“If you're attacking your market from multiple positions and your competition isn't, you have all the advantage and it will show up in your increased success and income.”
--- Jay Abraham
Competition is feared in some arenas, accepted in others, and for all champions--- it is embraced! Competition is a factor in business that can run some businesses out of town, or can cause better quality products to be produced. It is found in all areas of the sign industry and in all regions of the world.
For some sign businesses that are the only game in town, that can work both as a blessing and a curse. Being the only kid on the block can get boring and cause staleness to creep into the business. Competition spurs the imagination and serves as a swift kick in the rear-end.
“Competition is always a fantastic thing, and the computer industry is intensely competitive. Whether it's Google or Apple or free software, we've got some fantastic competitors and it keeps us on our toes.”
--- Bill Gates
Know your competition. It is a must to know who you are up against, not so you can necessarily beat them, but so you can know what is being offered by someone else. By knowing the competition, you can customize your products and services to be different and even better than what is offered. Your knowledge of what the outside forces are doing keeps you sharp and on the creative edge at all times.
Keeping up with the competitive Joneses is not a good strategy. Keeping ahead of them is. Your goal is to learn all that you can about the competition and then look for ways to focus on providing for customers what they can’t get elsewhere.
“We're looking for something where we can make something happen: an industry where the competition is asleep, hasn't taken advantage. It's going to be hard to find another Blockbuster, but that doesn't mean you can't have three good companies growing. The point is, we're going to be busy.”
--- Wayne Huizenga
It is not important that you keep tabs on the competition everyday, but you should start out with a baseline of what they are all about. Look for where the holes are that are not being filled by your competitors. Find out what you can do to first, keep your current customer base; and second, lure your competition’s customers to your business.
“Why should we be in such desperate haste to succeed and in such desperate enterprises? If a man does not keep pace with his companions, perhaps it is because he hears a different drummer. Let him step to the music which he hears, however measured or far away.”
--- Henry David Thoreau
Be careful not to get caught up into the trap of mimicking your competition. It is easy to study them and see that perhaps what they are doing is something that can make you successful. It is possible to glean some good ideas from competitors, but it is not a good idea to copy their strategy. Stick with your own plan and make it a habit to creatively plan new ways for reaching your particular destination. The exercise of stretching in new directions causes your business to grow and the competition to shrink.
“If you're a competitive person, that stays with you. You don't stop. You always look over your shoulder.”
--- Magic Johnson
Competitive Pricing Strategies
We spoke to Jim Drisler, National Sales Manager at CRC Information Systems; Udi Nachmany, Partnerships and Business Development Manager at Hewlett Packard, HP Scitex Division; and Scott St.Cyr, Principal at Cyrious Software, about some of the most common pricing issues affecting specialty imaging companies.
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What New Truck Chassis Regulations Will Mean to You
By Jennifer LeClaire
Discover the pros and cons of the new EPA standards that will eventually impact your business.
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At a Dairy Queen in Georgia:
"Scream Until Daddy Stops the Car"
Sign in front of bankrupt store:
"We Undersold Everybody!"
Outside of a craft shop in Illinois:
"Notice to all shoplifters: Please help us by stealing only the crap we cannot sell"
We know those funny signs are out there. Take a moment and send them in to us and we'll share them with the world. Send all hysterical observations to: firstname.lastname@example.org.