Is Your Competition Luring You Off Track?

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Have you ever had the experience of driving along, paying attention to something off in the horizon and next thing you know, you’ve driven to that spot?  And it wasn’t where you meant to go?

The same phenomenon can happen in your business.  Most business owners I met pay a lot of attention to what their competition is doing.  We definitely need to keep an eye on the competitive  landscape.  But there’s a very fine line.

The danger in keeping track of the other guys is that you lose track of your own path.  We tend to move towards what we pay attention to.  And you don’t want to let your competitors determine your marketing strategy.  That’s a quick way to:

  • Deplete your resources
  • Look like you’re playing the “us too” game
  • Lose the momentum of your key messages

You want to be the leader in your industry, not follow someone else.  The best way to beat your competition isn’t watching what they do.  It’s doing what you should be doing.

If you have and follow a marketing plan — you can enjoy the best of both worlds.  The marketing plan keeps you on your course.  Heading in the direction you have determined.  When you know where you’re headed and keep checking the map to see that you’re on course, you can afford to peek at what the competitors are doing.

Just make sure you’re following your course, not theirs.

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Comments

  1. Thanks for the link back to my business coaching blog.

    I always recommend to people that they should be aware of what their competitors are doing but to focus their attention on their customers.

  2. Melissa Ingold says

    Great Advice Drew. You are so right about a having a marketing plan. Marketing plans seem to keep you on the straight and narrow. Without out one it is so easy to miss your turn.

  3. This is a great observation and I agree, no matter what you do it is important to not lose track or focus where it should be, with your won business.

  4. something like keeping up with the jones’s except business-wise. interesting. and too much of this tends to blur the distinction between you and the competition, lowering your perceived value added perhaps.