Community VS Competition

Outshine Your Competitors In The GTA

You’ve probably had a glance at the image above and answered “neither”. Well, you’re right. This is usually the issue that most businesses encounter while dealing with a wide field of competitors. Starting out a business in a highly populated community increases the chance of blending in with the rest, rather than having a separate, unique business. As the community of Newmarket and its surrounding areas are increasing, the competition is only getting more fierce. In fact, The GTA is one of the fastest growing regions in North America. Here are a couple ways to have your business stand above your competitors.

Appeal to your Market

Imagine you lived in a world full of people wearing white t-shirts and black pants; it would be generic and bland. A world full of conformity is a world without distinction. People dress accordingly to their own personal sense of style. That is ideally what your business brand is for. It’s your company’s chance to dress well and impress your audience, and it’s also how your audience remembers and develops impressions of your business. Many business owners underestimate the importance of well-designed branding and perceive it to be an unnecessary expense. However good branding could be an investment that will benefit the future of your company.

Do Some Research

Being aware of the competition in your community is something to take into consideration when you are starting up or maintaining a business. With a little research, you can easily find out how many businesses in your area offer similar products/services. By using this tactic, you can pick up many tips of how they are running their business, who their target market is, how they are pricing their products/services and more.

Another tip to take into consideration is to identify your niche market. You can build a solid foundation for you business by identifying your typical customer and tailoring your marketing pitch directly to those individuals. You will have a much higher chance of grabbing their attention. If you try to sell to everyone on the other hand, it wouldn’t be half as effective because your message isn’t relating directly to their needs/interests and it will fly right over their head.

Being knowledgeable on who your competition and market are, will give you the information you need to improve certain qualities of your business and bring your company one step closer to surpass your competitors.
 
Here’s a few ways of doing this

  1. • Use a search engine
  2. • Use your library’s business resources & directories
  3. • Use your local Chamber of Commerce
  4. • Attend exhibitions and events in your related field

To Sum It Up

If you would like to avoid being business #1 or #2 reconsider:

1. Your Brand Identity – Does it seem outdated, tacky, or dull? If so, you’re lowering the standards of your company without being aware.

2. Who Your Competitors and Target Market are – If you dive into the competition without any information on who your competitors or target market are, there is a high chance you are misguiding your business into the wrong direction.