A wise friend of mine has often said, "There is no such thing as competition." I happen to agree with that philosophy. In fact, I have many solid business and social relationships with people you might consider my "competition". Some of my best friends are "competitors"!
Whenever I mention this, most business people disagree. "How can you say that," they protest, "when every month I lose business to competitors?"
I explain why my viewpoint is different. Certainly, there will always be other people in the same kind of business as ours, but that's not a bad thing. It keeps us motivated, and stimulated. And it also allows more people to learn about our type of business, which makes them more knowledgeable when we talk to them. I truly believe that there is enough business out there for everyone if -- and this is the key factor -- we are providing something valuable and unique enough to our target market.
Here's what I mean. The public relations business certainly has no shortage of agencies and independent practitioners. When I started my company three and a half years ago, my focus was traditional marketing and public relations, with standard retainer and project fees.
But along the way, my direction changed. My clients and prospective clients gave me other insights and ideas that led to the creation of new concepts and services (the Do-It-Yourself Public Relations Kit - and P.R. Buddy Program - for do-it-yourselfers, and the Pay for Results Publicity Program - for people who wanted a more concrete way to gauge public relations efforts). These new products and services have led to more clients and profits.
So how do you become busy, profitable and not afraid of competition?
1. Create something truly unique and valuable. If you build it right, clients will come. Examples: JetBlue Airlines, cell phones, broadband Internet access.
2. Remind your existing clients and tell your prospective clients about your Unique Value Proposition. Whether it's through a newsletter, advertising or a P.R. story, make sure your target market knows what you have to offer. For example, whenever I send out this e-mail newsletter, I get all kinds of responses from people -- some just saying "hi," some telling me they enjoyed the newsletter, some who are interested in my services, and others who are even referring clients to me!
3. Do the best possible job. If you do, you won't even have to ask for more business or for referrals. People will be happy to help themselves and others by working with you again.
Copyright 2005 Margie Fisher All Rights Reserved
Margie Fisher is President of Margie Fisher Public Relations. She is also the author of the Do-It-Yourself Public Relations Kit?. To sign up for her free biweekly PRactical P.R. newsletter, and to see more free articles, visit http://www.margiefisher.com |
