Entrepreneurs can Tame the Threats of Competition

Competition in business is something that keep the business world going. This is what has always made entrepreneurs strive to be better. Entrepreneurs understand that a healthy competition is always something that benefits not only their businesses individually but also the business world at large. The digitalisation of this competition has made thriving in the business world a really difficult task. The fact that there are many ways that you as an entrepreneur are unaware of does not make the competition any easier.
This is the age of digital marketing and your company’s competition has the same digital channels to reach out to their target audience. Entrepreneurs must know that once they make a mark in the business world the others in the competition lose no time to come up with a trail of marketing strategies that seem to look interestingly similar to all your previous success moves. There has also been competitors who had tried to completely harm a competitor’s campaigns and properties.

Entrepreneurs who keep themselves updated on the strategies that their competition uses to keep ahead can easily come up with solutions that would help them save their game. Are you aware of what your competition might be using to stay ahead of you?

Here is a look at the popular strategies that competitions resort to reign the business game and their solutions.

1. Content:
Content can be said to be the one factor without which no company can do. Be it marketing, customer relation, or simply company blogs, every company rely heavily on content. The power of the word has the capacity to make a great relation or break a business. A subtle but very powerful presence content is one factor that your competition might be looking at right now.
Given that content is so powerful there has been many cases where a company might have seen updates of blogs in a different company that seem to speak exactly what you had a week before. There has also been cases where a company has also copied weekly video series that might seem to be an exact replica of what you had released. Content is easy to copy as one can easily find out which pieces of content are popular, etc.
Entrepreneurs who want to keep their content safe must focus on creating high quality content with a branded twist that cannot be replicated by other companies.

2. Click Farms:
The competition that copies your content might seem very innocent when it comes to the competitors that work to actively to diminish the result of one’s marketing campaign. These companies focus on one’s competitors search and budget.
Many companies hire a click farm to tap into a company’s ad to deplete one’s budget. These click farms come with sites that charge dollars for thousands of clicks.
Entrepreneurs can protect their brand and budget with the help of using fraud protection software. These fraud protection software can help one to discourage disingenuous clicks on the ads before the media budget of the company starts to suffer. This is a kind of Artificial Intelligence solution that can integrate itself with the Google Adwords and also Bing Ads accounts to find the offending IP addresses and stop their progress.

3. Earned Media:
Earned Media is something that can be easily followed. Every company has a clear idea of what its competitors had in earned media. The fact that maximum discoverability is the idea that pushes earned media is what makes the whole connection visible.
Competitors who keenly follow your earned media from podcasts to working with influencers have the tendency to follow your coverage and also pitch the same outlets for their company. The business world is full of online monitoring tools that can search through a lot of channels at the same time and can get information about your earned media.
Entrepreneurs who are looking at protecting their earned media can infiltrate their earned media outlets with details of core PR value. It is important that you follow on a story that resonates with your PR value and then attract media contacts that your competition would find it difficult to reach.

Apart from the above there are many ways that companies try to stay ahead in the competition. Some hire hackers while others follow the trail of another’s backlinks; then there are those that stalk the display ads of a company. Entrepreneurs must use protection to make their connection as secure as to ward off cyber criminals. Protection and prevention tools along with a firewall can help one to keep away these petty cybercriminals. To keep away other from following the trail of your backlinks you can double down on your link building efforts and come up with more strategic links that the others cannot keep up with following it.
Lastly one can keep one’s competition away from stalking one’s display ads by simply by going for ad networks that are in favour of a direct relationship. Your company has a lot to gain by partnering with ad networks directly. This is because it gives better value for all your expenses by having the opportunity to work directly with webmasters instead of resellers. Your competition would also have a hard time trying to retrace all the steps quickly if you follow this relation.

The business world is full of people trying to get ahead and make it big. Entrepreneurs who are eager to make it big and thrive in the business world must make sure that they stay two steps ahead of their competition. It is difficult to keep track of all your competitors and then find solution for each. But it is easy to keep a watch on the latest strategy that competitions in the business world use to keep themselves ahead. This can help you to find the exact solution that your company might need in the changing business world. Entrepreneurs who match their business sense with wisdom are sure to keep themselves ahead of the competition.

About the author

SPI Group

An integrated platform created to serve entrepreneurs and service providers. SPI engages with over 100,000 Entrepreneurs & Senior decision makers through a unique combination of cutting edge business magazines, high profile B2B summits and conferences, strategic alliances with Govt, business associations and government bodies. SPI also leverages the power of digital marketing and social media.

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