Today I want to talk to you about your competitors. Specifically I want to talk about how they impact your business or maybe how YOU impact theirs.
Here’s how I got to this topic. One of my most successful mentorship clients is really kicking butt in his community. The thing is, he has a lot of competitors. Just to give you an idea, he is one of four personal training studios in a five mile radius.
Then there are two mega clubs within three miles of him, and to top it off there are several independent trainers who offer in home personal training. And all this is in a community under 80,000 residents.
Until about a year or so ago his was just another one of the local fitness facilities. Most of the trainers and studios in the area ran the same type of ads, making the same type of offers, with nothing spectacular about any of them.
Then he purchased my PT Business Course and soon after got in on my 12 month mentorship program, and in only a few months he started to stand out in the community. He added thousands to his monthly income, and really positioned himself as the local fitness expert. (I’m not saying this to brag about my PT Business Course – I’m just stating the facts. But it is a darn good program!)
Not bad, right?
Soon his competitors started bashing him in their ads. They actually ran ads that took subtle jabs at his marketing strategy. For me it was pretty funny. But for my mentorship client it was a bit of a pain in the butt – until I explained to him why this is good, real good.
See, his competitors had caught the “vapors.” So rather than trying to out market him or find a newer more clever USP (Unique Selling Proposition) they chose to sling mud. Funny thing is that this type of marketing is only more destructive for them and further positions my client as the CREDIBLE local fitness expert.
What this means to you is that it does not matter how many competitors you have, or even if your competitor has more credibility or is better recognized. The real secret is to find or create your own USP and then let the community know about it over and over again.
For my mentorship client, his USP was a strong money back guarantee and 30 minute sessions that produced 60 minute session like results. And if the competitors ever catch on and start offing the same he’ll change his USP and reposition himself. The key is to be the Coca Cola of the industry.
Ever notice how Coke is always recreating and repackaging its products? Or how about how there is Enterprise rent-a-car and then all the rest? Then there is McDonalds and all the other fast food joints.
You get the picture.
Think of it as a horse race-the lead horse earns multiples of what his competitors do. And man does it feels good to be the lead horse!