Why Business Competition Is Necessary

Business 02 Aug 2016
Why Business Competition Is Necessary

While it is true that being in a competitive industry can prevent your business from achieving the goals you have set, specifically in the areas of lead generation and sales, the competition cannot be blamed entirely for it. In fact, competition can even be healthy for your business, but it is up to you to keep your business on top of the situation.

There are three main reasons your business, or any business for that matter, needs competition. These are:

Competition Takes Complacency Out of the Equation

You know why some brands that used to dominate the market in the past are out of business today? It is because of complacency. They found no reason to change how they did things – even if everything around them was evolving. They thought that every new thing that came along was just a passing fancy or a fad that would fade away in due time. They were wrong!

Complacency, as the saying goes, breeds failure. That is true because change is continuous. Everything today changes quickly, particularly online. Thus, you have to keep up with the changing times. What may be effective today may no longer be tomorrow.

By accepting that fact that your competitors are constantly evolving and thinking of ways on how to get ahead, you will be able to come up with more effective marketing and sales processes to win targeted clients over to your side.

Here’s what you need to do:

  • Learn from your competition by studying the things they do right.
  • Analyze the market trends and be ready to adjust.
  • Study your target market and determine what they specifically want or need.
  • Be more vigorous and more generous in creating and sharing valuable information.

Click here to read the article on Digital Marketing magazine

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About the author

Mahmood Bashash

Mahmood Bashash holds an Electronics Engineering degree. He has worked as a computer programmer in one of leading software companies in Iran for 5 years. His talent and leadership ability made him one of the top managers and team leaders in the company. Mahmood then set up his own business, dedicated to Web development, Internet marketing and social media, and run the company for 4 years. His young team, and his passion for doing the right thing, cased his company to be ranked among the top 5 companies in Iran in the Web development industry. He managed numerous clients, from small companies through to large enterprises. Mahmood is the founder of eBiz International (F.Z.C), a small digital marketing firm established on 2005 in UAE and delivers web, social media and digital marketing services and consultancies to small and medium size businesses (SMB) in the region.

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