by Michele DeKinder-Smith, Founder
When it comes to the competition, how does your business measure up? Do you know what makes your business different and unique? Do you know what your strengths and weaknesses are, relative to that of your competitors?
And—most importantly—do you know how your clients perceive your business, in relation to the competition?
If not, you may be operating under a major liability, for a number of reasons. Number one, if you don’t know what your unique strengths are you’re not giving your market any compelling reason to choose you over the competition. Number two, if you don’t know what your competitors’ weaknesses are you may not be able to take advantage of an important available and/or underserved niche within your market. Number three, if you’re not aware of your own weaknesses you may be driving customers away from your door.
Brand marketing is all about creating a unique, memorable identity for your business that emphasizes not just your strengths, but the strengths that make you different and unique within your market. You may think you already know what your strengths are, but in order to really get a handle on where you want to position your business, you’re going to need to find out how the major brands within your market are positioned, and how to position your brand in relation to them.
So how exactly do you check out the competition, directly—short of posing as an actual customer?