If you recently had some competition move into your local area, or know someone who is, then don’t panic.
Now, before you start thinking about plan B, there are some things you need to keep in mind.
Competition isn’t always a bad thing.
In fact there are some things you can learn from having competition in your area.
Here are 10 steps you need to follow if your competition is setting up shop down the street from you.
#1 Get Your Emotions In Check
As mentioned earlier – DO NOT PANIC. Nothing good ever comes from worrying.
When something happens that gets us anxious, nervous or worried, we have a tendency to make decisions based off of these emotions.
Here’s a word of advice – DO NOT.
Take the time to see who is moving in and what they have to offer, and formulate a plan.
Don’t just sell your business because you think it’s for the best.
#2 Get Your Marketing In Check
If you want to ensure that you are staying in the public eye and in front of potential customers, then you need to get your marketing in check.
If you aren’t, then you are really just leaving everything up for grabs for your competition to snatch up. Stay ahead of the game and make sure your marketing materials are on point AND updated.
#3 Keep That Customer List Updated
If you don’t already have a customer list, then you need to start one.
If you already have one, ensure that all of the information is correct and up to date.
You can send out postcards, text messages, emails or even make phone calls to make sure that all of the information is correct.
These are customers that you have worked hard to get, so do your best to keep them.
#4 Check Them Out
You may not be comfortable doing this, but you need to. At the very least check out their website or other marketing materials.
Get on their mailing list to see what they are doing and what they have to offer. If you don’t take a closer look at what they are doing, how will you expect to compete?
This is also a great way to see what you need to be offering as well, to your clients.
Do they have fancy billing and appointment setting systems?
Well then, perhaps it’s time for you to update your salon management software.
#5 Don’t BE Them
It will become painfully obvious if you begin to try and do things like your competition.
Your clients BUY you, not your services.
Here’s the thing, in every given city there are TONS of stylists and barbers, and they mostly charge the same amounts. They probably mostly offer the same level of service.
Why do clients prefer some to others?
Simple – They are not buying the service, they are buying the service provider.
Before you go out and buy the latest spa software or salon software because you think it’s what you need, focus on how you can position yourself better.
#6 Find Their Weaknesses
This goes with #4. See what they are bad at, and exploit that.
In sports you see it all the time.
When an opposing player has a weakness, the other team uses it to their advantage.
What are they weak at?
Could it be that they are new?
Well, then, what you need to do is market towards the fact that you are local and you aren’t going anywhere.
#7 Do What They Don’t
Now, as you look and see what they are doing, you’ll see some services that they don’t offer.
What do you do?
Say for example you want a salon that does men’s haircuts AND you need someone that can do high fades.
The solution here is simple, you’ll just go where they are offering it.
While that may sound easier than it is, it’s really a no‐brainer AND helps you to stay ahead of the competition.
#8 Do It Better
Find something that they are doing and think you can do it better?
Then DO IT!
If they only offer certain services on certain days, then offer it every day that you are open.
See something that you can capitalize on and offer at a better rate or higher quality, then do that!
#9 Get Some Help
If you feel like you have exhausted all avenues and feel like you just need an extra push and extra help, then seek out professional help.
No, not the kind that leaves you sitting in a chair talking about your bad childhood memories, but the kind that can help you get over the hump.
There are many marketing agencies out there that can help you to plug the gaps when it comes to your marketing campaign.
Online marketing is an area that many are missing the boat on. If you are not online with web properties like social media, your own business websites or review sites, then you really need to seek out a digital agency that can do this for you.
They can take care of things like your social media accounts, press releases and search engine optimization (SEO).
SEO is a way for your websites to get visibility in the search engines, which should garner you more visits and clients.
Why is this on here?
Well, because you need to.
Dealing with competition is not exactly a fun thing to do.
Take the time to relax and take a look at your business. Don’t make any rushed or emotionally filled decisions.
Take the time out to think things over so you can tackle things correctly.
As we mentioned earlier, competition is not necessarily a bad thing.
It can help you to see what you can do better, it can help you to plug some holes in your own business and can get you re‐invigorated and re‐energized when it comes to your industry.
Yes, comfort can cause complacency some times.
If your competition is moving in down the street, don’t panic, just follow these ten steps and you’ll be okay.
Has the competition moved in near you? Let us know how you handled it. Let's continue the conversation in the comments section below.
Know of a salon or spa that could use these tips? Share them on your favorite social media network.