Who your greatest competitors are may shock you!
Before we begin, take one minute and write down all of your competitors that comes to mind.
Do you now have a list of companies that offer similar products and services? Do you have about 10 of your local obvious competitors?
My guess is that you’ve missed your largest competition and who they are may shock you.
Most business owners only consider the obvious direct competitors, missing their potentially largest competitors.
Ask any salon owner who their competitors are. They quickly rattled off 25 other salons. While the other salons are competition, they are not their greatest competitors.
Ask any attorney. I can assure you they will provide a list of other attorneys. Again, not their greatest competition.
What most businesses overlook when it comes to their competition is the educated consumer.
A salon owner would never consider Walmart to be their competitor. The salon owner would argue that Walmart is not their competitor. Why? Because the salon provides at atmosphere, quality products, services, and a level of expertise that the box color on the shelf of Walmart could never provide.
They may be right. However, the consumer, who wants to change the color of their hair has access to thousands of options within seconds. One search using the keywords hair color and 10 different box color options appear on the first page. Try it for yourself. Unless there’s a salon in your area who understands the power of and how to optimizing their site based on consumer searches, you’ll find box color options for pages.
Attorneys seldom, if ever, consider their greatest competition. Again, it’s the consumer. Every legal document known to man is available, accessible, and downloadable in seconds, usually at no cost. Even the large box stores carry a vast variety of legal documents. Let’s not forget the Legal Zoom and Legal Shield. For about $19.99 a month the consumer has legal access at their fingertips.
Sure, there is a vast difference in the value of the advice, guidance, direction, and experience of an attorney vs the downloadable document. Salons provide an experience that box colors can’t.
However, unless you educate your consumer, they will continue to be your greatest competitor!