In episode #581, Eric and Neil explain how you can beat your established, monied competition. Tune in to hear steps you can take to beat your competitors at their own game!
TIME-STAMPED SHOW NOTES:
- [00:27] Today’s Topic: How You Can Beat Your Competition When They Have More Money and Have Been in Business Longer
- [00:36] Neil gives away stuff for a cheaper price.
- [00:49] You can always undercut your competitors by offering the same thing for less.
- [01:16] Use the newest and greatest tech, because the competitors are probably using old, archaic technology.
- [01:26] Neil is going to do this to compete with Moz. Moz charges $99/month for their SEO tool, so he’s going to offer his SEO tool for FREE.
- [01:44] He can do what their doing for under $10,000.
- [02:01] These other companies have boards, executive teams, etc. While Neil can make decisions and act more quickly, because he doesn’t have to have all these groups weigh in.
- [02:16] Go where the competitors aren’t going.
- [02:25] These other agencies aren’t doing content marketing, podcasts, speaking engagements, or releasing tools. Zig where they zag.
- [03:00] Dropbox wasn’t the first cloud in the game, but they offered their services for free!
- [03:10] Take your existing users and get them to help promote you for a reward.
- [03:45] Eric recommends reading Zero to One, which will help you figure out other avenues of marketing and competition.
- [04:05] When you want to beat your competition, if you are starting out, it’s a good idea to niche down.
- [04:35] When you’re competing with bigger companies, look at what they are not focusing on.
- [04:52] Translate your services into other languages and markets, which will help you remain competitive and may be a smaller pool.
- [05:30] Neil does this and finds there is less competition abroad and is winning in those markets.
- [05:43] That’s all for today!
- [05:48] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!
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