The market is crowded—whether you’re launching a startup or managing an established business, competition is fierce. At Scalto, we constantly see new players emerging, all vying for a slice of the market in different environments and territories.
I’m sure many of you are already familiar with these ideas. They’re not new, nor are they exclusively mine. They’re simply practical tips based on our experiences, and they likely resonate with what many other professionals and readers have encountered.
1. Legal Protection for Your Brand
First and foremost, ensure every aspect of your brand is legally protected, from the name and logo to phrases, icons, and your graphic system. These elements distinguish you from others, and you should hold the intellectual property rights to them. While this doesn’t guarantee complete protection—especially in a world where copying is common—it does help safeguard your identity and build value around it, which should be a key objective.
2. Monitor the Competitive Landscape
Keeping a close eye on your competitors is essential. It allows you to anticipate their moves and respond proactively. Use market analysis tools, follow them on social media, review their communications, and pay attention to their followers’ comments. Leverage public information to track their marketing campaigns, product launches, and pricing strategies. This aligns with a classic strategy principle from the art of war: knowing your competitor is crucial. It doesn’t mean you’re constantly fighting, but understanding their actions and strategies enables you to plan yours more effectively.
3. Continuous Innovation
Innovation is key to staying relevant. This isn’t just about developing new products or embracing the latest technology. It’s also about improving what you already have and understanding your customers’ habits—even through internal actions. Innovation keeps your brand at the forefront and makes it harder for competitors to copy or outdo you, including how you cultivate your brand’s culture from within.
4. Understand and Amplify Your Brand’s Strengths
Identify and clearly communicate your brand’s unique strengths. Highlight what sets you apart from the competition, whether it’s quality, innovation, your track record, the novelty of your solutions, or the story behind your brand.
5. Adaptability and Flexibility
Markets and consumer preferences are always changing. Being adaptable and flexible allows your brand to adjust quickly to these shifts, helping you stay relevant and competitive.
6. Transparent and Authentic Communication
Transparency and authenticity in your communication build trust and credibility. Brands that are seen as honest and genuine tend to have more loyal customers and stronger brand advocates. This is even more important in today’s digital world, where social media plays a significant role in shaping brand perception. Despite the digital lens, authenticity and sensitivity resonate with people on a deeper level.
7. Responding Strategically to Competitor Attacks
When a competitor launches a direct attack, like an aggressive marketing campaign or a price cut, it’s crucial to have a well-thought-out response plan. This could involve counteroffers, special promotions, or marketing campaigns that emphasize your brand’s strengths. On social media, it’s vital to stay alert and have communication plans ready to address negative comments that could affect your brand.
8. Smart Investment in Promotion
Promotion is fundamental, but today it comes in many forms that don’t necessarily require huge investments. Knowing where and how to invest your resources efficiently can often yield significant impact. Not only does this keep your brand top of mind with consumers, but it also shows your competitors that your brand is strong and active.