Who is your competition, really?

When asked that question, most people automatically think their competition is their competitor. I sell X, my competition also sells X, but my product is better.

While that may be true, you have a lot more competition than you think.

It starts with getting out of your own thoughts and into what your customer is thinking and why they would buy your product over someone else’s.

Once you know who you’re actually competing against, you’ll be more successful in addressing customer objections or questions about why they should buy your product.

Let’s say you sell leggings. Here are a few competitors outside of your direct competition.

1. Something similar to what they’ve tried so far.

Your product is likely not the only thing your customer has tried. They’ve tried lots of similar ones, but they’re looking for something better.

This could include your competition, and also competition-adjacent. If your customer usually wears leggings but wants a change, here’s what that might look like.

They want something that’s more comfortable, that breathes better, and doesn’t look like they just stepped outside of the gym.

Therefore, an item that is competition-adjacent could be joggers. They’re comfortable, breathable and look more presentable than a tight pair of leggings.

Or pants with an elastic waist. Same thing: comfortable. Or even shorts.

How can you address your the competition-adjacent factor in your marketing message?

2. Something completely different.

Your customer is tired of leggings and wants something different. They want to wear jeans or a skirt. Do you need to market your leggings differently to make the cut?

3. They make it themselves.

Your customer might make their own leggings. How can you get them to buy yours? In this case, you could focus on something like time, and how long it takes for them to find the pattern, get the fabric, measurements, etc.

4. Cheaper alternatives.

Can your customer purchase a similar product at a discount store or thrift store? Why should they buy brand new ones from you? This is something that can shape your marketing message.

If yours are more expensive, then you’ll want to use different words and phrases than “discount,” for example. Maybe try words like “one of a kind,” “premium quality,” etc.

5. Social Status.

Believe it or not, people buy things to make themselves feel better about who they are.

Consider the reasons why this may be for your product and address them accordingly.

For example, do they buy leggings to look more in shape than they are? To have the latest technology? For the label? Addressing these concerns can put your brand ahead of the competition.

When positioning your product, it helps to understand the different types of competition in the market. That way, you can shape your marketing message and stand out from everyone else.