A friend of mine recently interviewed with one of my competitors and kindly reported back to me tons of information about them. My favorite part was their arrogance. They flat out said that they don’t watch their competitors and don’t even consider us a competitor. I was so glad to hear that! I love the old way of doing business!!
Meanwhile, this company is currently on the auction block because of their loss of market share. They are seeing stagnant growth at best while I’ve seen double digit increases in traffic month over month! My growth is exponential while theirs is in a flatline.
Here’s the lesson: Never underestimate your competition. The only way you will keep growing and maintain your position is to keep your eyes laser focused on what trends are emerging in the industry and how others are exploiting them. Do a SWOT analysis and make competitive analysis a part of your marketing plan all the time.
The interactive media industry is changing every day. To sit in a bloated office and laugh off the competition is the best news I’ve heard all year. So, nobody tell them that while I may be in their rearview mirror right now…I’m doing about 180 mph and will be letting them eat my dust soon!
