors or our shopping carts.

Then, we need to write copy that addresses all of those potential objections. So when we’re attempting to appeal to people we’d like to draw into our salon, we need to talk about how our salon stands out from our direct competitors and why seeking salon services represents value, convenience and a higher level of quality over other do-it-yourself options and how good people feel when they do decide to get their hair styled or colored, get a massage, etc.

Basically, we need to sell. And, in order to sell effectively we need to think like our customers and think about all of the other options they have available to them and all of the varied reasons they may also choose to do nothing at all.

Who are your competitors?

See our free whitepaper on 15 Strategies to Increase Your Sales.

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