Competition When Selling Information Products
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No matter what area of information marketing you work in, you’ll find competitors. If you DON’T, I’d be worried. Why? Because chances are there isn’t sufficient interest in your topic to make it worth pursuing.
In my case, competition motivates me. In one of my niches, I worked super hard to displace someone as #1 in the niche because I was angry. Angry that this person ranked higher than me. As I sit here watching the US Open Tennis on TV, I realize that competition is a powerful motivator. Not just in sports, but in business and life as well.
I don’t really care what motivates you to do what’s necessary to succeed, but for me, competition is a HUGE motivator for me.
How do YOU respond to competition? In most markets there will be plenty of competitors.
First, you have to take a look at their sites and see whom they are trying to target. Make sure that you look at each of your competitors that have BETTER SEO RANKINGS than you on Google. Study their sites. Assess their strengths and weaknesses.
From there, I want you to do something I call BUSINESS CAULKING. This is where you look for the gaps in the market and fill them in. You need to look for areas where what you offer is DIFFERENT and BETTER than your competition.
Make sure you point these differences out to people who visit your site. Don’t fool yourself into thinking that potential customers won’t be doing comparison shopping. They WILL be!
One of the ways to do this best is with a chart. Some kind of graphic that shows the differences between your site/products and those of your competitors. The more expensive the product or service you sell, the MORE prospects will compare.
In my different niches, I check my Google rankings vs. my competition on a weekly basis. I want to know if what I’m doing is moving me up the ladder. If I slip in the rankings, I immediately reassess what I’m doing and make changes to stop the decline.
If you’re looking to WIN in YOUR niche, you need to spend time watching your competition. Do that now!