10 Tactics To Beat Your Competitors In Business

Business competition, especially for events, is a dual-front battle. You’re not only competing with other event planners to secure the best clients but also competing for attendees’ precious time and limited budgets.

There are only so many events one can attend and to stand out, you need to be the best. It’s not just about beating your competitors but understanding them. What do they excel at? What gaps can you fill? 

By focusing on improving upon what your competitors offer, you can carve out your own niche. The aim is to provide superior value through distinctive services, stronger client relationships, or innovative approaches.

Here are 10 ways to slay your competition and host the best events in the land.

10 Ways to Beat Your Competition In Business

Use this cheat sheet and become the top choice for clients and attendees alike –

1. Know the Competition

To outperform your competition, you first need to understand them inside and out. This isn’t just about knowing who they are—it’s about understanding what they offer, how they operate, and where their strengths and weaknesses lie.

• Start by researching other event planners or businesses within your niche.
• Attend their events, explore their marketing strategies, and analyze their customer feedback.
• Use tools like competitor analysis platforms to gather insights on their pricing, services, and customer demographics. 

This knowledge is your foundation.

When you know what your competitors are doing well and where they fall short, you can position your offerings in a way that fills the gaps they leave behind. This strategic approach isn’t just about competing; it’s about excelling in areas where others don’t.

Remember, the better you know your competition, the more effectively you can differentiate your business.

2. Figure Out How You’re Different

If everything you offer is the same as your competition, the differentiator will always default to price. No one wants that because it is a one-way trip to Cheapsville and no one can eat in Cheapsville.

Instead, focus on identifying what makes you unique. What can you offer that others don’t? Maybe you’re faster at organizing events, or perhaps you specialize in a specific type of client, like small businesses or last-minute planners.

Your unique value proposition (UVP) should be crystal clear to potential clients. 

For example, if you’re the only event planner in your area who offers eco-friendly options, make that your standout feature. Highlight it in your marketing and sales pitches. Differentiation is about more than just being different; it’s about being better in a way that matters to your clients.

3. Look for an Underserved Group

One of the most effective ways to gain a competitive edge is by identifying and serving an underserved market. Start by researching market trends and customer feedback to discover groups whose needs aren’t fully met by existing offerings.

For example, if most event planners in your area focus on large corporate events, there might be an opportunity to specialize in intimate gatherings or niche industries. Serving a specific group allows you to tailor your services to their exact needs, making you the go-to expert in that space.

The old saying, “The riches are in the niches” applies here. Find something people need and be that. Starbucks didn’t invent coffee but it did brand a lifestyle and coffee-house experience into that cup.

4. Know Your Audience and their Priorities

It’s not enough to know who your ideal customer is—you need to know what they value, what problems they face, and how they make decisions.

The goal is to create detailed buyer personas that reflect the key demographics, behaviors, and preferences of your ideal clients.

• Knowing your audience allows you to personalize your communications, and create a solid marketing strategy, making them feel seen and understood.
  • For example, if your audience consists of tech-savvy young professionals, your messaging should highlight innovation and efficiency, perhaps offering digital solutions like event apps or virtual consultations.
• Additionally, understanding your audience ensures that your unique value proposition resonates with them.
  • For instance, a cable company looking to sell an Internet package to people of means will miss a number of sales if they concentrate on selling their “cheap” price. What that audience is looking for is speed. They don’t care about saving $10 a month. They want good quality and high speed that allows for streaming without buffering and that’s what the company needs to focus on if they’re trying to reach that demographic.

When you speak directly to their needs and desires, you’re not just another option—they’ll see you as the perfect fit for their requirements.

5. Make Strategic Alliances

Strategic alliances can be a game-changer. By partnering with businesses that offer complementary services, you can expand your offerings and deliver more value to your clients.

For example, if you’re an event planner, consider partnering with a catering company, a digital marketing firm, or a venue provider. Plus, alliances can introduce your services to a broader audience through your partners’ customer bases. 

Creating a network of strategic partners increases your offerings and gives your audience or clients something your competition hasn’t yet thought of.

6. Catch Them off Guard

People do business with people they know, like, and trust. An easy way to establish trust is to say something they don’t expect you to say. 

For instance, admit a benefit of one of your competitors such as saying, “If you’re looking for an enterprise-level marketing event, Conference X is the best. However, if you’re a small business you’re looking for something different. Someone who knows what you go through. We are that conference.” 

Clients appreciate honesty and are more likely to choose a business that puts their needs first, even if it means losing a sale. This level of transparency not only differentiates you but also turns you into a trusted advisor, which can lead to long-term loyalty and referrals.

7. Personalize

Personalization isn’t just a nice-to-have—it’s a necessity. Remember, earlier when we addressed finding your ideal audience? This is one of the reasons it’s so important. Once you know who they are, you can personalize your approach to them.

Use demographic data and personal research on social media to find things your ideal audience is interested in or worried about and craft a message that will sound as if you read their mind. By personalizing your message it will stand out from all of the other noise.

8. Don’t Waste Your Time on Bad Fits

Focusing on your ideal audience is essential for maximizing your time, resources, and results. Not every potential client or attendee is a good fit for your business, and trying to please everyone can lead to wasted effort and frustration.

Instead, concentrate on attracting and serving those who align with your strengths and unique value proposition. Speak to your ideal client and don’t worry if no one else is listening.

9. Ditch the Sales Pitch

Whether you’re approaching a client or attendees, the heavy-handed sales pitch is so 1990s. Instead of bombarding potential clients with aggressive hard-sell tactics, focus on positioning yourself as a resource rather than a salesperson. 

Share valuable insights, tips, and resources that genuinely help your audience, even before they become clients. People prefer to do business with companies they trust, and trust is earned through authenticity and helpfulness.

For instance, offer free guides on event planning, host webinars, or provide consultation sessions that address common pain points. When you lead with value, potential clients are more likely to see you as a trusted advisor rather than just another vendor trying to make a sale. 

Remember, in modern business, selling is about solving problems, not pushing products.

10. Ramp Up Your Website

According to Adweek, 81% of customers research a product online before buying or talking to a salesperson. If this is true of conference attendees, as well as people who hire event planners, your website is essential in beating the competition.

A poorly designed or hard-to-navigate site can turn visitors away before they even learn what you offer. To ensure your website effectively represents your business, focus on three key areas: user experience (UX), content quality, and search engine optimization (SEO). If they can’t find the information on your website they’ll just keep moving to another one.

Final Words: Innovate & Stay Ahead of Your Competitor

Staying ahead of the competition requires more than just occasional adjustments—it demands continuous innovation. The four competitive strategies that the most successful businesses use are cost leadership, differentiation, focus on a niche market, and forming strategic alliances.

There’s no way to win big consistently and land those top clients or lure more and more attendees every year without separating yourself from the pack. Personalize your marketing, focus on ideal clients, and avoid wasting time on those who aren’t a good fit.

Implement these tactics and watch as your business outshines the competition. Remember, continuous innovation isn’t just about surviving—it’s about leading. Take the first step today and secure your place at the forefront of your industry.

Updated 20th of August 2024 by Kanchi Jain