Having a challenger on your right heels helps you to pushes you to run faster. A competitor is the best force to give you the best so that it will help you to learn plenty from the successes and failures of the adversary. Right now you have set up a shop in town and created a niche market and developed a customer relationship. But one day a competitor moves right next door and that’s a red alert for you as the worst nightmare.
What To Do When A Competitor Moves Next Door?
When things are not going good and you need support, there are plenty of ways to survive and thrive even when direct competitors. So here in this article “What to do when a competitor moves next door?” I’ll help you to find some points to deal it with an advantageous way. Read on.
Start Researching or Study your Competitor
Like any skillful warrior, the best thing is to study your competitor thoroughly before the strike. For the best research below are the three best sources which will help you to do the research best. Take a look.
- Monitor their Review Page
To monitor your new competitor review their sites such as Google and Yelp which is a great avenue for you to monitor. This is the perfect option and opportunity to get inside the scoop on how the market actually feels about your competition, and also you can analyze the strength and weakness with customers.
- Sign up for their News Letter
Signing up with your competitor’s newsletter allows you to keep track of what they’re planning, and where they’re heading. Because this can be anything from new products they’re rolling out, to new services they’re looking to introduce. And also your local competition’s newsletter will be littered with information on all their latest, greatest news and updates.
- Be a Secret Shopper
You are not just a business owner, you are a consumer. So try to go to the store and try out their services. Embrace your inner customer and really contemplate how your competitor operates – what their strengths are and what they lack. It’s important you fully understand the experience your competitor is offering consumers.
Take down the Local Competition
Now it’s time for you to strike, so below are the two points that will help you to take down the local competition. Read on.
Through your research, you got an idea about the competitor inside and out and also you can use this knowledge to differentiate yourself from them. You also have got an idea about what your competitor’s strength and weakness. For example, through your research, you notice the only way to book appointments with your competitor is by phone. This can be a lengthy, and overall inconvenient process. Unlike your competitor, your business has an online booking system. You can personalize and differentiate your business on this aspect. Yes, both offer the same services, but market your business to clients as the place for “easy appointment bookings, at any time with just the click of a button.”
2. Focus on Quality Customer Service
Personalizing your business based on your new competition’s strengths and weaknesses is a great way to ensure that consumers come through your doors as opposed to your competitors, but it’s not the only way. Quality customer service becomes one of your business’ greatest weapons when the competition moves next door. So, if you show customers you care, and put their individualized needs at the forefront of every interaction they’ll become more than just customers, but also loyal friends. They won’t even notice a competitor has moved into the neighborhood.
So hope you liked the above article “What to do when a competitor moves next door?” and find useful. Did these tips and points help you take down your local competitor? If you find any of the above techniques and if you had loved this article we had love to hear about your results. Are there any questions or if you have any other suggestion and inquiries you can get in touch with me through the comments section.