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Do You Congratulate and Support Your Competitors?

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Do You Congratulate and Support Your Competitors?

If you love what someone stands for, tell them.

If someone gives great customer service, tell everyone.

If someone makes you question your beliefs, thank them.

If you love someone’s product, shout it from the rooftops.

Now, here’s the rub… do it even if it’s a competitor!

Okay, so I think I heard a sharp intake of breath from that last sentence.  “Is she losing it?”, I hear you ask.  I lost it a fair while ago, but that’s beside the point.

The point I am trying to make, however, is that I don’t believe in fighting over the same slice of pie – I believe that we need to make a much bigger pie!

With nearly 7.5 billion people in the world, a number which is growing every day, there is enough out there for us all.

So, why would I possibly give credit to a competitor?  There are a number of reasons to do so:

1. You’re seen as the expert in your field

By congratulating your competitor or sharing information about their products or services, you are showing that you are up to date with what is going on in your industry.

You are displaying knowledge of your market, understanding of what is important to your clients and establishing yourself as an expert in your field.  Your clients (or potential clients) will know that you have their interests at the forefront of your mind and not your own.

This is important in establishing a level of trust, vital to any successful business relationship.  All the information is already out there anyway – if you are saving people time and energy by providing them with the information they want, you will quickly establish yourself as the “go-to” person.

2. You improve your reputation

There are two possible outcomes – either your competition will acknowledge your words, perhaps thanking you publicly or they will ignore your gesture completely.

If they acknowledge your words, not only does it make you look like a sharing, caring person who is not undermined or threatened by your competition, but it is likely that their clients will want to know what you said and will check out your post/article/website, thus creating more awareness of you and your business and driving people to your website.

If they choose to ignore you, then you have shown your generosity to not only the other business, but to your industry and you have lost nothing other than your time.

3. You allow growth opportunities for your business

It may create new business opportunities for both of you.  Many successful business partnerships have been created between competitors, with each side playing to their strengths and the weaknesses of the other party.

For example, one company may share its technological advances while be enabling the other to take advantage of its market share in a foreign country.  The expanded levels of skill, knowledge, and expertise may create a whole new product or service that many have never come about but for the collaborative relationship.

On a local level, a group of hair and beauty businesses could put together a series of workshops or a conference that would benefit everybody involved.

4. You get yourself found

SEO – by being aware of the keywords used by your competitors, if you use these words in your competitor credit, you are also increasing the chances of being found in an internet search.

As long as your website has a clear picture of why you are different, what your product or service provides that is different, your ideal clients will want to know more when they come across your information.  By putting links to others’ articles in your posts, you are also likely to gain more traffic to your site.

On top of the above, it’s just a nice thing to do.  We all like to receive confirmation that what we are doing is making a difference in the world.  It feels good to let others know that they are valued, just as it feels good to receive that from others.

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“The opinions expressed by Smallville Contributors are their own, not those of www.smallville.com.au"



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Showing 2 comments
  • Georgia Thomas
    Reply

    Great article, Sharon. I’m always suspicious of people who are quick to bag their competitors. It’s much better to hear them acknowledge a competitors strengths and then talk about their own. Really good advice.

  • Victor
    Reply

    Thanks for this awesome article. My competitor just got $50,000 seed funding. We haven’t got any yet. Was thinking about whether it’s right to congratulate them, then I googled and found this article. I just sent a tweet to congratulate them.

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