What does being the go-to person in your niche really mean?
Does it mean being an expert?
Not necessarily – many of the top resource websites on the web were created with nothing more than an idea.
Does it mean having a big following?
It can, but not always -
I read something interesting the other day and thought it fit in very well with today’s message.
In the book “Positioning” (http://linkforyou.info/positioning) by Al Ries and Jack Trout, they use the reference “Cherchez le creneau,” which is French for “look for the hole.”
And then they go on to make a complete statement, which is “Cherchez le creneau and fill it.”
Look for the hole in your market and be the one to fill it.
Let’s talk about competition for a moment…
The nature of competition is …
…well, it’s a fierce beast -
And you have 2 choices, you can fight with it or you can look for the hole.
If you spend any length of time on marketing forums or in social groups, you’ll hear references to competition and the “competitive niches.” “Competition is scary.” “It’s tough to compete with more established coaches, consultants, trainers, (your competitive counterparts).”
Yes, competing with the big businesses would be scary.
But you aren’t going to compete with them…
Here’s a piece of advice given to me by one of my earliest mentors, that has served me very well since coming online in 2009…
…and that is, “there will always be competition in the marketplace. Heck, if there’s not, then you are in the wrong niche. There SHOULD be competition. But the competition doesn’t matter to the success of YOUR business.
You are unique.
You sell a unique service.
And your business offers something unique.
And all of the above is communicated by your USP.”
Your USP makes competition completely irrelevant. In other words, whatever the competition does just doesn’t matter.
And when you craft a USP using the “Cherchez le creneau” method, then everything else becomes so much easier.
Creating content becomes easier, tweaking your website becomes easier and generating prospects becomes easier.
USP’s are unique, they are unique to you and your business and that simple statement or phrase gives you an advantage over all others
in your niche.
So, don’t try to fight with competition, rise above it and DOMINATE your field.
KEY TAKEAWAYS
1) In a competitive marketplace, there are only 2 options: fight the competition or look for the hole in it.
Fighting with the big names is going to be a waste of energy and resources. So instead, look for the hole in you niche.
Look for a spot that is incomplete or hasn’t been talked about every which way.
2) A well crafted USP can take your business from a small little start-up to a leader in your field – but it starts with how clearly defined
your USP is.
Raving Fans List Building Formula makes crafting a USP as easy as, well, following a formula.
It really can’t get any better than that…
http://ravingfanslistbuilding.com
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Christine,
I have been in the background a bit, reading your emails and your posts via your RSS feed. Your title was compelling and intriguing enough that I clicked through and well here we are.
Competition is very good as it brings the best out of both parties ( if they are determined to win) and the customer is the beneficiary through better product and services.
The trilogy of Positioning, Differentiation (USP) and Branding are the foundations of all businesses.
This is classic marketing stuff, or marketing 101.
Many SME’s just miss it and are suffering.
Expanding on the USP concept – if you don’t tell your potential customer why your widget is unique he will default to price as the difference. And the game is lost when that happens. “I offer the best customer service this side of ___”, ” we make your business better because___”
The 22 immutable laws of marketing is also a fantastic read and they offer valuable ($) suggestions especially for new entrants into a market.
Thanks for allow me to add to your post.
Urban Renstrom recently posted..7 Habits of Highly Successful Social Business
Hi Urban,
Thank you for sharing your thoughts – very glad you did!
And these are some great points – competition is very much a good thing. And as you mentioned, it brings out the best in both camps.
There is a story I read somewhere about donuts – and the little shop that was making them used the tired, old “we make the best donuts in town” slogan.
A complete revitalization changed it to “We make our mouth-watering donuts by hand every morning so they are ready for you when you walk in the door”. Just typing it I can already smell them…
And I’m sure everyone else who read it could too.
So glad you shared your expertise
And thanks for the recommendation on the book.
~Christine
Hey Christine,
Well said! In fact, I had just this thought after reading a comment Adrienne Smith left on my blog. In that comment, she said she can succeed in any niche, no matter the level of competition.
Funny how we here something and then we hear it again. Its like the world insisting we learn…
Yeremi Akpan recently posted..If You Had to Start Over Online, What Would You Do Differently?
Hi Yeremi,
I need to do some visiting of my own – get so wrapped up in my little corner of the web here though
It’s so true though – once you have a handle on positioning, anything is possible.
Thanks for stopping.
~Christine
Figured I’d throw in another option… ready?? We can cooperate with the competition! Not always, of course, and that’s where your two important points come in. But sometimes I’ve found that working with people who are technically my competitors (other designers, developers, marketers) helps me expand my viewpoint and experience. Sometimes I hire “the competition” to work on projects with me, not because I can’t do it myself but because I like to see how other people approach things. And sometimes just brainstorming with like-minded people helps. There are more clients out there than any of us can handle on our own, and we don’t even want to work with some of them. Sometimes working with the competition helps filter that. Of course, you have to find trustworthy, ethical people that you know aren’t going to steal your business!
Carol Lynn recently posted..Good Marketing, Bad Marketing: On Being Human And A Business In The Wake Of Hurricane Sandy
Hi Carol Lynn,
As always, some great feedback
Yes, great point – collaborating with them to see and get a real hands-on view of how they do things.
Ultimately, some “competitors” can turn out to be some great partners.
Appreciate you stopping by!
Hope you had a great weekend!
~Christine