Episode 146: How to Respectfully Research Local Competition
Episode description
What We Cover In This Episode:
- Ways to determine what is not being offered in your community [1:54]
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What to keep in mind when observing physical locations [6:22]
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The importance of understanding the standard of boutique fitness in the area [7:00]
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How to research both the physical and online presence of other businesses in your community [7:56]
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Why attending industry events and community events to see the type of messaging they are trying to get across is so powerful [9:11]
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How you can point potential customers to the competition if it's a better fit for them and not a fit for you [9:32]
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A few marketing strategies to be aware of [10:17]
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What the process of visiting competitors and introducing yourself can look like [11:13]
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Approaches to avoid that may not be respectful to competitors [12:42]
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Why you should strive to avoid creating tension and boost cross referrals when researching the competition [14:30]
Quotes:
“I think it's vital to look at your competition, because if you have this grand vision of what you would want to offer and you find out there are two studios that already do it, your whole basis of business survival is going to be a bloodbath to prove why you're better, and it's going to get emotional.” [Nick, 3:31]
“If [your competitors] go all out on their website, you better start searching. If you can find who built their website, even better, but you now have a new standard that you need to reach.” [Nick, 8:39]
“Nine times out of ten, you're going to be signing up for the same masterminds, you’re taking a lot of the same certifications, [so] you might as well talk to each other. Don't become enemies, become best friends and work with each other.” [Megan, 19:04]
LINKS:
fitDEGREE’s Business Portal
https://calendly.com/fitdegree/support
https://www.instagram.com/fitdegree/
https://www.instagram.com/fitspot_guru/
https://www.instagram.com/whycoachingandconsulting/