You will never run a business where you won’t have competition. Competition is just a part of the business world that will never disappear.
While this might be advantageous for customers who are looking for and choosing a company that treats them better or is more affordable, this is quite a tedious matter that will never go away for entrepreneurs and business owners. You must be ruthless and extremely driven to succeed in a world where competition is its foundation.
Overtime, countless studies have shown that most businesses are likely to fail within their first 18 months. A Major contributing factor for this is because of the competition they face in the business world.
For those who survive, a harsh rivalry exists, day in and day out.
This is why it becomes extremely important to keep track of your competitors and frequently strive to be better.
Lets now discuss the 3 most common reasons why your competition may be doing better than you.
1. Social Media Presence and Reputation
Social media is one of the most important aspects of a business. Your social media followers and their opinion of you are important indicators of one’s presence and reputation in the competitive social media world.
The most common social media profiles that businesses leverage are Facebook, Instagram, Twitter, LinkedIn, TIkTok, Snapchat, and Youtube to promote their products and services. Having more social proof and a strong presence on these social media platforms can help you outdo your competitors.
2. Videos Over Photos
We all know that as a business owner we must do a million different things. Big companies have teams in every department, making it easy to manage. However, small business owners do not get this luxury. Most of the time, they must do everything on their own. So it only makes sense to do what’s easy. This is why if you’re a small business owner, you and your competitors are most likely posting a bunch of photos on your social media and ignoring professional videos. But our tip for you is that if you simply transition from images to videos, you will stand out from all your competitors. It doesn’t have to be difficult to make professional videos, you should work smarter, not harder. Start taking advantage of video editing tools to create professional videos for social media in minutes and start outdoing all of your competitors.
3. Google Ranking
SEO is another powerful method to get leads and turn them into potential customers. However, what if you show up on page 2 of google instead of page 1?
Did you know a lot of people out there think websites that are on page 2 of Google are scams and that websites on page 1 of Google are the only ones that can be trusted? Crazy, I know!
If your competitor ranks higher than you, then they will take all the hungry customers. Chances are that the one appearing above or at least on the first page of google search will steal the show, leaving behind everybody else.
To be in the race of top rankings, you can improve the quality of your content and hire an SEO expert to get the job done for you.
Final Words of Wisdom
While tracking all of your competitors’ actions is a full-time job on its own, it’s even harder tracking where all their customers are coming from is near impossible.
Hence, as you can’t stop new competitors from joining the market, it’s crucial that if you want to stand out and lead the niche as an authority, you must take action and prove that you are the best by ranking as high on Google as possible, by building your social media reputation, and by leveraging professional videos rather than photos! Trust me, stay consistent, and you’ll see how much your customers will love you!
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