I used to hate competitors.
Then I realized - competitors have primed future customers.
Here are 3 ways the competition helps your business:
Then I realized - competitors have primed future customers.
Here are 3 ways the competition helps your business:
1) Made the Market Aware of its Problem
It costs a lot of money to make people aware of a problem they don't know they have.
Your competition has already established the problem you're solving in the public consciousness.
It costs a lot of money to make people aware of a problem they don't know they have.
Your competition has already established the problem you're solving in the public consciousness.
2) Accustomed the Market to Buy
Competitors have proven to consumers that this is a problem worth paying to solve.
If you offer a better solution, there will be little hesitation that it's worth their money.
Competitors have proven to consumers that this is a problem worth paying to solve.
If you offer a better solution, there will be little hesitation that it's worth their money.
3) Established Well-Worn Marketing Channels
Competitors have conditioned people to buy in a certain place, time or way.
A better product or ad will find a receptive audience.
Competitors have conditioned people to buy in a certain place, time or way.
A better product or ad will find a receptive audience.
These aren't the only ways that competition can help you.
But they all involve the "mere-exposure effect", which states that people tend to develop a preference for things that become familiar to them.
But they all involve the "mere-exposure effect", which states that people tend to develop a preference for things that become familiar to them.
The truth is, I still dislike competitors.
But at least I see how their advertising budget works to my advantage.
But at least I see how their advertising budget works to my advantage.
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