Listen to What Your Competition is Doing

That is basically what Josh “Shua” Peters said during one of the points he made last night at the monthly SMCUV.

I think what basically made that statement most relevant to me was that it’s simple but true.  (More simple said than done in some ways for me right now.)  I know who some of my macro necktie markets competitors are and basically what they are doing.  There are so many out there, that I don’t keep track of them all.

On a more micro level, I’ve heard of some other tie companies close by, but I don’t know how to find most of them.  [Note to self, find them!]  Now that I’m writing this, I should also focus (some? a lot?) on country or state specific souvenir businesses.

Also, the LDS missionary businesses have some competitors within.

Basically, I’ve got to update my list in a few different ways.  After I’ve done this, though, listening to and trying to find out what my competition is doing will come in handy.  Just tonight I was doing some listening and ABC Ties had asked a blogger (with some reach I suppose) to blog about one of their ties.  They sent her a free tie that her husband chose out and she wrote about his reaction.  [Translation for me: I’ve got to get doing this too!]

This is something I already thought about doing, but haven’t had a finished product to do this with yet.  (Soon, though; very soon.)

Now that one of my competitors has done something like this, I’ve learned that:

1. My idea does work–meaning that a blogger will review a tie.

2. A free tie and a personalized choice will probably elicit more rave reviews than something bland and possibly not even noteworthy.

There are probably more, but to close up here, I listened and learned.  Great thing to remember and I’m grateful for Shua and his insight.

p.s. I’ve got to put in a shout-out for Thanksgiving Point for letting us meet in their Garden Room that has really cool, scenic views and for being so nice!

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2 Responses to Listen to What Your Competition is Doing

  1. Cody says:

    Dude, you’ve already got your first customer reviewer waiting to rave about your ties! I’ll write a review anytime you want. I’m wearing my Canada tie to church this Sunday and I’m going to ask people what they think.

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