Competition is not a bad thing, it’s good. In fact, it’s great! Many of us thrive on it and may not even realize it. We love sports, music, reality TV shows. Those are all competitions. So, why when it comes to thinking about starting or building a business or trying something new in Internet marketing, are we afraid of competition? Why do we shy away from it? Competition is awesome, if you are on top. If not, you may get beat out. But, the objective is to find a way to win! That’s my point.
“America’s business model is based on Capitalism. Capitalism is an economic system based on private ownership of the means of production and their operation for profit. Characteristics include private property, capital accumulation, wage labor, voluntary exchange, a price system, and competitive markets. In a capitalist market economy, decision-making and investment is determined by the owners… and prices and the distribution of goods are mainly determined by competition in the market.” (Wikipedia)
People still come here to the USA because they do not have the same opportunities in other countries. I love that!
When you look at what you are marketing, find a way to win. Find a market no one has tapped. Think outside the box. If you are in a resort area, decide what is the best amenity you have and market it. If you are writing a book, find a market maybe no one thought would read your book. Or, maybe find a new way to tell people the same thing.
Let’s say I am writing a book. Here’s a couple different examples of how I might approach
First option, I tell you I am writing a book. I tell you I am published. I tell you to buy my book. I buy ads to tell you about my book and why you should buy it. I ask you to share it with your friends, maybe they might want my book. I place my book for sale on Amazon. My response, dull. If I am interested in your subject matter, I will buy your book, otherwise, probably not.
Second option, I tell you I am writing a book and involve you in the process. Ask questions about my subject matter. Engage you in some of my writings. Communicate why I am writing. Help you understand why this matters to me, why is it important to me that my book be published. Instead of asking you to buy my book, maybe I offer a free chapter so you can have a taste of my writings and give some honest feedback. I ask more questions, ask what you liked what you didn’t like so I can better understand who my market is … and is not. I will ask you to share it with your friends, so I can encourage more interaction. I place my book for sale on Amazon and then, go to work to try to capture a market for my book.
If you look in any bookstore or library, there are thousands of books and everyone has a place or they wouldn’t be there. Some may be there out of obligation to a publisher, but they are there. Your challenge is to be the best book in your market. If you don’t know your market, you can’t be the best!
So you have some work to do. How to find a niche market? Well, you have to be creative, different, engaging. No matter how much technology blasts us, the truth is, people still need people.
Authenticity is still valid. “Be who you is, not what you ain’t, cuz if you is what you ain’t, then you ain’t what you is.” (Jeff Easter) In other words, don’t just go after a market to sell them a book. Go after a market because it is where your books need to be to accomplish the goals you set for them. What goal did you set? When you first started? Did you want to entertain, inform, encourage, help? Then, look at your competition. Often, you can learn a lot from what they are doing well and what they are not doing well. Make sure you are competing on the same level and then add something.
I recently had a client who was in a vacation resort area. I first did a search on keywords that I would use. Everyone was in the market with keywords like resort, vacation, lodging, hotel, motel. I included these keywords on my list, so I was competitive in the marketplace with everyone. Then, I thought of synonyms for those keywords and did a search. I also added the location to each keyword. I found very little traffic for condos and vacation rentals. I had an idea. I decided to search a popular lake nearby. Hardly, anyone was using the keywords I had listed with this lake name. I found a niche.
For years, this client was the only property listed on the first page. Now, as the market has shifted to include more lake traffic, this client is still listed on the first page and competing with national and international brands in this highly competitive marketplace because they found a niche and stayed there. Many search engines reward that kind of sustainability.
Finding a niche market or a new place to market your product can take a lot of time and searching, but it can also be well worth it!
Don’t be afraid of competition – Embrace it! Your business is worth fighting for!