5 Tips for Dealing with Copycat Competitors
It’s said that imitation is the sincerest form of flattery, but when another business copies your ideas, being flattered is the farthest thing from your mind. In this first blog of our Building Business Series, we discuss how Copycat competitors can result in loss of market share, customers, and even your profits. So what can you do about it? Here are some strategies on how to handle business imitators and come out on top.
- Talk to your legal professional. He or she can help you explore options and advise you on your rights, costs, and possible remedies.
- Don’t underestimate the competition. They will try to undermine your authority or attempt to one-up you, so don’t ignore your competitors. Work to stay a step ahead of them and keep raising the bar.
- Find ways to add even more value. Customers favor good service, so focus on being the better business in this area. People will pay for service and attention as they know it can save time and money in the long run.
- Take an honest look at the service you are providing. Competition typically forces us to improve our game and take a more focused look at ourselves. Find ways to increase your offerings in order to stand out. Innovation can help your business grow and evolve into a stronger company.
- Connect to your customers. Ask them what they need from you and try to use their suggestion to better your company. Knowing, understanding, and listening to your customers can help your business provide even more value to them. That will keep them coming back and will help you get referrals.
There are many roofing businesses out there and a great deal of competition. Focus more on what you can do to change and grow your company and you’ll find that you’ll stand out in the crowd.
Read More in the Building Business Series: