BE AWARE, NOT AFRAID

When I was managing the top revenue-generating radio station in the market, our competition was always nipping at our heels.

They copied our promotions, replicated some of our programming, and continuously attempted to poach our clients. They tried everything they could think of, honorable or not, to steal our thunder, our listeners, and our advertisers and sponsors

One day, a junior salesperson came into the office absolutely livid about how another radio station finally figured out that a Super Bowl Party is a great way to generate some non-traditional revenue, so they were going to host one as well.

While they did fine with their promotion, ours was still better because we gave away a trip to Hawaii and tickets to the ProBowl while the competition gave away t-shirts.

I reminded him, just as I am reminding you, that you do need to keep track of the competition, but you needn’t fear them. Be aware, not afraid, of everything they do.

Most of all, continue to innovate new best ways to serve your customers. If other companies copy what you do, it makes it very easy for everyone to see who the market leader really is.