Growth5 Blog

Wednesday, February 10, 2010

Competition is Everywhere

I enjoyed this post by Seth Godin about the ubiquitousness of competition. He points out that you need to stand out against your multitude of competitors if you hope to succeed... agreed.

We wrote recently about focusing your business strategy and supporting marketing on solving a specific problem really well. Keep it simple and clearly understandable, thus differentiating yourself from the ever-present competition.

Where I thought Seth was going with his post was the failure of some firms to recognize that a good portion of their competition comes from places they have never even considered.

If your business is in the space of attracting eyeballs to convert into sales, you probably already know that you are competing against the the rest of the web to get the attention of the eyeballs you are targeting.

If your business is manufacturing products in Atlanta you might not know that a small plant in North Dakota with a popular industry blog, comprehensive online outreach and excellent conversion metrics is chipping away at current and potential customers of yours. Pretty soon they are going to be a large competitor that blows by you in annual sales. You're going to say, "how did that little company in the middle of nowhere get so big?"

Companies no longer wonder if they should have a web site or not, they know they need one. However, for whatever reasons, most companies are not concerned with driving traffic to their sites.

The clients we serve have realized – "if we build it, they WON'T come." You need to promote your site, drive traffic to it and convert the prospects that show up. If you're not - remember - you absolutely have hundreds of competitors you have never even heard of that are. And they're going to take business away from you, they probably already have.

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