Ignoring or despising competition is an attitude more than one person has expressed regret for. Impressed by the innovative value of his product, the current development of his business, the entrepreneur becomes blind. Looking at the competition from a distance without trying to understand what its added value is, how it positions itself, what processes it has put in place, is a sign of a lack of professionalism. It is not a question of seeing what others are doing to disappoint or criticize them, but to improve their business. some ideas…
Set fair and competitive prices
You can determine the best price for your product/service after studying the price grid offered by the competition. You can then adopt a variety of pricing strategies: more expensive than your competitors to promote the quality of your offers or less expensive to attract customers who have gray wallets? a smart idea? up to you…
Set a different position for your company and your offer
If you want to be noticed by customers, why prefer all your competitors and risk drowning yourself in the crowd? You will often make a profit by offering a new position in the market… however without overdoing it and thus discrediting you with customers. Sometimes bringing in a simple basic touch can present you with a very different position on the market. And thus win over customers! Add value, you won’t regret it!
Ability to respond to customers…
… who legitimately ask themselves the question “Why should I choose your product/service over another?”. What do you do if you don’t know exactly what to answer? Looking at the competition can give you a wealth of valuable information that will allow you to make a convincing and convincing argument in favor of your product/service. A thorough benchmark is not a waste of time as it will in many cases be the element that will allow you to reach new customers who will be attracted to your offers.
Be able to defend your project in front of investors
Any investor needs to be reassured and explained why he doesn’t risk anything by investing in your project – and to gain everything. To do this, show him that you have a perfect order of the offer offered by the competition and that thanks to this, you are able to sell a product / service that has everything to succeed in imposing itself on the market. It is not enough to say that my product or service is the best, you have to say why!
Provide better product/service than your competitors
It’s no secret that what attracts customers and generates sales remains the quality of the offering. Knowing the competitors’ products/services thoroughly allows you to define the improvements that are possible in order to surprise the customer with a high level of offering and thus, to maintain it. Yourself, at the same price, wouldn’t you prefer to buy the best product offered? Plus is sometimes limited to a few things!