I’ll say it again…don’t fear competition.  Embrace it.  If you’re doing your job well, then healthy competition will only support your efforts.

Think about it.  If competition were such a bad thing, then why do authors trip over themselves to get their books into book stores?  Why do record labels fill up shelves with competing artists?  Why are art gallery walls sought-after space for painters?  These kinds of outlets work because you walk in and your mind is saturated with the topic at hand.  The more you read, the more books you will buy.  The more you listen, the more CD’s you will buy (or download).  The more you appreciate art in general, the more likely you will be to buy a painting.

Competing brands promote your entire category.  When you advertise your business, you’re not only promoting your brand, you’re promoting your entire category.  And that helps your competitors, too, just as the reverse is true.  When they spend money on advertising, it helps you by promoting your category.

Don’t try to outspend your competitors.

Advertising is, by nature, a defensive effort….you advertise to defend your brand from encroachment by competitors.  If a competitor is making inroads with your market, then the goal is to out-think and out-perform them…not to out-spend them.

Be creative with your competition

If you can stomach the thought, then get together with your competitors and discuss ways to promote your category.  Get involved with charities together…sponsor events…come together for the greater good.  Promote your category and your business will increase because you’re increasing the size of the market.  Your piece of the pie will grow because the pie itself is larger.  A rising tide floats all boats.