Will attacking my competitors help my business?

Will attacking my competitors help my business?

The other day I read an article about “Should You Attack Your Competitors?” by Russell Brunson, Owner at ClickFunnels. He made a very compelling point about how Pepsi always attacks Coke. On the other hand, Coke has never attempted to attack Pepsi and yet their sales continue to grow. At one point Mac attacked PC, but stopped after they surpassed them.

There have been many books that tell us that in order to products the best outcome, or to have an advantage over our competitor, we should attack their weaknesses. This can be true at the very beginning but is it effective in the long term? I would argue and say “NO.” When we attack our competitor weakness, it can make us look desperate or negative. This is no different than one individual gossiping about their co-worker. The results are always negative.

We should have learned from the two giant companies, Pepsi and Coke. Pepsi, spend marketing money attacking Coke on their famous “Pepsi Challenge.” Where they have customers, blind folded and take both Pepsi and Coke. The marketing was to emphasize that the choice of a new generation would take Pepsi over Coke, yet Pepsi is still second place to Coke.

What did Coke do to still take first place? The answer is “Branding.” Pepsi, spend money on putting Coke down and Coke spend money on branding their name and talking to the customer.

Competing with your competitor can be tough. The best way to go about it is do a SWOT analysis of your business and point out your strengths. Look closely why customers are buying from your competitor, find their strengths and do it better. From my personal experience, there are two reasons why customers are buying from one company versus the other. For example, 1) Customer Service and 2) Branding – that speaks to your customer.

 

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Author: Hev Phoung