Competition.
We all have different perspectives when it comes to that word. To some, “The Competition” is an adversary; someone who needs to be defeated. It’s a win-lose situation where one person must fail in order for another to succeed.
In this post, I’d like to talk about the competition you face online.
Specifically I’ll show why you should form alliances with your competition and how it might be the smartest business move you can make.
How “The Competition” Taught Me an Important Lesson
Last year I was struggling with my article marketing efforts. My content and click-thru rates were fine. The problem was my articles weren’t getting that many views.
During this time, I came across another article marketer in my niche (i.e. The Competition). Most of his articles had over a 1,000 views. Plus he was cranking out 3 to 5 of them…every day. So I knew he was getting great results!
In this situation, most people would try to beat out this competition. Not me. I sent this marketer an email that complimented him on his success and asked for advice with my own articles. I offered to pay for his time. In addition, I talked about the possibility of working together on a future project.
To be honest, this email was a shot in the dark. I was a random stranger; who was asking for a “trade secret.” That’s why I was surprised when I received his response. Not only did my competition provide a detailed “article action plan;” he did it without asking anything in return.
This single email has led to a successful partnership with someone I once considered an adversary.
We’ve promoted each other’s information product. We’ve swapped ads for each other’s email lists. And we’ve even bounced ideas off one another for future business. In short, he and I have formed a mini-alliance in the same niche.
What’s funny is I’ve formed similar relationships with at least a dozen people in the marketplace. Now, I have friends who are willing to help out whenever I ask. This kind of support is priceless!
A New Way of Looking at “The Competition”
I’m a realist. I know it’s important to have a competitive advantage in any niche. Sometimes you can’t be lovey-dovey with every marketer. Often you need to make business decisions where you have to “beat” the competition.
With that said; I want you to think carefully about your online business. Is there a way to work your competitors? I bet there’s a potential to form a number of strategic alliances. Perhaps you’ll come across a win-win situation where everyone can grow their business by working together.
For instance, here are a number of things that can happen when you team up with The Competition.
You could:
- Gain knowledge of a specific Internet marketing tactic
- Network with people who share a passion for the same market
- Meet potential affiliates who promote your products
- Collaborate on an a massive article that drives traffic to both sites
- Get people to share your content on social media sites
- Find a co-author for a future information product
- Help one another with ideas or projects
This is just the tip of the iceberg when it comes to allying with your competition. It’s a strategy that pays huge dividends if you’re willing to put forth the effort.
It’s Time to Rethink your “Competition Philosophy”
You’ll always have competition. It won’t go away – Even if you do your best to “crush” everyone in your market.
That’s why I suggest a simple strategy. Look for ways to work with your competition. Contact people in your niche. Extend the hand of friendship and offer to help them out. Or try asking for advice.
You’d be surprised at the openness of people. Most people are willing to form strategic alliances. All you have to do is ask.
Stop looking at people as the competition. Instead send a simple email introduction that compliments them on their success. Who knows? This introduction might lead to a lifelong alliance.
What about you – what’s your take on the competition?
Steve Scott runs a site that helps people achieve the Internet Lifestyle. Specifically, he’s giving away a copy of his report; How to Create a Profit-Pulling eBook Empire in 2011. This is being offered with no opt-in or email required. So go grab your copy right now.
{ 12 comments… read them below or add one }
Wow! What a great post! And this is what we exactly call “healthy competition”. It’s true, I genuinely appreciate those people that are always willing to lend some help whenever someone asked them to. I’m glad that there are still people who do this (even if they are in the field of business).
That’s why I commend you guys (here in firepolemarketing) for sharing what you’ve got to offer to people in need for knowledge and awareness in terms of Internet Marketing.
It’s also sad that although this idea is more helpful, people still try to follow the crab mentality intentionally of unintentionally. So I guess that’s one thing we also have to be aware of.
Nevertheless, this post has said it all. Competition shouldn’t be bad. And people can absolutely be successful amidst competition. Indeed it can jump start ones business.
Cheers!
Floricel,
Exactly! There is nothing wrong with trying to be competitive and do better. Competition is a good thing. But there is also a lot of room to be helpful, specifically when you get in the realm of you-scratch my back I scratch yours. Thanks for a wonderful comment, have a great day!
-Steve
Thank you very much, Floricel!
Yeah, the crab mentality is common, but unfortunate – I really believe that the best way for us to grow is all together.
Interesting points, Steve. Keeping “trade secrets” has been a priority in nearly every industry I’ve ever dabbled in. However, if you approach these partnerships with competition with the thought that there are potential clients out there that have not selected *any* brand yet OR don’t even know your industry/service/products exist and can solve their problems, the two-heads-are-better-than-one can really boost your business – even if it also boosts your competition’s.
And when you think about it, if you’re doing better, why does it have to be at the detriment of another company? You’re also gaining credibility within the industry by forming selective alliances to show that you’re more than a salesperson; you’re a problem-solver who’s willing to even let you check out the competition in order to find the best match.
Great insights!
Thanks Jana,
There certainly is a time and a place for a “must win” view. But often there is far more to be gained by being open and helpful. This really seems specifocally true with internet business.
That’s the key difference, Jana – when you’re online (unless you’re Google), you don’t have to worry about the competition, because there are just so many customers out there…
Hi Danny, Steve,
Great post, thanks! I understand the value of collaboration in blogging, but how can someone stay on genuinely trusting and friendly terms with the competition if collaboration isn’t necessarily the best thing for your business?
Specifically, I’m about to launch an online business that will only be available to people in the country where I live.
I know someone else who has the same business model in her country. I know she has aspirations to expand into my market *eventually*, but expansion is not a priority for her because she is focussing on other (unrelated) projects.
We explored the possibility of a joint venture, but at the end of the day there was not a compelling incentive for me to enter into a partnership, and I couldn’t talk myself into going into business with someone else (even though I like her).
(Please note that I did not copy her idea – we both had the same idea separately, which was inspired by a website from a third country).
I can see how she could view my actions as a betrayal of trust, since we were talking about collaboration and I decided to pursue my business alone. I don’t want her to resent me; I want to maintain a friendly business relationship with her for two reasons:
1. I like her personally;
2. We are two of only three players I know of in this niche (in the whole world), so it would be advantageous for both of us to be on good terms and learn from each other.
How can I launch alone without seeming like I have betrayed or rejected her, and to pave the way for a friendly and trusting business relationship? Any thoughts would help!
Cheers, heather
PS. I know that was really specific – please don’t feel obligated to answer the details. Sorry about that, I don’t want to take up too much of your time. Thanks!
On the contrary, Heather, thank you for sharing with us! We’re always happy to help.
On the contrary, Heather, thank you for sharing with us! We’re always happy to help.
Hi Heather, you’ve asked a great question – I’ll do my best to answer, and hopefully Steve will be able to weigh in as well.
I think that in your case, the key is transparency. Did you have a conversation with your colleague explaining how you feel, and what you plan to do?
It’s not the easiest thing to hear, but I think that is the most up-front that you can do. Once that is established, and especially if it can be done without damaging the relationship, there should definitely be room for you to both support each other, for example by sharing lessons learned, as you will be facing very similar challenges.
I’d be happy to advise you about this further, but it would be easier if we chat on the phone – if you’re interested, contact me at danny (at) firepolemarketing (dot) com.
Hi Heather, you’ve asked a great question – I’ll do my best to answer, and hopefully Steve will be able to weigh in as well.
I think that in your case, the key is transparency. Did you have a conversation with your colleague explaining how you feel, and what you plan to do?
It’s not the easiest thing to hear, but I think that is the most up-front that you can do. Once that is established, and especially if it can be done without damaging the relationship, there should definitely be room for you to both support each other, for example by sharing lessons learned, as you will be facing very similar challenges.
I’d be happy to advise you about this further, but it would be easier if we chat on the phone – if you’re interested, contact me at danny (at) firepolemarketing (dot) com.