Competitive Marketing Strategy: Dedication beats Conversation

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Understanding Competitive Marketing Strategy

A Competitive Marketing Strategy requires much more than determining how your business will compete with competitors in your marketplace.  You must gain an understanding of how your competition will react to you and other competitors.  What are there strategies, advantages, connections, etc.  Much of this understanding can be performed with a SWOT Analysis.  A SWOT Analysis looks to determine your Strengths, Weaknesses, Opportunities, and Threats.  When done thoroughly, much of the information needed to create a strong competitive marketing strategy will be made readily available.

Competing In Different Markets

Obviously like any other type of conflict, there are few to no actual common grounds.  There are areas where you are much stronger than your competition and could win in any contest.  There are however, circumstances where your weaknesses would cause you to lose to the competition just as often.  Having a few strengths alone will not guarantee success in any marketplace but knowing how to use your strengths to mask a weakness can be super effective.  For example, in our industry, we are typically able to create better designed and functioning websites than much of our competition for lower prices and in less time which is a major strength.  However, our organic ranking for web design terms is quite low because we are primarily focused on marketing and business consulting, not web design and graphic design.  Many lesser qualified companies have fully established their online presence for web design.  Instead of fighting in this overcrowded space, we instead have lowered our prices on web design and let the work speak for itself.  We receive enough referrals to continuously receive web design projects without directly competing in that marketing publicly.  However, we do focus on many marketing related terms which we do rank well for so we are able to continue to mold our brand in the direction chosen without losing too much ground to the competition.  By lowering prices we actually apply additional pressure to the competition to meet our seemingly impossible standards while directing the gross of our focus towards larger contest areas we are more determined to compete in. 

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