The Competition Problem

Competition is a commonly discussed topic in the world of business. There are multiple different ways competition can take away from your marketing strategy. Still, there are three main issues:

  1. Higher Costs
    • Typically when going head-to-head with a competitor, costs are higher in terms of time and money. Examples include attempting to outrank a competitor in a search engine, bidding in advertising, or even reinvesting in a new marketing strategy to remain relevant.
  2. Lower Visibility
    • Many customers do not take the time to look thoroughly at two similar products. More often than not, a customer will look at one product and use its information to make their buying decision.
  3. User Confusion
    • Consumers may feel confused if they are exposed to your product and a competitor’s product at the same time. They will remember only one product or associate one brand name with the competing product.



Get to Know Your Competitors

Once you can understand your competitors, you’ll be able to handle them better. By analyzing their strengths and weaknesses, you can adjust and plan marketing strategies accordingly.

Differentiate Yourself

Making your business different from your competition and pursuing different strategies is guaranteed to set yourself apart. Some of the most common strategies to differentiate yourself include:

  1. Geographic Location
  2. Buyer Intent
  3. Brand, Image, and Voice
  4. Quality and Support

Outspend Where Appropriate

Several digital marketing strategies are relatively inexpensive. However, there are instances where outspending your competition is the best strategy.

Use the Competition to Your Advantage

Although competitors present competition, there are ways to use them to your advantage.

  • Content Collaborations
  • Partnerships
  • Branded Keyword Optimization

Focus on Retention

Customer retention is far less expensive and more effective than spending time and energy on customer acquisition. Maximizing the value of each new customer you bring in is essential. Some ways to do this include:

  • Offering support
  • Strengthen client relationships
  • Customer loyalty incentives

Read more about Solving Competition Problems at readwrite.com

Book a Consultation
Tell us about yourself
Send Us A Message
Tom Foerstel : Founder & President

Tom Foerstel

Founder & President

Growing up in the San Francisco Bay Area in the 60’s, Tom developed a strong desire to create positive change for people and planet.

He went on to pursue his passion for art and design at Art Center College of Design in Pasadena, California, and worked for design firms in Southern California before moving to Boise, Idaho in the early 80’s. Foerstel Design opened its doors in 1985. Since its inception, the firm has cultivated a bold, happy, forward-looking team focussed on creating distinct and effective work on behalf of their clients.

An integral part of Tom’s philosophy is giving back to the community in which he lives — a company cornerstone that drives Foerstel’s long history of providing pro-bono services to local non-profit humanitarian and arts programs.

One of Tom’s proudest personal achievements is his ability to say Supercalifragilisticexpyalidocious backwards.