Five Things to Know About Your Competition

While helping architecture and engineering firms develop their marketing plans, we look at a number of factors that determine the tactics we will use – target audience, budget, business goals, etc. For the record, I always say ‘tactics come last,’ and quite honestly they’re easy to determine if you’re able to do everything else that comes before them.

One topic of discussion that brings a great deal of uncertainty to the conversation is competition.¬†On the surface, most firms know who their competitors are, but have very little idea what that really means. ‘Great, we have a list of people we kind of don’t like that may or may not be poaching our staff…and…then what?’ Well, here are five things to know or pay attention to when it comes to the competition.

  1. They’re probably not your competition.
    Just because they’re local, doesn’t make them your competition. Likewise, just because they show up higher than you on Google search rankings doesn’t either. Your competition is based on your target audience and the firms they may have been interested in, not any practicing architect in your state.
  2. They aren’t you.
    How is your firm different than every other firm out there? And don’t say your people, because guess what…everybody says that! (and your people leave eventually) Your brand is what makes your firm unique. Look inside to see why what you do is different – your process, your passion, your portfolio, your pricing. There are plenty of ways to distinguish your firm.
  3. They’re the least important people in your business world.
    If you’re like every other busy principal, marketer, architect or insert title here…you don’t have a lot of free time. While it’s not a bad idea to know a little bit about your competition, with limited resources available, they are FAR less important than your staff and your clients.
  4. If you’re doing it right, they don’t matter.
    I am a firm believer that your competition CAN’T win a contract that was meant for you. (bureaucratic issues aside for public market folks) If they win a project because they were cheaper than you, you would have lost money on the job. For any other reason, the fact of the matter is that you weren’t the right choice or you didn’t understand the client well enough. If it’s the former, move on. If it’s the latter, spend more time understanding the client.
  5. They’re good for something
    Superficial metrics used for benchmarking are just about the only thing I would recommend paying much attention to when it comes to your competition. An example might be social media growth. It’s easy to tell if your competitors are getting more action than you on social. Are they growing? Are they engaging? It’s all out there in the open. If you want to know whether or not you’re working hard enough to build awareness and communicate with your target audience, then you can look at your competitors to see how they’ve done.

The moral of the story…spend time understanding your firm, your business goals and your clients. The competition can’t be better at being ‘you’ than you are.