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    How To Handle Competitors Who Try To Bring You Down

    Competition is inevitable, no matter what business you are in. There are probably 10, 20 or 100 other businesses out there that offer the same things that you do.

    Some people think that competition is a bad thing. However, it can be good for your business too. Competitors keep you on your toes, motivate you to do better, and perhaps even inspire you to be creative and innovative.

    But what happens when the competition gets intense?

    You may face times when competing businesses decide to target you in ways that feel distinctly personal. While a bit of friendly rivalry is to be expected, someone badmouthing you or trying to steal your customers can be upsetting. Not to mention the fact it could put your business in trouble.

    But don’t panic!

    As Tay Tay says, the haters gonna hate! You just need to have a strategy to Shake It Off in style.

    Here, we talk about the various ways that you can deal with competitors who are trying to bring you down, and the best ways to fight back.

     

    How To Handle Competitors Who Try To Bring You Down

     

    Choose Your Response Quickly

    With social media dominating the world of today’s consumers, bad news can travel astonishingly fast. And unfortunately, many people love a good drama, so negative stories tend to go viral more rapidly than positive ones.

    If you find out that a competitor is targeting you online, you need to decide on your tactics. Even if you do nothing and see how it plays out, that is still a decision and should be a conscious one.

    However, if your nemesis is targeting you by undercutting your pricing, copying your marketing, or directly poaching clients, make sure you get on top of it before it becomes a real issue.

    Stay Professional

    No matter how personal it feels, keep your responses professional. Remember that anything you say is a reflection on your business. If a competitor is really playing dirty, they may well end up digging their own grave and ruining their reputation.

    Now, we are not saying that you should turn the other cheek and don’t fight back. Simply make sure that any response you give is crafted while wearing your “business” hat, not your “personal” hat. A great, measured response will earn you respect and your customers will appreciate your professional attitude.

     

    Focus On Being The Best YOU Can Be

    As cheesy as it sounds, this is how you should always run your business. Even if you sell identical products to someone else, you have your own style, voice, branding, and personality to leverage.

    Focus on being authentic, giving the best service, and building strong relationships with your customers as only you can. There is only one you, and no matter how hard they try, your competitors can’t steal that. This attitude alone will set you apart.

     

    Provide More Value

    Ask yourself if you are doing everything possible to understand and provide what your customers (and potential customers) want. Building brand loyalty can go a long way towards holding off the competition. Make your customers feel acknowledged and appreciated by providing more value.

    Think thank you cards, personalised rewards and discounts, unique packaging, or even bonus gifts such as chocolates.

     

    Get Your Customers To Be Your Advocates

    Consumers tend to listen to other consumers rather than blindly believing what companies tell them. If someone is badmouthing your business, get your happy customers to be your voice. Ask for testimonials and reviews, and share them on social media and your website.

    Some passionate customers may even step in to publicly defend you against any badmouthing, keeping your name clear while dispelling negative publicity.

     

    Be The Bigger Person

    You may want to consider engaging with your competitor. Remember, they are just trying to succeed themselves and may not even be aware of what they are doing. If you think this is the case, reach out and suggest a cup of coffee and wave the white flag. You may even find ways in which you can support each other and collaborate.

    As tempting as it can be, don’t stoop to the level of playing dirty in retaliation. If things feel like they are getting too nasty, you could look at hiring a lawyer to explore options, but this should be a last resort.

    The best revenge against a dirty competitor is success, so use their attacks as motivation to outdo yourself and leave them in the dust.

     

    For more helpful business advice and support, come and join us in Network NZ - the premier online networking space for New Zealand businesses. We have plenty of options from a free community group, right through to high level paid memberships. We’d love to see you there!

     

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